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Legislative News and Views - Rep. Jeanne Poppe (DFL)

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Jobless rate at lowest level in 8 years

Wednesday, October 22, 2014

According to a new report from the Minnesota Department of Employment and Economic Development, our statewide seasonally-adjusted unemployment rate dropped to 4.1 percent in September, the lowest level in eight years. Although the degree of economic growth varies throughout the state, there has been border-to-border improvement from where we found ourselves two years ago.

Instead of hundred million dollar deficits, we have hundred million dollar surpluses and more money in our budget reserves. Instead of billions of dollars of debt to our schools, every penny of our IOUs have been paid back. Instead of cutting funding for our children’s education and raising college tuition, Minnesota is providing all-day kindergarten for every child and keeping college tuition flat for the first time in years. Instead of ignoring improvements to our roads and bridges, a long overdue down payment is finally enhancing safety and adding capacity along key ‘corridors of commerce.’ Instead of getting your health insurance cancelled when you get sick and need it most, Minnesotans have peace of mind knowing their coverage is secure and cannot be taken away.

There are a number of reasons behind Minnesota’s economic success. Of course, the lion’s share of credit rightly goes to our highly educated workforce and our innovative businesses, both large and small. They are the engines of our economy. But it’s important to remember the role our elected officials play. We are responsible for listening to our constituents and making sure their priorities are reflected in the legislative process. Over the past two years, they told us they wanted a stronger commitment to education, property tax relief, fiscal stability and economic growth, so we followed suit.

We raised new revenue to fill a $600 million budget deficit and put more state funding into rural schools, property tax rebates for homeowners, renters and farmers as well as aid to rural counties and cities. That new revenue was raised largely by closing corporate tax loopholes and a small income tax increase on the wealthiest two percent. It was a clear departure from the failed philosophy that tax cuts for the wealthiest Minnesotans and biggest corporations are the only path to economic growth.

It turns out Minnesota is doing well. We are heading in the direction of an economy that works for everyone, not just those at the top. I am glad we were able to break through a decade of gridlock and do the job that Minnesotans elected us to do.