To our many partners, colleagues, and friends, we wish you good health and safety during this tumultuous time. We thank all those who continue to work in healthcare, food retail, the public sector, and other industries serving the needs of our state. In the last few days, Minnesota has experienced an increase in the cases of COVID-19, an historic rise in unemployment claims, and a state-wide shelter in place order to mitigate the spread of the virus. The long-term effect this will have on our economy and labor market is uncertain, but the data below reflects the recent impact COVID-19 has made on businesses and jobs in Minnesota.
The weeks of March 8 – 14, 2020 and March 15 – 21, 2020 brought a decline in new job postings in the state of Minnesota, resulting in a 19.1% drop from week to week and a 6.45 decrease in the amount of job postings compared to the same time in the prior year.
The graph below displays the occupations with the highest amount of new online job posts for the week of March 15 – 21, 2020. Heavy and Tractor-Trailer Truck Drivers, Registered Nurses, and Software Developers, Applications, have posted a relatively high amount of online job posts in Minnesota even prior to the COVID-19 epidemic.
The graph below displays occupations with a large increase of new job posts for March 15 – 21, 2020 compared to the prior week of March 8 – 14, 2020.
Of the 114 new posts for the Work from Home – Non Specific Duties Occupation, 51 were posted by Shipt, a grocery delivery service.
Of the 279 new posts for the Laborer and Freight, Stock, and Material Movers, Hand Occupation, 88 were posted by Fed-Ex and 138 were posted by Home Depot.
The graph below displays the occupations with a large decrease of new online job posts for the week of March 15 – 21, 2020 compared to the prior week of March 8 – 14, 2020.
The graph below displays employers that had a relatively large increase of job posts for March 15 – 21, 2010 compared to the prior week of March 8 – 14, 2020
The image below is from Chmura’s COVID-19 Economic Vulnerability Index – which gauges the negative impact COVID-19 can have on regions in our nation. The index provides a score for the region based upon the industries that exist within the area and their potential job loss. The average Vulnerability Index score is 100, representing the average job loss expected in the U.S. A higher score would indicate a potentially larger impact on that local economy compared to the national average. A county with a score of 200 indicates that the rate for job loss could possibly be twice the national average, whereas, a county with a score of 50 could possibly experience half the national average of job loss. In this image, the darker shaded area reflects a high index score and a greater potential for job loss.
The table below displays the Vulnerability Index Score for every county in Minnesota. As previously mentioned, the higher the score, the more potential for job loss compared to the national average of expected job loss. The national rank column indicates where each county ranks compared to all counties in the nation.
COVID-19 Economic Vulnerability Index projection model created by Chmura economics team. Chmura Economics & Analytics, JobsEQ
New job post data from Gartner TalentNeuron Recruit collected by RealTime Talent on 3-26-20 for the time frame of 3-15-20 to 3-21-20 and includes Staffing Agencies.
