Minnesota continues to rack up some impressive numbers in a recovery that is now in its 52nd month.
In the latest state employment numbers announced today, DEED said Minnesota employers added 9,500 jobs in December, bringing total job gains in the state to 45,900 in the past year. The unemployment rate was unchanged at 4.6 percent, well below the U.S. unemployment rate of 6.7 percent.
Minnesota has a rich beer-making tradition, with the state at one time being home to more than 120 breweries. Pummeled by Prohibition, the Great Depression, industry consolidations and competition from national brands, the state’s breweries had declined to four by the 1980s.
When Gov. Mark Dayton introduced his two-year budget plan last year, he made it clear that one of his highest priorities was to create jobs and make Minnesota more attractive for businesses. He proposed a number of tools, including the Minnesota Job Creation Fund, which recently began taking applications from qualified businesses.
Minnesota is making significant progress in narrowing the achievement gap between white students and students of color, national test results show.
A group of business leaders from the Twin Cities metropolitan area heard about the opportunities and challenges presented by China’s market at the China Business Roundtable Luncheon on Oct. 8 in Minneapolis. The purpose was to continue strengthening ties between the Minnesota Center China and the local business community.
Personal income in Minnesota plunged during the Great Recession, driven by a combination of job losses, reduced work hours, delayed raises, wage cuts and other factors. Many of those factors have reversed direction since then, helping to boost real per capita income over the last three years.
We’ve seen much evidence in recent months of a recovering economy in Minnesota. The unemployment rate is at a five-year low, requests for jobless benefits continue to slide and the state’s gross domestic product is among the fastest growing in the country.
The Minnesota unemployment rate and job figures get a lot of attention when they are announced on the third Thursday of every month, frequently attracting front-page newspaper coverage statewide. Reporters and economists analyze the numbers and interpret what they say about the economy. While there are plenty of other ways to look at our economic performance, the monthly unemployment rate and job figures are arguably the most closely watched barometer in Minnesota.
Think of northwestern Minnesota as the state’s sugar bowl.
Abundant ag resources – from wheat to sugar beets – fuel the region’s thriving food processing industry. Sugar beets make a substantial contribution to the Minnesota-North Dakota economy. Standout food manufacturing firms include American Crystal, Dean Foods and Lamb Weston which together employ nearly 1,500 people.