Posted at 3:45 PM on December 1, 2011
by Paul Tosto
Filed under: Jobs and unemployment
When it comes to jobs, the good news is Minnesota didn't fall as hard as the nation during the Great Recession and, as State Economist Tom Stinson noted today, Minnesota jobs and wages are growing faster than the national average, a growth expected to continue through 2012.
But as any sufficiently glum economist will tell you, no one should get overly excited about forecasts.
State officials today dialed back again on when they think Minnesota will return to pre-recession employment. Now it's 2014.
In its forecast a year ago, state officials said they'd be back by the middle of 2013, which was a pullback from its prediction a year earlier.
From December 2010:
The number of jobs Minnesota employers add to their payrolls is forecast to average just 2,000 a month in the early part of next year before picking up to over 4,000 by early 2012.
From Today's forecast:
The number of jobs Minnesota employers add to their payrolls is forecast to average 2,300 a month in the first half of next year before picking up to over 3,500 a month by early 2013.The Great Recession began officially four years ago this month. it's mind blowing to think that it will take another two years, at least for Minnesota employment to recover.