Grawe Says State’s Economy Not Recession Proof But Less Volatile
Nathan Grawe, professor of economics and chair of the department, is quoted in the Nov. 24 edition of the Star Tribune about a recent report about Minnesota’s economy. Grawe, responding to a report that showed the state’s revenue growth during and after the Great Recessionwas third highest, according to the Pew Charitable Trust. Calling the state recession-proof would be a mistake, he said. But in the past 70 years Minnesota’s economy has moved from being more volatile than the national average to less volatile than the national average. “A lot of that was moving away from agriculture,” Grawe explained. While agriculture still plays a major role in the state’s economy, Minnesota has expanded into medical technology, higher education, insurance, finance and other industries that pay good wages and offer job stability, Grawe said.
Nathan Grawe, professor of economics and chair of the department, is quoted in the Nov. 24 edition of the Star Tribune about a recent report about Minnesota’s economy. Grawe, responding to a report that showed the state’s revenue growth during and after the Great Recessionwas third highest, according to the Pew Charitable Trust. Calling the state recession-proof would be a mistake, he said. But in the past 70 years Minnesota’s economy has moved from being more volatile than the national average to less volatile than the national average. “A lot of that was moving away from agriculture,” Grawe explained. While agriculture still plays a major role in the state’s economy, Minnesota has expanded into medical technology, higher education, insurance, finance and other industries that pay good wages and offer job stability, Grawe said.