Many Minnesota Jobs May Not Return For 2 Or More Years
I don't think there are any of us that hasn't been affected in some way from all the loss of jobs in Minnesota due to the pandemic. You've either lost your job and even if you didn't, you most likely know someone that has lost their job.
That stimulus check back in April may have helped a bit and the add-on to unemployment checks certainly helped. But it has been many months since then and people are really hurting. Hopefully, Congress can arrive at an agreement soon and get help to those out of work and businesses that are suffering from the shutdowns.
According to a report from The Minnesota Dept of Employment and Economic Development, it may be two years or maybe longer before Minnesota can recover the thousands of jobs lost in 2020 from the pandemic.
Until recently, we were seeing the beginning of a rebound that started in May but due to recent shutdowns we are pretty much back where we started. According to the MN Dept of Employment and Economic Development, as of October, Minnesota's economy “had recovered 52.5% of the jobs lost in March and April” when the shutdown was in effect.
Also, according to the report “Job growth in the state over the next year will be, as it has been since the pandemic arrived, heavily influenced by the path of the pandemic and the size of any future round of federal pandemic relief spending."