The Atlanta Fed’s GDPNow tracker downgraded its forecast for Q3 GDP growth again: it has now dropped from 6 percent at the end of July to 1.3 percent now. Then came the…
If you are a business owner whose livelihood has been upended due to lockdown measures, chances are that, at first, you took solace in the fact that your loss would…
In June, a bill passed in St. Paul waiving taxes owed on 2020 unemployment benefits and, something we argued for, payroll loans. Incredibly for a state government that is so…
Last week, The Globe carried a story titled ‘Southwest Minnesota sees labor shortage, including Nobles County‘: The numbers in southwest Minnesota still add up to a labor shortage, the Nobles…
When I wrote in the Star Tribune in April that ‘enhanced’ unemployment benefits were one factor explaining the puzzle of record job openings coexisting with elevated levels of unemployment, not everyone agreed. One response claimed…
On Wednesday, I wrote about how, in a recent interview with the Pioneer Press, I spoke about some of the schemes the federal government used to aid businesses during the…
Yesterday, I wrote about new research which suggested that 15 percent of Paycheck Protection Program (PPP) loans were fraudulent. There was always going to be an element of this, I…
A couple of weeks ago, I spoke to the Pioneer Press about some of the schemes the federal government used to aid businesses during the COVID-19 pandemic, such as the…
Yesterday I wrote about the the surge of the ‘Delta variant’ of COVID-19 in Minnesota. What might our state be facing in this situation? The recent experience of the United…
‘As delta variant causes surge in cases, officials closely watching new mutation.’ So KSTP reported at the weekend. ‘Minnesota Officials Urge Shots as Delta Variant Surges,’ U.S. News reported. “‘I’m…
A tale of two Starbucks Downtown Minneapolis has been a strange place to go for more than a year now. First, COVID-19 hit in March last year. Businesses were closed…
The ‘surge’ in cases of the ‘Delta Variant’ of COVID-19 is prompting a clamor for the return of so-called ‘Non-Pharmaceutical Interventions’ (NPIs) — mask mandates, shutdowns and the like —…
Rochester’s economy is heavily dependent on the healthcare sector. In 2019, Ron Wirtz wrote for the Federal Reserve Bank of Minneapolis: It’s hard to overstate the influence of Mayo and…
When I wrote in the Star Tribune in April that ‘enhanced’ unemployment benefits were one factor explaining the puzzle of record job openings coexisting with elevated levels of unemployment, not…
A month ago, there were more jobs open in Midwest than there were unemployed workers to fill them. “Midwest” might be a slightly awkward geographic entity to analyze but you…
I have commented a few times recently on the puzzle of elevated numbers of unemployed Minnesotans at a time when there are large numbers of jobs available. This puzzle becomes…