Minnsights Blog

Minnesota’s economic recovery forged ahead in July but at a slowing pace. This is a step in the right direction, but we’d like to see movement towards recovery.

It’s hard to put into words the impact that COVID-19 has had on all of our lives. We’re all feeling the sting, as employers, employees, parents to young children, children to older citizens and as members of our communities. 

It’s hard to tell where we are in the COVID-19 journey. Four months after the first case in Minnesota, the health risks continue, but businesses have endured state-mandated closures, decreases in consumer demand, supply chain disruptions and staffing challenges.

The lag in standard economic data collected by state and federal agencies typically requires us to view the economy through the rearview mirror.

Minnesota is at a critical point in our shared effort to manage COVID-19 and bring forth a recovery of our state’s economy. As many states experience upticks in COVID-19 cases, it is important that Minnesota businesses and citizens understand and put in practice effective health and safety precautions. We’ve all sacrificed a lot in the last few months to prevent dire health consequences from COVID-19. And now our economy is opening up again, mitigating long-term economic devastation in our state.