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Nov 9, 2021 · The estimates of job loss in the restaurant industries of both St. Paul and Minneapolis are particularly large compared with other studies of minimum wages, implying that at least some businesses in the Twin Cities were quite sensitive to the actual or imminent increases in labor costs. Future research will examine economic outcomes of specific ...
Aug 18, 2022 · Wages rise amid labor availability strains. Finding workers for open positions continued to be a major strain on businesses in the district. A majority of firms reported that labor availability was a bigger challenge to their productivity than supply chain disruptions, higher financing costs, and even price increases (although by a very slim ...
Sep 11, 2023 · There are wide gaps between sky-high executive compensation and the average worker salary. Housing is gobbling up more of people’s wages, as are rising prices for necessities like food, health care and child care. The state also has persistent racial and gender disparities in income. Here are five charts on the state of labor in Minnesota.
Feb 27, 2023 · However, many firms pointed to rising labor costs as a bigger challenge for finding and retaining staff, rather than a lack of applicants. One South Dakota business owner explained that “it’s not necessarily difficult to find good people looking to work for our organization, it’s just considerably more expensive to get prospective employees to make a [job] change.”
Since January 2021, nonfarm private sector wages in Minnesota posted an average OTY growth of 3.9%, while the CPI's average growth has increased to 5.4% in the Minneapolis-St. Paul area (5.5% nationally). While the current trend is growth in prices to outpace growth in wages, the larger picture is more complex.
May 11, 2022 · May 11, 2022. Look to recent headlines in the Star Tribune for some stunning economic news. Consider: Minnesota's budget surplus balloons to nearly $9.3 billion (February 28, 2022) High fuel costs threaten Minnesota economy (March 20, 2022) For these Minnesotans, some jobs are worth striking for (March 19, 2022) Minneapolis fed chair says he ...
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Does Minnesota have a cooling labor market?
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Aug 3, 2024 · Professional and business services firms have struggled to find qualified workers even as the labor market has softened, according to the results of a survey the Minneapolis Federal Reserve and ...
