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The Minneapolis Federal Reserve Bank says the
economic downturn will continue in 2009, with unemployment rates
rising and recovery in the home building and the real estate
markets expected to take more than a year.
     

 The outlook announced Wednesday is for Minnesota, the Dakotas,
Montana, northwestern Wisconsin, and Michigan's Upper Peninsula.


      Economists with the Minneapolis Fed says unemployment in the
eastern part of its region will be worse. For example, Minnesota's
unemployment rate could reach 7 percent by the end of 2009.


      But in Montana and the Dakotas, the employment outlook is better
because of strength in the natural resources and agriculture
sectors.


      The Fed's outlook is based on both a forecasting model and
surveys of business leaders.

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Business and Economic News

The Minneapolis Federal Reserve Bank says the
economic downturn will continue in 2009, with unemployment rates
rising and recovery in the home building and the real estate
markets expected to take more than a year.

Mpls. Fed forecasts rising unemployment in 2009

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