Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

Minnesota economy in 2021 beat pre-pandemic level even with fewer people working

The state's GDP rose 5.7% last year, in line with the nation's recovery pace, and beat 2019's level in absolute terms

 

Alex Kormann, Star Tribune

Minnesota's economy recovery matched the nation's in 2021. File photo of a cargo ship at Duluth harbor.

Minnesota's economy fell harder than the nation's when coronavirus hit in 2020, but the state matched the pace of the national recovery in 2021.

The state's real gross domestic product - its total output of goods and services, adjusted for inflation - rose 5.7% to $345.2 billion last year, the U.S. Commerce Department said in a release of preliminary full-year economic data for states Thursday.

The department a day earlier reported that the U.S. as a whole saw 5.7% real GDP growth in 2021, which was the fastest calendar-year growth since 7.2% in 1984. Both years followed recessions.

https://www.startribune.com/right-on-average-minnesota-economy-matches-u-s-rebound-in-2021/600160995/

 

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