Optimistic Report on Minnesota Job Growth
Undated (KROC-AM News) - After declining for the past five straight months, there was a modest rise last month in a respected measure of potential growth for Minnesota’s economy.
The latest Mid-America Business Conditions Survey put the state’s overall economic index for November at a healthy 57.8. That is up 1.5 points from October and is over 10 points higher when compared to the reading from November of last year.
Any reading above 50 is a predictor of future economic growth, while readings below 50 forecast slowing economic activity.
The strongest component of last month’s index was production or sales at 69.4, with employment a strong second at 64.5. The employment number is the highest it has been since June and is over 20 points higher than it was a year ago, suggesting Minnesota could enjoy significant job growth during the first quarter of next year.
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