While Minneapolis had the largest job loss in raw numbers, losing nearly 22,000 jobs during the period [past two years], that amounted to 7.2 percent of the city's jobs. St. Paul lost 4.3 percent of its jobs.
Which means Minneapolis still has 280,000 some jobs, which is probably more jobs than we have working age folks in our city. Which begs the question- why don't more of these workers live in Minneapolis rather than commute?... With WalMart and Target setting the wage scale they can't afford our housing, what with our city forcing the price of anything decent in the way of a house in a safe neighborhood well past what today's workers can afford.
Well of course Minneapolis had the largest in raw numbers....it's the largest city by far.
Note the headline in the Strib story, though (thanks for the link, Vicki!):
"Job loss hits hard in area suburbs."
Some of the suburbs held there own though, with Eagan showing a double digit gain.
Bloomington and Minnetonka both had double-digit losses - 10 and 17 percent
of their workforces, respectively.
Some of this may be just transfers of corporate offices from one suburb to another. For example, Best Buy moved from Bloomington to Richfield, and Rchfield showed a nice increase in jobs. Eagan's gain may be partly at Minneapolis' expense, as UPS continues to divert freight from it's Minneapolis hub to it's newer Eagan hub. In fact, the Mnneapolis hub still exists largely because UPS's Willow Springs hub in suburban Chicago still can't keep up with the package volume and presort it for Minneapolis routes.
Since the nation as a whole has lost more than 2 million jobs since
President Bush has taken office (the first president to post an overall job
loss during his term since Herbert Hoover), the number of places a business
could move TO is drastically diminished.
Agreed- we are hemoraging jobs like crazy under the current Bush (mis)administration. Worse yet, we're losing the good paying jobs that allow people to buy those $200,000 plus homes. State wide the loss was about 5%, almost as bad as Minneapolis.
Foolish spending is bad no matter what, or when - or where. This should not
be read as a specific indictment of Minneapolis.
Agreed, and the current unelected President's overspending make all of Minneapolis' petty cash in comparison. Our federal treasury is selling bond's like crazy to finance the attack on Iraq, and foreign investors are buying them up. Ultimately the Republican's spending spree will so drain the capital markets that interest rates will rise and force consumers and businesses out of the capital market. Then the unemployment will really take off.
From deflating Hawthorne,
Dyna Sluyter
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