June 2017 - Minnesota Economic Trends
Our annual state-of-the-state issue of Trends provides an overview of the state economy and examines how Minnesota’s six major regions are doing midway through 2017. If there is a common theme, it is this: With baby boomers aging out of the workforce in high numbers, employers are struggling to find replacements. Job vacancies are at or near record highs in every area of the state.
Labor shortage aside, the overall economic outlook in Minnesota remains positive heading into the second half of the year. The state is keeping pace with the country in job growth, manufacturing hours are climbing, homebuilding permits are at their highest level in more than a decade and initial claims for unemployment benefits are at record lows.
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