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Minnesota had a nearly 50% decrease in Leisure and Hospitality Employment from May 2019 to May 2020

The Bureau of Labor Statistics earlier today released data on the change in employment in the leisure and hospitality industry. As to be expected the changes in the industry are high when compared to changes in the entire labor force. This is potentially due to the fact that lockdowns largely targeted businesses in the leisure and hospitality industry....

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ACTION ALERT! Tell Your Legislator Clean Energy First Will Increase Electricity Prices and Could Kill 10,000 Jobs ASAP

Nearly 670,000 Minnesotans have lost their jobs since March 16, 2020 due to the Coronavirus shutdown, and on Friday, May 15 at 8:30 AM, the Minnesota State Senate Finance Committee will be considering passing the Clean Energy First bill, which could destroy thousands more jobs by paving the way for more expensive and unreliable forms of energy like wind and solar. Center of the American Experiment’s analysis has found this legislation would cost nearly $46 billion through 2050, cause electricity prices to increase by 35 percent in areas served by Xcel Energy, and that these higher electricity prices could destroy more than...

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Minnesota Has Highest COVID-19 Death Rate, and Highest Unemployment Rate, Out of Any Neighboring State

Nearly 625,000 Minnesotans have filed for unemployment since mid-March, and every day seems to bring new headlines of small businesses that will not survive the Coronavirus shutdown. Minnesota now has the highest unemployment rate of any of our neighboring states, according to the Tax Foundation. Despite the highest rate of unemployment in our area, Minnesota also has the distinction of having the highest COVID-19 death rate among these states, as well. In other words, it appears Minnesota has the worst of both worlds. Unemployment Rates The graph below was created by the Tax Foundation. It shows unemployment compensation claims as a percentage of...

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Fed: Economy “Remarkably Positive,” and Unprecedented in Modern History

The article below originally appeared in the Washington Post. - I know, I was as surprised as you are. Federal Reserve Chair Jerome H. Powell said Tuesday that the U.S. economy appears to be in the midst of a “remarkably positive” period that is unprecedented in modern history. The Fed is predicting that unemployment will remain below 4 percent through 2020 and that inflation will stay low — around 2 percent — during that time. This has never happened in modern U.S. history. The last time unemployment was that low for several years, in the 1960s, it triggered high inflation, but the central...

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