Minneapolis, A Midwestern Economic Beast

“All 18 industries – services to financial – in the City of Minneapolis have seen net gains in the number of jobs; that is, more than 22 thousand jobs…”

By Matt Johnson, The Systems Scientist

Photo Courtesy of ids-center.com - Nicollet mall in the evening
Photo Courtesy of ids-center.com – Nicollet mall in the evening

Throughout my writings, I have been explicitly and implicitly illustrating an argument for why Minneapolis is currently a strengthening economic system. I have shown this through foreclosure and condemned and vacant building (CVB) data; and I have shown this through unemployment and rising wages data.

I have even alluded to the fact that all 18 industries acknowledged and analyzed by the Minneapolis Trends Report have seen net gains in the number of jobs over a three period from the first quarter of 2012 through the fourth quarter 2014. I have the data tables to illustrate this fact.

Let me repeat this one more time. All 18 industries – services to financial – in the City of Minneapolis have seen net gains in the number of jobs; that is, more than 22 thousand jobs according to my data and research. Why is this data important? And what’s the main argument?

Figure 1
Figure 1

When compared to other midwestern cities such as Cleveland, Kansas City, Omaha, St. Louis, and Wichita, the data will illustrate Minneapolis’ economic power. As an example, some of the data I have compiled not only shows Minneapolis’ median household income is higher than those other five cities, but that from 2000 to 2013, the number of dollars for the median household income was greater in Minneapolis than the other cities. And with that, the percent change was also higher in Minneapolis. But the median household income is just one variable in complex system with an infinite number of variables.

So why compare the midwestern cities and their respective economic systems? First, to illustrate that Minneapolis is the economic beast of the midwest. And second, despite the title of economic beast of the midwest, not everyone in Minneapolis is benefitting from this economic success.

For further exploration of this subject, we suggest Economies, Policies, and Systems. Please note, there are similar articles posted below the Twitter, Facebook, and Google+ sharing buttons. Please do share!

**Remember, there is nothing more American than discourse. You are always welcome to post your comments, thoughts, and questions below. Feedback is always appreciated!

 

3 thoughts on “Minneapolis, A Midwestern Economic Beast”

  1. Thanks for this blog post regarding Minneapolis’ economy; I really enjoyed it and am definitely recommending this blog to my friends and family. I’m a 15 year old with a blog on finance and economics at shreysfinanceblog.com, and would really appreciate it if you could read and comment on some of my articles, and perhaps follow, reblog and share some of my posts on social media. Thanks again for this fantastic post.

    Liked by 1 person

    1. Thanks for visiting and reading my most recent article about Minneapolis and its economic system. I did get a chance to sift through your blog. A 100,000 views in less than a year is impressive.

      I did get a chance to read a few of your articles. Good stuff. I am always looking for guest columnists. I would be happy to repost a few of your blogs through this site. And if you want to expand platforms, you are welcome to write articles for Urban Dynamics. Have you written any articles about cities and their economies?

      Liked by 1 person

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