Duluth, State Seeing Economic Growth, if Only Slightly
Duluth, MN (NNCNOW.com) - According to Wells Fargo Economist Michael Brown, Duluth's unemployment numbers are currently at 6.6 percent, which isn't as low as Minnesota overall, but better than the U.S. average.
A few key factors in Duluth's economic gains, says Brown, have come from growth in local government, education, and health care services.Brown cites the area's universities as a key driver.
But challenges for Duluth, says Brown, will continue to be the region's exports, particularly in the European market.
"So, the story is, 'what's the Canadian economy and the European economy going to look like in the year ahead. We're still struggling to add growth in both of those economies. So, I think in terms of a pure export and transportation standpoint, we might have some challenges in the next year," said Brown, who is responsible for tracking national and regional economic trends.
Brown added that growth on a local level, though present, will likely remain slow for the first half of the year.