Unemployment insurance taxes from businesses would be slashed by a total of nearly $350 million under Gov. Mark Dayton's revised budget proposal.
In the wake of the Great Recession, some employers are choosing to use independent contractors instead of hiring permanent employees. But that cost savings strategy can result in lawsuits or hefty fines. Federal agencies and private law firms are going after businesses that misclassify employees as contractors as a way to save money.
Minnesota's economy added 14,500 jobs last month, and January's tally was revised upward by another 1,400 jobs.
Twin Cities home sales faltered in February, dropping about 5 percent from the same month a year earlier.
Job openings posted online dipped in February, nationwide and in Minnesota according to the latest report from The Conference Board.
Job recovery in Minnesota is further along than thought. The Minnesota Department of Employment and Economic Development has issued revisions to the state's job numbers going back almost two years. The new numbers suggest that in another month or two, Minnesota's payroll levels will return to their pre-recessionary peak.
Minnesota's employers added about 12,000 new jobs in January, which helped put the state's job market 90 percent of the way back to pre-recession levels.
The new state budget forecast indicates Minnesota's job market will grow modestly and employment could finally return to pre-recession levels this year. The review out yesterday says federal spending cuts taking effect today threaten relatively few jobs in Minnesota. But political uncertainty continues to be a damper on growth.
Across-the-board federal budget cuts known as the sequester are unlikely to derail the state's economy, says Tom Stinson, state economist.
Home prices in the Twin Cities finished 2012 with their strongest gains in more than a decade, according to a new report Tuesday.
Minnesota's community banks enjoyed some financial gains in 2012, according to a report from the Federal Reserve Bank of Minneapolis. But it was not a banner year.
The Mayo Clinic said its planned expansion will create about 35,000 jobs in Minnesota; 10,000 to 15,000 of those jobs would involve direct employment at Mayo. Some experts are skeptical of the job projections.
Home foreclosures in Minnesota have fallen to their lowest level since 2006, according to the Minnesota Home Ownership Center.
The Twin Cities housing market posted more signs of health in January.
The glut of homes that the housing crisis dumped into the real estate market has largely dried up. By the end of last year the supply of homes for sale in the Twin Cities hit its lowest level in 10 years. Reluctant sellers are partly responsible for those low inventories. Many home owners still feel uneasy about putting their homes up for sale.