The state’s look into the future predicts "the new normal"
Minneapolis and the rest of the state will have to adjust to an aging population and a more efficient job force as the nation makes it way out of the recession. State Economist Tom Stinson and State Demographer Tom Gillaspy explained what the "new normal" will be at a special presentation to Minneapolis City Council on Friday, Oct. 29.
The presentation – Minnesota and the New Normal – outlined how the state’s economy has changed and how the state is forecasting future growth by predicting demographic changes. The state’s projection states that the "new normal" could include higher interest rates, slower economic growth, an aging population, decreased consumption and more savings, a diverse population, and more uncertainty in personal and national futures. To view the complete presentation, follow the link below.
Published Nov. 2, 2010