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State Economist Tom Stinson announced today that he's retiring from Minnesota government. Stinson, 70, has been the state economist since 1987. He was responsible for predicting Minnesota's budget outlook by analyzing state and federal economic indicators and mixing those trends with state government spending patterns.

He has become a mainstay in February and November as he delivered either joyous or sobering budget news to the governor and state lawmakers. Policymakers used those forecasts to set the two-year budget and balance the state's books.

Stinson will be replaced by Laura Kalambokidis, an economics professor at the University of Minnesota. She will be the first female state economist in Minnesota's history.

At a news conference this morning, Stinson said he was ready to step aside.

"The state's in pretty good financial shape," Stinson said. "The economy is in better shape than it's been in quite a few years. This is just a good time to do it."

Stinson says he'll continue to teach at the University of Minnesota. He said his biggest worry when preparing the state's budget forecast was a $200 million arithmetic error (which he said never happened). He said his most difficult time in the job was during the state government shutdown in 2011.

Stinson is known for having a dry delivery during his budget forecasts but he also has a wry sense of humor. You only need to read this 

Kalambokidis says her main job will be to produce "accurate and relevant forecasts to continue the long tradition that Tom and his staff have developed at MMB."

Tom Stinson retires as State Economist

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