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24-1037-CHI
Friday, May 24, 2024
Minnesota had 164,000 job openings in March 2024, compared to 171,000 openings in February, the U.S. Bureau of Labor Statistics reported today. (See table 1.) Regional Commissioner Jason Palmer noted that the job openings rate in Minnesota was 5.1 percent in March and 5.4 percent in the previous month. (See chart 1 and table 2.) The job openings rate nationally was 5.1 percent in March and 5.3 percent in February. (See table 3.) All data in this release are seasonally adjusted.
The ratio of unemployed persons per job opening in Minnesota was 0.5 in March. Nationwide, 35 states and the District of Columbia had ratios in March that were lower than the national measure of 0.8 unemployed persons per job opening; 8 states had ratios that were higher than the national ratio, and 7 states had ratios equal to the national measure. (See map 1.)
In March, Minnesota had 97,000 hires and 93,000 separations, compared to 100,000 hires and 126,000 separations in February. (See chart 2.) Over the 12 months ending in March, hires have averaged 108,000 per month and separations have averaged 105,000 per month. These averages include workers who may have been hired and separated more than once during the year.
Among the March separations in Minnesota, 62,000 were quits and 26,000 were layoffs and discharges, compared to 64,000 quits and 56,000 layoffs and discharges in February. (See chart 3.) Over the last 12 months, quits averaged 67,000 per month, ranging from 53,000 to 76,000. Layoffs and discharges have averaged 32,000 per month, ranging from 22,000 to 56,000.
The State Job Openings and Labor Turnover Survey estimates for April 2024 are scheduled to be released on Tuesday, June 18, 2024, at 10:00 a.m. (ET).
Effective with the release of May 2024 data on July 24, 2024, the Job Openings and Labor Turnover Survey (JOLTS) state estimates will be benchmarked and revised to include the annual benchmark revisions to JOLTS national estimates, the Current Employment Statistics (CES) employment estimates, and the Quarterly Census of Employment and Wages (QCEW) data. Seasonally adjusted and not seasonally adjusted data from January 2019 forward are subject to revision. In addition, 2023 annual estimates for states will be released at this time.
This news release presents statistics from the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). The JOLTS program provides information on labor demand and turnover. The state estimates produced by JOLTS are model-based, incorporating JOLTS sample, Quarterly Census of Employment and Wages (QCEW), and Current Employment Statistics (CES) estimates. For more information see the JOLTS State Estimates Methodology.
Job Openings. Job openings include all positions that are open on the last business day of the reference month. A job is open only if it meets all three of these conditions:
The number of unemployed persons per job opening is a ratio of the level of unemployed persons and the level of job openings. The number of unemployed persons at the national level is an estimate from the Current Population Survey (CPS), while state-level unemployment estimates are modeled by the Local Area Unemployment Statistics (LAUS) program. A ratio of 1.0 means there is a job available for every unemployed person. Lower ratios signal tighter labor markets, where firms have more job openings than there are unemployed persons available to work. Higher ratios indicate there are more unemployed persons competing for each job opening.
Hires. Hires include all additions to the payroll during the entire reference month.
Separations. Separations include all separations from the payroll during the entire reference month and is reported by type of separation: quits, layoffs and discharges, and other separations.
Levels and rates of other separations represent a small portion of total separations and are not published with the release of state estimates.
Complete definitions, including exclusions, and additional information about the State JOLTS data presented in this release are available in the State Job Openings and Labor Turnover Technical Note.
Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: 202-691-5200; Telecommunications Relay Service: 7-1-1.
Estimate | March 2023 | December 2023 | January 2024 | February 2024 | March 2024(p) | Change from February 2024 to March 2024(p) |
---|---|---|---|---|---|---|
Openings | 180 | 198 | 182 | 171 | 164 | -7 |
Hires | 111 | 106 | 116 | 100 | 97 | -3 |
Total separations | 106 | 95 | 95 | 126 | 93 | -33 |
Quits | 68 | 65 | 53 | 64 | 62 | -2 |
Layoffs & discharges | 32 | 26 | 27 | 56 | 26 | -30 |
Estimate | March 2023 | December 2023 | January 2024 | February 2024 | March 2024(p) | Change from February 2024 to March 2024(p) |
---|---|---|---|---|---|---|
Openings(1) | 5.7 | 6.2 | 5.7 | 5.4 | 5.1 | -0.3 |
Hires(2) | 3.7 | 3.5 | 3.9 | 3.3 | 3.2 | -0.1 |
Total separations(3) | 3.6 | 3.2 | 3.2 | 4.2 | 3.1 | -1.1 |
Quits(3) | 2.3 | 2.2 | 1.8 | 2.1 | 2.1 | 0.0 |
Layoffs & discharges(3) | 1.1 | 0.9 | 0.9 | 1.9 | 0.9 | -1.0 |
Footnotes: |
Estimate | March 2023 | December 2023 | January 2024 | February 2024 | March 2024(p) | Change from February 2024 to March 2024(p) |
---|---|---|---|---|---|---|
Openings(1) | 5.8 | 5.3 | 5.3 | 5.3 | 5.1 | -0.2 |
Hires(2) | 3.8 | 3.7 | 3.6 | 3.7 | 3.5 | -0.2 |
Total separations(3) | 3.8 | 3.4 | 3.5 | 3.5 | 3.3 | -0.2 |
Quits(3) | 2.5 | 2.2 | 2.2 | 2.2 | 2.1 | -0.1 |
Layoffs & discharges(3) | 1.2 | 1.0 | 1.0 | 1.1 | 1.0 | -0.1 |
Footnotes: |
Last Modified Date: Friday, May 24, 2024