Economic Downturn
Economic Downturn
  • Dow plunges 281 as investors worry about banks, GM
    Stocks ended at 12-year lows Thursday, more than wiping out the previous day's rally. Investors wrestled with more disheartening economic data, new concerns about GM and relentless uncertainty about the financial system.March 5, 2009
  • MIA lays off 6 percent of its staff
    The Minneapolis Institute of Arts today announced it is eliminating 11 full-time positions and 8 part-time positions as a result of the economic downturn.March 4, 2009
  • Hennepin County managers get unpaid leave
    Hennepin County department directors will have to take three days of unpaid leave in 2009 to help relieve the county's budget crunch.March 3, 2009
  • Another mining company announces cutbacks
    Another taconite mining company is announcing cutbacks -- this time in the Iron Range city of Virginia, Minn.March 3, 2009
  • Dow finishes below 7,000 for first time since '97
    The Dow plummeted below 7,000 at the opening bell and kept driving lower all day, finishing at 6,763 -- a loss of nearly 300 points. Wall Street seems to have given up the search for a reason to believe that the worst is over.March 2, 2009
  • Survey: Bleak outlook for Midwest economy
    The economy showed a small improvement last month in nine Midwest and Plains states, but a survey of business leaders suggests the outlook remains bleak and job losses will continue.March 2, 2009
  • Consumer spending rises in Jan., unlikely to last
    Consumer spending rose in January after falling for a record six straight months, pushed higher by purchases of food and other nondurable items.March 2, 2009
  • Minn. budget deficit expected to rise, some say to $7 billion
    Three months ago, state finance officials released a forecast that projected a $4.8 billion deficit for the next two-year budget, as well as a shortfall in the current biennium.March 2, 2009
  • January jobless rate rises to 7.6 percent
    Minnesota's seasonally adjusted unemployment rate rose to 7.6 percent in January, the highest rate since mid-1983.February 26, 2009
  • Economy continues to struggle
    As the recession persists, existing homes sales fall, and President Obama pushes Congress to write new rules for banks, MPR's chief economics correspondent Chris Farrell joins Midday to answer listener questions about the economy.Midday, February 25, 2009
  • Target 4Q profit falls 41 percent amid downturn
    Minneapolis-based Target saw its sales and earnings drop steeply in the fourth quarter, as consumers continued to keep a tight hold on their wallets. As the nation's unemployment rate rose, more of the discount retailer's customers had trouble making payments on Target credit cards.February 24, 2009
  • Health coverage can be either spendy or restricted after a layoff
    If you lose your job, you typically lose your health insurance. There are some insurance options for the unemployed, but they're often pretty hard to get.February 23, 2009
  • Uptick in home sales may be a sign
    The latest numbers show that Twin Cities home sales are up slightly over last year, a sign that the housing market is beginning to stabilize.February 23, 2009
  • Dow ends at lowest close in more than 6 years
    The Dow Jones industrial average closed this afternoon at its lowest level in more than six years at the 7,466 level.February 19, 2009
  • Best Buy cuts 250 jobs, adds 210
    Richfield-based Best Buy is handing out 250 pink slips today to employees. But it's also posting 210 new positions.February 19, 2009

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