Minnesota ranks ninth in strongest economy category during COVID-19. | Pixabay
Minnesota ranks ninth in strongest economy category during COVID-19. | Pixabay
Despite widespread shutdowns and restrictions, the Minnesota economy has shown resilience and positive signs in several key metrics, according to The Center Square.
In a study conducted by 24/7 Wall St., Minnesota was found to be the ninth strongest economy in the COVID-era. Minnesota was able to escape the heaviest effects of the nationwide shutdowns, as the states most heavily impacted were those with economies that heavily depended on tourism and recreation.
The study ranked states using four key metrics including GDP growth, employment growth, June jobless rate and poverty rate. Minnesota ranked notably ahead of other states in the Midwest in both jobless rate and poverty rate, vaulting it to the ninth best spot in the country.
Though the economic growth of the state remains suppressed under the threat of the coronavirus, it has succeeded in avoiding widespread unemployment and an inflated poverty rate.
The data used in the study was sourced from several government agencies.
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