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Navigating Labor Market Trends: Past Recession, Current Recovery, Future Challenges

Gain insights into MN's recent recessions and recoveries, workforce trends, and future outlook. Explore the impact on different groups and discover signs of improvement in unemployment rates and job opportunities. Stay informed about the changing landscape of job market dynamics.

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Navigating Labor Market Trends: Past Recession, Current Recovery, Future Challenges

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  1. Steve Hine, Research Director DEED/Labor Market Information Office February 10, 2011 Governor’s Workforce Development Council

  2. Overview: • Where have we been? • Just how bad was this past recession? • Where are we now? • How robust has this recovery been so far? • Where will we go? • What new challenges will we face in the future?

  3. Total Non-farm Employment – MN & US

  4. Comparison of MN’s Recent Recessions and Recoveries

  5. Share of Our Population With Jobs is Down

  6. Regaining Our Edge in Unemployment

  7. ‘Official’ Unemployment is only part of the story

  8. And not all groups are affected equally

  9. Signs of Improvement Do Exist Monthly UI Claims (SA)

  10. Re-employment Rates are also up

  11. Improved Ratio of Openings to Unemployed

  12. Where Will the Jobs Be?

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