economic recovery Archives - The Minnesota Sun

Minnesota Senators Pass Unemployment Insurance Trust Fund Bill

February 16, 2022February 15, 2022 The Center Square

A bill to repay Minnesota’s federal Unemployment Insurance Trust Fund passed the Senate Monday and it will now travel to the House for consideration.

The bill, SF 2677, appropriates $2.3 billion from the state fiscal recovery federal fund and $408.5 million from the fiscal year 2022 general fund to the commissioner of employment and economic development.

The commissioner would repay the federal government outstanding loans and accrued interest within 10 days of the bill’s enactment. For the 2022 and 2023 calendar years, the base tax rate would be one-tenth of one percent.

Biden’s Approval Rating Tanks Again in Latest Poll

October 4, 2021October 3, 2021 Minnesota Sun Staff

President Joe Biden’s approval rating has declined to 50%, its lowest level since he took office, the latest Associated Press-NORC poll showed.

While 50% of Americans approved of Biden’s job performance, 49% disapproved, according to the AP poll released Friday. The survey — conducted between Sept. 23-27 — showed the president’s approval rating declining to 85% among Democrats, 38% among Independents and 11% among Republicans, each category’s lowest level of Biden’s presidency.

Cities in Red States Show Best Economic Recovery from the Pandemic

July 8, 2021July 7, 2021 The Center Square

As the country continues to climb back from more than a year of an economic downward spiral during the COVID-19 pandemic, cities in states with Republican-led governors that imposed fewer restrictions are experiencing a faster and more robust comeback.

A study by WalletHub ranked the top 180 cities in the country to determine where economic recovery is occurring.

Commentary: Joe Biden, Economy Killer

May 8, 2021May 7, 2021 RealClearWire

Along with a working vaccine, Joe Biden inherited a V-shaped economic recovery, but he is now planting the seeds of its destruction. Inflation, federal deficits, high taxes, incentives for workers to stay home, and incentives to avoid investment – they’re all coming back. Together, these elements create the perfect brew for a Lyndon Johnson-style stagflation. If Biden and the Democrats so quickly wreck the good economic path they were given, it will be one of the worst examples of government malpractice in U.S. economic history.

In the first, dark days of the COVID-19 national economic shutdown last spring, there was a clear need for major stimulus. Both parties united to pass an effective and much-needed response.

The U.S. gross domestic product saw a 33.4% surge in the July-September third quarter of 2020, after plunging 31.4% in the April-June second quarter. The economy continued to grow at a 4% rate in the fourth quarter, and the stock market (despite COVID) ended 2020 with the S&P 500 index up 16% for the year as a whole.

Recovery Continues, Economy Should be Back to Peak in Fourth Quarter

October 12, 2020October 11, 2020 Minnesota Sun Staff

The rapid recovery from the lockdown continues. Economic reports from September indicate the economy has rebounded to 97 percent of its peak reached this past February. The surge in new orders for both manufacturing and service companies points to further gains in the months ahead.

These gains should bring the economy’s output and spending (GDP) back to its prior peak during the fourth quarter of the year.

Commentary: Economic Recovery Continues as 3.7 Million Jobs Added in August

September 5, 2020September 4, 2020 Minnesota Sun Staff

The U.S. economy added another 3.7 million jobs in the month of August, according to the Bureau of Labor Statistics’ household survey of Americans reporting they have jobs, bringing the total up to 13.8 million jobs that have been recovered since labor markets bottomed in April, something almost nobody but President Donald Trump was predicting.

At the worst of the coronavirus recession, as many as 25 million jobs were lost by April, and now more than half of those jobs have been regained, as a V-shaped recovery has clearly formed.

Great Economic News Bedevils Trump Detractors

September 19, 2018September 18, 2018 Admin

by Rick Manning The incredibly positive economic data that keeps coming out from both private and public sector sources leads to one overriding question: Will the Trump economic detractors ever get tired of being wrong? Over the course of the past six months, we have heard how tariffs against the…