Central Minnesota labor market conditions: Minneapolis Fed survey Q12019

The Minneapolis Fed is very interested in current labor market conditions across Minnesota, including hiring demand, labor availability, and wages. Please take 5 minutes to help the Minneapolis Fed better understand labor conditions in Central Minnesota. All responses are anonymous.

Once the survey is closed, summary results will be shared with our regional partners (who alerted you to this survey), who will then share results with contacts like yourself.

If you have any questions, please call or email me. Thank you for your time and insights. The Minneapolis Fed greatly appreciates both.

Ron Wirtz
Regional Outreach Director
Federal Reserve Bank of Minneapolis
612.204.5262
ron.wirtz@mpls.frb.org

Question Title

* 1. What sector does your company or organization do business in?

Banking/finance

Construction

Government

Health care

Manufacturing

Natural resources & agriculture

Nonprofit

Professional services

Real estate

Restaurant/bar/entertainment

Retail

Transportation

Other

Other (please specify)

Question Title

* 2. HIRING: What best describes the current hiring situation at your firm/organization...

Hiring to expand total headcount

Hiring to replace turnover (only)

Hiring to expand total headcount AND replace turnover

Not currently hiring; stable headcount

Cutting total employee headcount

Don't know

Comments

Question Title

* 3. FUTURE HIRING: What best describes your firm's EXPECTED hiring in the first half of 2019...

Will add/expand total headcount

Will hire as needed to replace turnover (only)

Will hire to expand total headcount AND replace turnover

Will likely do no hiring; stable turnover and headcount

Will cut total employee headcount

Don't know

Comments

Question Title

* 4. LABOR SUPPLY: How would you describe current labor availability and the direction or trend of labor availability over the last 6 months?

Very tight, getting worse

Very tight, staying the same

Very tight, getting better

Somewhat tight, getting worse

Somewhat tight, staying the same

Somewhat tight, getting better

Favorable; no issues finding labor

Don't know

Comments

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* 5. What effect, if any, is labor availability (or lack thereof) having on your firm? (open-ended)

Question Title

* 6. SKILL SHORTAGES: What skills are in the greatest/least shortage? (Please rank each category on a 1-5 scale; 1 = greatest shortage; 5 = least shortage)

	1	2	3	4	5
Low skill/general labor	Low skill/general labor 1	Low skill/general labor 2	Low skill/general labor 3	Low skill/general labor 4	Low skill/general labor 5
Semi-skilled; some college	Semi-skilled; some college 1	Semi-skilled; some college 2	Semi-skilled; some college 3	Semi-skilled; some college 4	Semi-skilled; some college 5
Technical skills/associates degrees	Technical skills/associates degrees 1	Technical skills/associates degrees 2	Technical skills/associates degrees 3	Technical skills/associates degrees 4	Technical skills/associates degrees 5
Construction/trades	Construction/trades 1	Construction/trades 2	Construction/trades 3	Construction/trades 4	Construction/trades 5
Bachelor's degrees	Bachelor's degrees 1	Bachelor's degrees 2	Bachelor's degrees 3	Bachelor's degrees 4	Bachelor's degrees 5
Advanced/professional degrees	Advanced/professional degrees 1	Advanced/professional degrees 2	Advanced/professional degrees 3	Advanced/professional degrees 4	Advanced/professional degrees 5
Other	Other 1	Other 2	Other 3	Other 4	Other 5

Other (please specify), and add any comments:

Question Title

* 7. TURNOVER: Compared with this time last year, how would you describe labor turnover ...

Much worse

Somewhat worse

Mostly the same

Somewhat improved

Much improved

Comments: If worse or improved, what do you attribute the change to?

Question Title

* 8. WAGES: How would you describe wage increases ...

	More than 5% higher	3-5% higher	1-3% higher	Little or no change (-1% to 1%)	Lower by more than 1%
Over the last 12 months	Over the last 12 months More than 5% higher	Over the last 12 months 3-5% higher	Over the last 12 months 1-3% higher	Over the last 12 months Little or no change (-1% to 1%)	Over the last 12 months Lower by more than 1%
Expected for the coming 12 months	Expected for the coming 12 months More than 5% higher	Expected for the coming 12 months 3-5% higher	Expected for the coming 12 months 1-3% higher	Expected for the coming 12 months Little or no change (-1% to 1%)	Expected for the coming 12 months Lower by more than 1%

Comments

Question Title

* 9. EMPLOYER BENEFIT COSTS: Compared with this time last year, please describe the change in your company’s benefit costs:

More than 10% higher

5-10% higher

1-5% higher

Little or no change (-1% to 1%)

2-5% lower

Not applicable/no benefits

Don't know

Other (please specify)

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* 10. Please describe any new wage, benefit or non-compensation (e.g. flexible scheduling) improvements your firm or organization has made in the last 6 months to attract needed labor, or retain existing labor.

Question Title

* 11. What would you tell the Minneapolis Fed regarding current hiring activity, labor market conditions, wages and/or the outlook for 2018? (Open-ended; write as much as you like.)