Minnesota’s economy is booming! The Bureau of Labor Statistics says that at 4.7% in May, the Twin Cities has the lowest unemployment rate in the nation for metro areas with one million or more people. A study by Cassidy Turley ranked the Twin Cities as the ninth best job growth market from 2012 to 2013. Between February 2012 and February 2013 the Twin Cities added some 41,000 jobs.
The U.S. Commerce Department said Minnesota tied California for fifth place in growth of gross domestic product in 2012, based on data for durable-goods manufacturing, construction, mining, agriculture, wholesale trade, and finance and insurance. The total value of Minnesota’s gross domestic product was $253 billion, which ranked 17th nationally.
Minnesota is ahead of much of the rest of the nation in economic growth and recovery! A strong economy can only help the housing market.