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Adam Belz

Business reporter | Economy
phone: 612-673-4405
Adam covers the economy for the Star Tribune and maintains a blog called 3D Economics. He wrote for the Cedar Rapids Gazette and The Des Moines Register in Iowa before moving to Minnesota in June 2012.
Recent content from Adam Belz
Beyond the metro area, job openings skew sharply to low end of skill, pay levels

Beyond the metro area, job openings skew sharply to low end of skill, pay levels

The tilt is the greatest since before the last recession.
Gentrification accelerates in Minneapolis and St. Paul

Gentrification accelerates in Minneapolis and St. Paul

High apartment rents are outpricing homes and pressuring the poor.
Few affordable pockets remain for low-income renters in Mpls.

Few affordable pockets remain for low-income renters in Mpls.

A long-term drop in crime, combined with a concentration of high-wage jobs and a renewed preference for urban life among highly educated workers, have made the city's core more desirable.
Minnesota shed 12,500 jobs in October, worst monthly loss since 2011

Minnesota shed 12,500 jobs in October, worst monthly loss since 2011

It is another worrying sign for a job market that has been slow-growing for a year and stagnant since July.
Big banks should sharply boost capital to help U.S. economy, Mpls. Fed says

Big banks should sharply boost capital to help U.S. economy, Mpls. Fed says

Proposal by president of Minneapolis Fed would require too-big-to-fail banks to pay a price for risk.

Utility customers targeted for more scams as winter sets in

Sophisticated fraud aimed at energy customers, often small businesses, is a big problem.
Kashkari's challenge this week: Not being ignored

Kashkari's challenge this week: Not being ignored

Minneapolis Fed chief to unveil a plan to reduce the effect of big bank failures just as political axis shifts.
Investors build wood-pellet plant in Arkansas, possible spur for northern Minnesota economy

Investors build wood-pellet plant in Arkansas, possible spur for northern Minnesota economy

International Falls group is spending $230 million on Arkansas plant
Trump may not be perfect, Minnesota supporters say, but he promises something new

Trump may not be perfect, Minnesota supporters say, but he promises something new

The Republican nominee is admired in the state for his plainspoken style, his business success and his pledge to shake things up.
U.S. Bank in feud with assisted living home over loan terms

U.S. Bank in feud with assisted living home over loan terms

Assisted living home says bank unfairly charged $250K for alleged default
SEC releases new, relaxed rules on investment crowdfunding

SEC releases new, relaxed rules on investment crowdfunding

SEC ruling is a step forward for Minnesota's fledgling investment crowdfunding community
Minnesota lands back in top 10 of tech-business rankings

Minnesota lands back in top 10 of tech-business rankings

Minnesota last found itself in the top 10 in 2004. The study has been conducted every two years since 2002.
Obituary: Lawrence Gibson, retired from General Mills, was a lifelong learner, social justice advocate

Obituary: Lawrence Gibson, retired from General Mills, was a lifelong learner, social justice advocate

Lawrence Gibson had much to celebrate when he dropped his car off at the mechanic on Monday afternoon. The 89-year-old was in good health, still…
Minnesota adds 1,900 jobs in September, a slight gain for the job market

Minnesota adds 1,900 jobs in September, a slight gain for the job market

The state is starting to see real wage growth.
Among parents, dads get all the fun and moms the stress and fatigue

Among parents, dads get all the fun and moms the stress and fatigue

Mothers and fathers are both happier when they're with their children, but 1950s-era parenting roles persist. And it's taking a toll on mom.
Twin Cities janitors unionize after retailers pressure contractors

Twin Cities janitors unionize after retailers pressure contractors

Twin Cities area is first major metro to have such workers as part of labor group.
Kashkari: Wells Fargo accounts scandal was just 'bad management'

Kashkari: Wells Fargo accounts scandal was just 'bad management'

Leadership, not bank size, was issue, Minneapolis Fed chief says.
Hot Mankato has jobs, but it just needs workers to fill them all

Hot Mankato has jobs, but it just needs workers to fill them all

Mankato and the surrounding towns boast the fastest-growing economic output of any Minnesota metro area. But that prosperity is not creating enough of the high-paying opportunities that would enable Mankato to retain educated, skilled workers.
Minn. AG questions Wells Fargo's tactics in disputing fake accounts

Minn. AG questions Wells Fargo's tactics in disputing fake accounts

Minnesota's attorney general weighed in on the Wells Fargo scandal, demanding that the bank end the practice of forcing customers into binding arbitration when they have a dispute with the company.
Measured in Big Macs, U.S. workers are doing great

Measured in Big Macs, U.S. workers are doing great

In China, workers earn about half a Big Mac for the same work that earns an American almost two-and-a-half.
Minneapolis Fed: Reining in big banks could spur shadow lending

Minneapolis Fed: Reining in big banks could spur shadow lending

Minneapolis Fed worries that shadow banking could fill in gaps of traditional lending.
Inside Wells Fargo, front-line employees describe big pressure, few rewards

Inside Wells Fargo, front-line employees describe big pressure, few rewards

Carolyne Giancola knew how to take “no” for an answer, but she says her bosses didn’t. When she worked as lead teller at the Elliot…
October 2015: Greater MSP group launches new front in war for talent

October 2015: Greater MSP group launches new front in war for talent

Low unemployment, aging workforce push companies to launch new initiative.
Kashkari takes to Twitter #economicscanbefun

Kashkari takes to Twitter #economicscanbefun

He's a fan of low interest rates and the Cleveland Browns.
Twin Cities economy posts solid gain in 2015

Twin Cities economy posts solid gain in 2015

The Twin Cities economy grew 2.7 percent last year. Here's how it fit in with the rest of the country.
U.S. Bank jumps into gaps left by megabanks

U.S. Bank jumps into gaps left by megabanks

The post-2008 regulatory squeeze on the world's largest banks has a silver lining for U.S. Bancorp: It's boosting the company's national ambitions.
U.S. Bank CEO says employees will be 'let go' if they slam Wells Fargo

U.S. Bank CEO says employees will be 'let go' if they slam Wells Fargo

Richard Davis makes clear that his firm's employees are not to exploit scandal.
U.S. Bank has branches in 25 states, and that won't change soon

U.S. Bank has branches in 25 states, and that won't change soon

CEO Richard Davis said this week he doesn't want to be in a market unless U.S. Bank is in the top 3 for market share.
Minnesota lost 1,500 jobs in August

Minnesota lost 1,500 jobs in August

Unemployment overall ticked up, but estimates of black unemployment are falling.

Minneapolis Fed searches for new research director

Sam Schulhofer-Wohl had been in the position since 2013 but is moving to the Chicago Fed.

Economic outlook brightens in rural Minnesota, a little

Good-paying jobs still a worry, but residents in central and west-central Minnesota are the most optimistic.
Meet the 'thug in pastels' who is reshaping Minneapolis politics

Meet the 'thug in pastels' who is reshaping Minneapolis politics

Javier Morillo's brash rise through union ranks earned him enemies in politics, business.
Fed chief Kashkari turns attention to American Indian economic struggles

Fed chief Kashkari turns attention to American Indian economic struggles

Kashkari met with leaders for update on challenges.

U.S. Bank rolls out checkless account aimed at the underbanked

The Minneapolis firm will open checkless "Safe Debit Accounts" for those outside the financial mainstream.

Minnesota adds 11,300 jobs in July

After a slow start to 2016, the state has added 26,900 jobs since the beginning of April.
U.S. is pillar of strength in trade, Treasury chief says

U.S. is pillar of strength in trade, Treasury chief says

Jack Lew lauds Minneapolis as prime economic example during visit
When I Work will move from St. Paul to Mpls. North Loop this fall

When I Work will move from St. Paul to Mpls. North Loop this fall

When I Work, which makes popular app for job scheduling, has outgrown the Drake Building.
Minneapolis Fed chief Neel Kashkari calls some racial disparity 'a crisis'

Minneapolis Fed chief Neel Kashkari calls some racial disparity 'a crisis'

He met with Twin Cities activists on Wednesday.
U.K. consul general: As trade partner, foreign investor, Twin Cities equal to Chicago

U.K. consul general: As trade partner, foreign investor, Twin Cities equal to Chicago

He said the U.K.'s new trade office in Minneapolis, which he requested a year ago, should open by the end of 2016.
Dark clouds loom for farmers and their bankers as crop prices languish

Dark clouds loom for farmers and their bankers as crop prices languish

Year 2 of losses strains lenders' patience, farmers' resolve.
Rep. Erik Paulsen optimistic TPP can get approval after election

Rep. Erik Paulsen optimistic TPP can get approval after election

The congressman says the trade deal is about more than economics.
U.K. will open new trade offices in Minneapolis, two other cities

U.K. will open new trade offices in Minneapolis, two other cities

The United Kingdom is the ninth-biggest buyer of Minnesota exports.
6 takeaways from Minnesota's June jobs report

6 takeaways from Minnesota's June jobs report

Unemployment held at 3.8 percent for the fourth straight month.

For U.S. Bancorp and a Philadelphia businessman, a bankruptcy case that will not die

A businessman who U.S. Bancorp pushed into bankruptcy has fought back in courts and won several victories, but the Minneapolis bank company says it's not over.
Outstate Minnesota businesses slipping behind firms in Twin Cities

Outstate Minnesota businesses slipping behind firms in Twin Cities

Chamber finds they trail in creating new products, exporting and hiring.
U.S. Bank shifts on instant payments, will offer them for free

U.S. Bank shifts on instant payments, will offer them for free

The news highlights the fast-moving landscape of services via smartphone.
Minnesota construction unemployment nears rock bottom

Minnesota construction unemployment nears rock bottom

Construction unemployment in the state fell to 2.1 percent in May, its lowest level since 2001, and the third-lowest rate in the country, according to estimates released Tuesday by Associated Builders and Contractors, a national trade group.

Stonebridge Bank to be acquired by Western Bank

Combined, there will be 7 Twin Cities locations.

After Brexit, the future is as clear as London fog for Minnesota firms

Uncertainty descended Friday on Minnesota firms that do business in Europe, as they wrestled with the effects of Britain’s startling decision to exit the European…
Who has money in Minnesota and Midwest? 5 new lessons

Who has money in Minnesota and Midwest? 5 new lessons

Personal income is growing slower here than in the nation, but it's still relatively high.

Financial tech start-up Apruve raises $2.25 million in funding

Apruve Inc., a Minneapolis-based financial technology start-up, said Wednesday it has raised $2.25 million in venture capital.The firm sells a platform for business-to-business transactions that's…
Brexit's impact on Minnesota would be indirect, for most

Brexit's impact on Minnesota would be indirect, for most

U.K. exit from the E.U. would roil markets, but most firms in state wouldn't be directly affected.
They're just the latest to turn away a $240 million hog plant

They're just the latest to turn away a $240 million hog plant

Northern Iowa town becomes latest to put the brakes on industrialized agriculture.
Kashkari stands by call to end 'TBTF,' favors higher capital requirements

Kashkari stands by call to end 'TBTF,' favors higher capital requirements

The president of the Minneapolis Fed signaled how his thinking has evolved in the past few months.
Ag slowdown, interest rates crimp banks in Upper Midwest

Ag slowdown, interest rates crimp banks in Upper Midwest

The year will likely be "relatively weak" compared to 2015, according to Fed's forecasts.

Minnesota loses 1,900 jobs in May, unemployment rate holds at 3.8%

Several sectors saw drops, though unemployment rate stayed at 3.8 percent.
6 takeaways from the Minnesota jobs report

6 takeaways from the Minnesota jobs report

Minnesota lost 1,900 jobs in May. Here's some additional detail.
Reshuffling at U.S. Bancorp as CFO to step down

Reshuffling at U.S. Bancorp as CFO to step down

Kathy Rogers will exit the role, with Terry Dolan moving into the position.
When I Work attracts $15M in venture capital, may move to Minneapolis

When I Work attracts $15M in venture capital, may move to Minneapolis

When I Work Inc., the St. Paul software firm whose app is an increasingly popular tool for scheduling work at small businesses and temporary jobs,…

SEC asks court to halt sale of 'fraudulent' Brazilian securities in Minnesota

Securities regulators target a Miami firm and Minnesota broker in "emergency" case.
Sportradar US signs deal with Associated Press

Sportradar US signs deal with Associated Press

Sportradar US, the sports data company with its U.S. operations in Minneapolis, has signed a deal to provide global sports statistics to the Associated Press.…
Comcast strives to improve, but complaints about service persist

Comcast strives to improve, but complaints about service persist

The company has said it's trying to fix its reputation, but still ranks low.

Online banking, transactions down at TruStone Financial

A technical glitch hit the fast-growing credit union.
Which jobs will be big in Minnesota? Health care's a gold mine, for one

Which jobs will be big in Minnesota? Health care's a gold mine, for one

OK, you've just graduated from high school and you're headed to college. Now what? What should you major in? Here's a look at what types of work will be available in five years.
Comcast vows better service, more Wi-Fi sites in Twin Cities

Comcast vows better service, more Wi-Fi sites in Twin Cities

Comcast said Thursday that it is trying to improve its customer experience and will add new services, along with 400 workers, this year in the Twin Cities.
US Internet's high-speed fiber hits a snag with Minneapolis Park Board

US Internet's high-speed fiber hits a snag with Minneapolis Park Board

The board denies request to extend fiber optic network under parkland.

TCF launches new service aimed partly at the 'underbanked'

Industry is targeting the "underbanked" with an atypical savings account.
Minn. private sector posts 2nd best month of job creation ever in April

Minn. private sector posts 2nd best month of job creation ever in April

Minnesota added 15,600 jobs in April, while the unemployment rate held steady at 3.8 percent.
At Minneapolis Fed, economists see risks in big banks but reject breakup strategy

At Minneapolis Fed, economists see risks in big banks but reject breakup strategy

Bernanke is cool to breaking up big banks; Kashkari draws a "Star Wars" analogy.
Tax on bank debt proposed at Minneapolis Fed meeting

Tax on bank debt proposed at Minneapolis Fed meeting

Government taxes things it wants to discourage — not as much to generate revenue as to change behavior. Cigarettes are taxed. So are sugary drinks,…
U.S. Bank, other big banks get off the dime on smartphone payments

U.S. Bank, other big banks get off the dime on smartphone payments

U.S. Bank and Bank of America got together this spring on a system that lets people instantly pay money to a friend on a smartphone — with a crucial difference.
Ben Bernanke says don't break up big banks, calls for 'more nuanced approach'

Ben Bernanke says don't break up big banks, calls for 'more nuanced approach'

The former Fed chairman, who will be in Minneapolis on Monday, previewed his comments in a blog post.
Sen. Durbin blasts credit card group for botched rollout of more secure cards

Sen. Durbin blasts credit card group for botched rollout of more secure cards

The Illinois senator says card transition has been "plagued by problems."
Small businesses bullish on Minnesota, bearish on nation

Small businesses bullish on Minnesota, bearish on nation

Small-business owners feel good about their own businesses, but they are getting more anxious about the national economy, according to an annual survey from…
Fed's Kashkari to markets: Quit obsessing over interest rates

Fed's Kashkari to markets: Quit obsessing over interest rates

Minneapolis Fed chief urges investors to weigh other issues, notes limits of monetary policy.
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