Confirming
yesterday's employment report, we find this sentence in
the state budget update:
While some of the lost withholding revenue appears to reflect smaller than anticipated bonus payments made in early 2009, withholding receipts in April, May, and June averaged more than $20 million per month below projections, consistent with weaker wage and employment growth than anticipated in February�s forecast.
The always downbeat Global Insights forecast offered by the MN Finance Department for their budgeting is forecasting -0.8% real GDP growth for
2010. Real income strongly influences midterm elections: Is it any wonder then that Congress (and the Minnesota DFL) is growing
ever more worried about the state of the economy?
Labels: economics, Minnesota
Permalink here.
Posted
by King : 9:01 AM
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