GDP:
Gross Domestic Product – Minneapolis, St. Paul, & Bloomington. Access Chart Here.
Home Sales:
Despite citywide (Twin Cities & suburbs), Twin Cities median home prices jumped 12.7% from June 2020 to June 2021. “Pending home sales rose 0.4 percent.” [Twin Cities median home prices jump 12.7% $355,000, St. Paul Pioneer Press, Kai Sanchez, July 14, 2021, p. A9].
“The October sales surge put to rest, at least for now, concerns about an urban exodus. Though many Twin Cities did decamp to the suburbs and to more rural areas to escape rising crime and high-density living in the suburbs, there were plenty of buyers to take their place.” [Twin Cities home sales surge led by 47% increase in Minneapolis. Star Tribune, by Jim Buchta, November 19, 2020]. Read Here.
Twin Cities Unemployment Data:
Unemployment Data – Minneapolis, St. Paul, & Bloomington. Access Chart Here.
Statewide unemployment statistics:
53% of jobs lost to pandemic were recovered by Oct. 31, 2020.
47,000 workers left the workforce entirely in Sep. 2020.
4.6% was the unemployment rate for month of Oct. 2020
[Minnesota’s jobless rate declines to 4.6% as more workers leave labor force. Star Tribune, by Kavita Kumar, November 19, 2020]. Read More.
“Minnesota’s labor force in May [2020] consisted of 3,067,999 people, an increase of 1,500 compared to April. The unemployment rate in Minnesota rose from 8.7 percent of the labor force to 9.9 percent of the labor force. This is lower than the national rate of 13.3 percent.” [What’s up with unemployment in Minnesota? The view from the May numbers. MinnPost, June 22, 2020, by Louis D. Johnston].
Minority Owned Businesses:
Minority Owned Businesses in Minnesota (2012) – Access Table Here.
- 4.5% of businesses in Minnesota are black-owned (in 2012), up from 1.2% in 1992 [Bureau of the Census, 1996]
- List of selected black-owned businesses (KARE 11, July 2020) – Access List Here.
Headlines:
Cargill loses title of largest private company in U.S. [Star Tribune, by Kristen Leigh Painter, November 25, 2020]. Read Here.
Minneapolis no longer Canadian Pacific’s U.S. headquarters in $25B deal. [Star Tribune, Kim Hyatt, March 21, 2021]. Read Here.
Photographs:
Economic collapse is evident in this sign of post-industrialization in Northeast Minneapolis. Railroad locomotives have fewer and fewer trains to pull. The question is whether transportation is simply switching from trains to over-the-road, but many of the former rail lines are now being replaced statewide with bicycling or hiking trails. (Photo by Twin Cities Almanac, 2020).
Tractor trailer shipping containers located in the Midway area of Minneapolis near the now-raised grain elevators and the Burlington Northern Santa Fe (BNSF) shipping yards. (Photo by Twin Cities Almanac, 2020).
Site of the former Ford Motor Assembly Plant south of Ford Parkway in Highland Park, St. Paul, MN, looking south. It closed in December 2011. With the buildings razed, the site is being prepared for redevelopment. (Photo by Twin Cities Almanac, 2020).