The Minnesota Index advanced 0.3 percent for the second month in a row in July as wage and salary employment and average weekly manufacturing increased while the unemployment rate remained steady at 3.7 percent. The U.S. index also advance 0.3 percent ending a four month stretch where Minnesota’s index grow faster than the U.S. index
Minnesota’s index is up 3.5 percent over the year bettering the U.S. over the year increase of 2.8 percent. Minnesota’s index through the first seven months of the year is up 2.6 percent which is a huge improvement over the 1.6 and 1.5 percent recorded during the first seven months in 2015 and 2015. The strong showing by the Minnesota Index during the first seven months of the year is a strong indicator that Minnesota’s economy has shifted into a higher gear in 2017.