Washington County Supply and Demand Analysis

Significant talent shortages have been anticipated for years, and the impacts of the COVID-19 Pandemic expedited many of the workforce transitions and talent misalignments projected since 2018. In 2022, demographic trends and the complex economic environment nationwide converged to create the tightest job market in history, the effects of which are still reverberating. This period has witnessed what's termed as a "great reshuffle," wherein talent actively seeks higher wage opportunities that are more closely aligned with their areas of interest and skill. Factors such as early retirements, lack of access to childcare and other dependent care, illness, entrepreneurship, and new business starts are cited as the top influencing factors limiting our available talent pool.

Minnesota stands out with one of the most severe talent shortages in the nation, with approximately 50 available workers for every 100 open jobs, without even considering skill misalignments. In summary, the state faces a critical shortage of workers, making it clear that there are no workers to spare.