The U.S. labor market is still growing. What does that mean for Minnesota workers?

On paper, it's a good time to look for a job.

U.S. unemployment is at a near-record low. Employers are adding new jobs every month, including 336,000 in September. And once hired, the tight labor market means workers have more negotiating power, whether they're angling for a signing bonus or a better union contract.

But for individual job-seekers, and the employers looking to hire them, it's more complicated.

"[Employers are] saying, 'We have openings, we have openings,' and then we hear job seekers say, 'I'm applying, I'm applying,' and the two shall never meet," said Becca Lopez, vice president of Career Education and Employment Services at Avivo. "Two ships kind of passing in the night."

After the labor market exodus at the height of the pandemic, particularly among women, people are looking for jobs again, Lopez said. The organization is seeing nearly double the referrals and interest of a year ago, she said.

"If people are finding their way into the labor market, they are finding jobs, and they are working," Lopez said.

The complication coming out of the pandemic, she said, is that expectations and values around work have shifted. Job-seekers might be looking to make a career switch to something that better meets their family and personal needs, including higher wages and the chance to do work they're passionate about, she said. But job openings and skill sets don't always align.

There are nearly 200,000 open jobs in Minnesota, according to the Department of Employment and Economic Development (DEED). On Wednesday, the department and Gov. Tim Walz launched an initiative aiming to boost employment in technology, the trades, caring professions, manufacturing and education.

"Whether it's teaching our students or innovating in technology, Minnesota has hundreds of employers looking to fill good-paying jobs, and we're working to ensure Minnesotans have access to the training they need to fill them," Walz said in a statement.

Signs of a slowdown

As employers keep hiring — and Americans keep spending — the Federal Reserve will likely continue pumping the brakes on the economy as it seeks to calm inflation.

That could mean higher interest rates which, alongside inflation and slowing wage growth, could make it tougher for workers to get by, even as the labor market remains relatively strong.

"[People] should be concerned and be cautious, but it's still a pretty good job market," said Ernie Goss, an economics professor at Creighton University. "That can't be denied."

The most recent Minnesota jobs numbers aren't available, but the state's economic trends tend to mirror — or exceed — what's happening nationally. Through the last decade, the state has boasted the second fastest-growing job market in the U.S., according to Bureau of Labor Statistics (BLS) data the Digital Project Manager compiled.

But there are signs of a slowdown.

A wave of labor activity in Minnesota and elsewhere has receded even as high-profile strikes by well-established unions continue.

"The labor market is still relatively tight, but it's not like it was during the pandemic," said William Jones, a University of Minnesota history professor whose research includes organized labor. "So there's not as much demand for labor, and that makes it harder to put that kind of pressure on employers."

Meanwhile, the latest BLS data showed fewer workers are leaving jobs voluntarily than they were a year ago. Though jobs remain plentiful, incentives such as retention and hiring bonuses are becoming less common, Lopez said.

Searching for work

On Tuesday afternoon, Memphis-based International Paper had a table set up at Ramsey County Library in Roseville, complete with a stack of cardboard boxes the company manufactures.

Most people passed through the lobby without stopping, but Zamzam Ahmed paused to take a look. The 33-year-old, who lives in the Falcon Heights area, said finding a job these days doesn't seem too hard.

"I think it's pretty easy to find, if you know what you're looking for," she said. "It's just how you put your résumé and cover letter together."

Morris Sims also stopped for a moment, walking away with some company swag, including a branded pen that caught his eye.

The 18-year-old high school senior said he'd been looking for a job to support himself and his family for a year and was waiting to hear back after applying at the airport and a pizza place. He was willing to work two jobs, he said, but no more than that.

"I might be interested in this," Sims said, after noting that hands-on work appeals to him. "There are a lot of things that have caught my eye so far."