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Thursday May 23, 2013

What are the forces moving the Minnesota economy? Adam Belz tries to identify the trends and show the connections between Minnesota and the larger U.S. and global economies. You can connect with him on Twitter: @adambelz

Posts about Business trends

Opening Belz, May 22

Posted by: Adam Belz Updated: May 22, 2013 - 10:35 AM

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Medtronic cuts 2,000 jobs, including 500 in MN – StarTribune
Schafer: Say goodbye to medical device sales reps – StarTribune
Magnetation gets approval for fourth MN iron ore plant – Duluth News Tribune
Sales of existing U.S. homes rise to November 2009 level – Bloomberg
Turkish banks are hot, with China, Qatar jockeying for a piece – Economist
Target’s earnings short of expectations, weather blamed – Bloomberg
Gasp! Wisconsin raw milk seller accused of running retail shop – Journal-Sentinel
Paywalled: Fungus invented to replace Styrofoam – New Yorker
Welcome to the real space age, the era of private spaceflight – New York Mag
A “must read” book on the Midwest by Edward McClelland – Midwesterner

Opening Belz, May 20

Posted by: Adam Belz Updated: May 20, 2013 - 9:33 AM

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United resumes Dreamliner flights today – Chicago Tribune
Greek shipping magnates seem to be doing just fine – TIME
2013 is not 1999 all over again for the markets – Reformed Broker
Minnesota ethanol producers hoping for better 2013 than 2012 – StarTribune
How Man U’s Sir Alex Ferguson is a little like Maggie Thatcher – Economist
Schafer: Dearth of public companies will continue, no incentive for IPOs – StarTribune
Care worker unionization showdown still happening in St. Paul – StarTribune
North Dakota jumps on MN tax policy to try to woo MN businesses – MPR
Hard to knock ND for trying – Duluth News Tribune

Minnesota sheds 11,400 jobs; unemployment rate drops to 5.3%

Posted by: Adam Belz Updated: May 16, 2013 - 10:07 AM

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Minnesota’s job market posted its second straight negative month, shedding 11,400 jobs in April, the state said Thursday.

The biggest job losses were in trade, transportation and utilities, which shed 5,700 jobs, according to figures released by the Minnesota Department of Employment and Economic Development.
 
Meanwhile, the Minnesota unemployment rate fell to a seasonally adjusted 5.3 percent in April, its lowest point since May 2008 and well below the U.S. rate of 7.5 percent in April. The March figures were revised upward from 5,200 jobs lost to 3,300 jobs lost.
 
Minnesota has now fallen behind the nation in job growth over the past 12 months, at 1 percent, compared with a U.S. rate of 1.6 percent during that period.
 
"While we've seen mixed results in the labor market in recent months, the overall outlook for jobs in Minnesota remains positive," said Katie Clark Sieben, commissioner of the department. "Eight of the state's 11 major industrial sectors have gained jobs in the past year, and the unemployment rate is at a five-year low."
 
Government, hotels and restaurants, manufacturing, professional and business services, financial activities and construction all lost jobs on the month as well.
 
In the state Metropolitan Statistical Areas, job gains occurred in the past 12 months in the Minneapolis-St. Paul MSA (up 1.5 percent), Rochester MSA (up 0.9 percent), Duluth-Superior MSA (up 0.8 percent), Mankato MSA (up 0.7 percent) and St. Cloud MSA (up 0.2 percent).

Opening Belz, May 13

Posted by: Adam Belz Updated: May 13, 2013 - 11:12 AM

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How a trader is thinking about an eventual rise in interest rates – Reformed Broker
Retail sales up, showing some economic strengthReuters
We’ve had fewer IPOs this year than last, but more money raised – WSJ
The 400 block of Nicollet is being transformed – StarTribune
Minnesota manufacturers pivot into oil industry – StarTribune
Sappi still investing in coated paper machines – Duluth News Tribune
Bobcat breaks ground on R&D facility in Bismarck – Fargo Forum
Trend: Technology elites are shutting down their gadgets – NY Times
“Grass is literally going unmowed” – Washington Examiner
Why you should take the blame – Harvard Business Review
A video that incorporates a great 2005 commencement speech – YouTube
The full transcript of the speech, by David Foster Wallace – More Intelligent Life

Opening Belz, May 10

Posted by: Adam Belz Updated: May 10, 2013 - 10:57 AM

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Best Buy hires new CEO for China business – StarTribune
Electric car maker Tesla turned a profit in the first quarter – Reuters  
A bull stock market is nice, but only 52% of Americans own stocks – NYT
Son of disgraced Peregrine CEO says his father is dead to him – Reuters
Timelapse satellite photos of the oil sands, Powder Basin, Dubai, others – TIME
Lakes are still too icy for a good walleye opener – MPR
A Q&A with Tom Stinson, the state economist – U of M
Hong Kong trade official makes a visit to Fargo – Fargo Forum
“Sometime in the last decade, dogs achieved dominion over urban America” – Slate

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