Economy

The nearly demolished iconic downtown Rochester restaurant closed around 10 years ago.

Will the United States go into a recession? Is the country in one now? These are questions that economists are asking. St. Cloud State Economist King Banaian joined me on WJON. He says economist don't know if a recession is happening but Banaian did highlight some concerning trends.

Minnesota recently finished previous fiscal year with revenues $421 million higher than forecast.

Despite the record-breaking jobs statistics, the unemployment rate for Olmsted County in July was the highest in nearly 3 years.

The Rochester-based healthcare giant's net operating income for the first half of the year is up 80% from a year ago.

In recent months, the Rochester area's job growth rate has been the highest in the state and now the number of jobs created over the past year is even higher than the total for the entire Twin Cities area.

The longtime benefactors have made a "transformational gift" to support Mayo Clinic's Bold. Forward. Unbound initiative.

It was a tough week on Wall Street last week and there have been numerous reports of job cuts. St. Cloud State Economist King Banaian joined me on WJON. He explains the recent troubles with the job market isn't a sign of a recession quite yet. Banaian says the job market is weaker and slower but he's not ready to say a recession is coming.

Much of the higher than predicted revenue came from income tax and corporate tax payments.

The local unemployment rate edged slightly higher