The Minnesota August jobs report released yesterday is a tale of two stats.On one hand, the state's unemployment rate, now at 4.3 percent, is at an eight-year low, and in an election year, that should bode well for Gov. Mark Dayton, right? But on the other, the state's workforce participation rate, ... More >>
NerdWallet ranks Minneapolis and St. Paul as the third and fourth best cities in America, respectively, in terms of quality of life.The cities ahead of us? Madison and Lincoln. Talk about a Midwestern bias!See also:Do Dayton, DFL deserve credit for MN's high rank in CNBC's Top States For Business?
Remember a month ago, when everybody was celebrating the Twin Cities' new ranking as the metro area with the lowest unemployment rate? The state pointed to it as more evidence that the area was coming back strong from the recession. Big networks like CNBC even got in on the act. Well, only a few we ... More >>
Minnesota is third only to first-place Washington and second-place Texas in Money-rates.com's 2014 list of the best states to make a living.The list accounts for each state's average salary, cost of living, unemployment rate, and workplace satisfaction, then uses that data to rank the 10 best and wo ... More >>
This morning, the Minnesota Management and Budget office announced the state is projected to have a budget surplus of $1.23 billion in the current biennium and $2.6 billion in the next. SEE ALSO: The Zygi Wilf/Mark Dayton photo people can't get enough of: Top 10 tweetsHours later, Gov. Mark Dayton r ... More >>
On Thanksgiving, Walmart and Best Buy will open at 6 p.m., with Target opening a couple hours later.RELATED: Will Target match Walmart's great deal for Thanksgiving workers?But in a new commercial, Mills Fleet Farm trumpets the fact that its Black Friday sales won't begin until, you know, Black Frid ... More >>
The latest numbers from the state indicate that Minnesota has finally recovered all the jobs lost during the recession that began in early 2008.SEE ALSO: Mary Franson thinks City Pages blogger should blame his rent increase on Gov. DaytonAt the end of August, there were nearly 2.8 million jobs in Mi ... More >>
A slew of recent lists has named us snobby and brainy, bike-friendly and outdoorsy. But here's a ranking that carries a little more weight, and comes backed by harder data: The Twin Cities has the lowest unemployment of any major U.S. metro area, according to the latest numbers from the Bureau of La ... More >>
There's no need to hit Wall Street or Hollywood to make it big. Minneapolis was just named the fifth-best city in the country to get rich by CreditDonkey. It's the only Midwestern metro to make the top ten. See also: Minneapolis has the best parks in the nation and it isn't even close, study says R ... More >>
What a difference a state makes.SEE ALSO: When dating prospects look bleak, women focus on their careers, new U of M study finds While Wisconsinites have been enduring arguably the worst job market in the country, Minnesota is adding jobs at a clip faster than any seen since Walter Mondale was chall ... More >>
According to the listings site Rent.com, the best place for a recent college graduate in search of a decent paycheck and an affordable place to live isn't one of the much-buzzed about cities for bright young things, like Austin or San Francisco.Per the website's numbers crunching, top cities actuall ... More >>
As we told you about 11 months ago, Wisconsin lost more jobs than any other state from early 2011 to early '12. New data indicates Wisconsin's job market continued to stink like rotten cheese throughout the rest of the year.SEE ALSO: Mary Hoglund, 83, spits in Romney supporter's face during Wisconsi ... More >>
While discussing income tax cuts approved in 1999 and 2000 during last night's State of the State speech, Gov. Dayton said: "In the decade after Minnesota's income tax reductions, our economy fared worse than the nation and most other states."SEE ALSO: Mary Franson thinks City Pages blogger should b ... More >>
Yesterday, the California-based Institute for College Access and Success released its seventh-annual state-by-state student debt report, and it turns out Minnesota is right near the top of the charts when it comes to average debt load for college grads.SEE ALSO: Economic recovery? What economic reco ... More >>
SEE ALSO:-- Obama shouts out Warroad-based, Romney-supporting Marvin Windows [VIDEO]-- Minnesota has regained 48 percent of jobs lost during Great Recession-- Young women become more vain during recessions, U of M prof findsIn the words of one financial policy analyst, the Minneapolis Fed's new brea ... More >>
If it really is all about the economy, stupid, then President Obama's reelection prospects are more precarious this morning than they were yesterday. Obama is in the Twin Cities today. He'll give a speech at Honeywell's Golden Valley facility this morning before heading downtown for a string of fund ... More >>
It's a finding that Eric Pusey, founder of the Minnesota Progressive Project, characterized as "yet another reason to be glad we don't have Governor Emmer."Remember when Scott Walker promised to create 250,000 new jobs during his first term? If Wisconsin voters do, then Walker is probably in trouble ... More >>
Strong gains in the private sector helped Minnesota add 15,500 jobs in January, pushing the state's unemployment rate down to 5.6 percent, a level not seen since September 2008.In total, Minnesota has now regained 74,900 of the 156,000 jobs lost during the Great Recession. And believe it not, the ... More >>
In another indication the economy continues to recover, new data shows that Minnesota's job market at the end of 2011 was a helluva lot stronger than it was a year prior. According to the Department of Employment and Economic Development, job vacancies in the state climbed 47.6 percent during the ... More >>
Franken wants Fannie/Freddie to put their money where their mouth is. Today, Senator Franken plans to introduce legislation that would help more homeowners refinance their home mortgages, saving them money and, in some cases, helping them keep their homes.Franken's Helping Homeowners Refinance Ac ... More >>
Cleveland LeaderTwo special elections for legislative seats happen tonight in Minneapolis. "Election 2012" doesn't just refer to November 6.Ready or not, two Minnesota legislative seats, both in Minneapolis, are actually up for grabs tonight. One is House District 61B, which includes the south Mi ... More >>
Yesterday, the state Department of Employment and Economic Development announced it has awarded more than $2.2 million in grants to provide services for 585 workers who were recently laid off at eight Minnesota businesses.The grants represent a significant public expense meant to help out-of-work ... More >>
As their numbers increased in the Hennepin County Government Center Plaza this afternoon, more and more chatter rose among the Occupy MN crowd about marching to the Federal Reserve Bank of Minneapolis. The Fed was the originally planned occupation destination, but organizers worried that arrests ... More >>
The GOP presidential candidate's claims don't hold up
Bachmann says one thing in public in, and does another in private.Michele Bachmann used federally backed home loans from Fannie Mae or Freddie Mac just weeks before she denounced those programs and called for them to be dismantled, according to the Washington Post. Experts who reviewed the home l ... More >>
The title of Michele Bachmann's new autobiography took many observers by surprise.This may be the craziest thing Michele Bachmann has said yet.At the Republican Leadership Conference in New Orleans over the weekend, Bachmann tried to make in-roads into Barack Obama's most reliable voter base by c ... More >>
Another Bachmann confrontation with House leaders.Queen of the tea party Rep. Michele Bachmann, with an assist from former Gov. Tim Pawlenty, is ramping up her battle urging Congress to block an increase in the federal debt ceiling. Forget it, says House Speaker John Boehner. That's a recipe ... More >>
Andrew CiscelFind work here.The headlines never seem to let up about the crappy American economy, and how tough it is to find a job. But Forbes is out with a new list today that says Minneapolis and St. Paul have the fourth-best job market of any major city in the country. The best was Wash ... More >>
Mark Dayton will be the next governor of Minnesota.Be careful what you wish for, the old saying goes. Mark Dayton took the oath of office as Minnesota's governor at noon, the first Democrat to hold that office in decades.
That's a jump from 7.5 percent in January and matches the national average. It will get worse before it gets better unfortunately.
"Recession Could End This Year, Fed Chief Says" (Washington Post) vs. "Bernanke: Recovery Will Take Years" (CNN).
The Department of Commerce reported yesterday that Minnesota's per capita income rose to $41,034 last year, good for 11th highest in the land. Once again, we are totally above average.
Want to know all you need to know about how adjustable rate mortgages have devastated the housing market? Read the first few paragraphs of this article.
The working poor choose to get screwed again.
If you believe the cheerleaders, the Minnesota economy is going gang-busters these days. Much of the credit, the argument goes, belongs to the Pawlenty administration, which has supposedly cultivated a much more business friendly environment by slashing taxes and reining in spending. Not surprisingl ... More >>
In his hour-long appearance on Minnestoa Public Radio's Mid-Morning show today, Governor Tim Pawlenty displayed two of the gifts that make him an effective politician: a relaxed, confident manner and a wonkish capacity to marshall statistics that bolster his arguments. But in sparring with host Kerr ... More >>
How do you create a budgetary "surplus" despite an economy that lags behind the national average in terms of job growth? By pretending inflation and court rulings don't exist.
There is a compelling argument to be made that the defining characteristic of the U.S. economy over the past two decades has been the steady rise in income inequality between classes. Sure, there is some truth to the old Reagan era aphorism that that a rising tide can lift all boats. But there is al ... More >>
Junior Senator's reponse to Katrina: Tax cuts for all my friends! It may have been Labor Day, but the powers that be in Minnesota Sen. Norm Coleman's office were apparently hard at work devising a plan. Coleman is clearly becoming a sort of trial-balloon politician for the neo-con agenda's most egr ... More >>
Or maybe in your tap water... The Washington Post reports on a study said to have "profound implications about the nature of human trust." Researchers in Zurich claim that huffing a dose of the hormone oxytocin (its main medical use at present is inducing labor in farm animals) makes test subjects m ... More >>
Boy in the bubble Is Alan Greenspan ready to admit that the housing market is clinically insane? The word of the hour is "froth." A little like foam, a little like scum, the word appeared in nine different articles within the last three days in the Wall Street Journal. In economic terms, "frot ... More >>
Here are some excerpts from Goldman-Sachs's March 14 market note, emphasis added:The Fed's flow-of-funds tables show a further pickup in mortgage equity withdrawal (MEW) to a record $640 billion, or 7.4% of personal disposable income, in 2004. Although cash-out refinancing was down somewhat, this ... More >>
Yesterday's Goldman-Sachs financial markets note contained some astounding numbers about the extent of borrowing against home equity in the US. In 2004 Americans drew down their home equity to the tune of more than half a trillion dollars for the second straight year: $528 billion in '03, $640 bil ... More >>