Jeanne Boeh, professor of economics at Augsburg College, was one of several experts quoted in a recent Star Tribune article on the current state of Minnesota’s economy. She attributes Minnesota’s steady economy to its diversity, which makes it less dependent on agriculture than neighboring states.
“Because we’re a diversified economy, we will keep trudging along at a lukewarm pace and eventually the labor shortages will happen and employers will raise wage rates more in order to get good workers,” Boeh said. “I think we are OK.”
Though the $700 billion bailout package became law last week in the U.S., financial markets across the world are in turmoil. Augsburg College as an institution has been fortunate so far and avoided most of the damage. However, faculty, staff, and students are in the same economic peril as our fellow citizens.