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Business Leaders Hear Update on Regional Economy

Updated: November 01, 2019 03:39 PM

Consumer confidence in the Northland is falling, but there are some signs of business growth.

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Those were some of the findings presented Thursday at the Regional Economic Indicators Forum.  Students from the University of Minnesota Duluth, College of St. Scholastica, and University of Wisconsin-Superior prepare data to present to business leaders twice a year.

"Our businesses really do need this information and want to hear this information, so it's great to have these events twice a year and have them come here and connect and hear the info that they wouldn't have access to and have them connect to students and hopefully get people hired," said Hannah Horman, the marketing director for National Bank of Commerce who also serves on the steering committee for the forum.

Among the findings presented Thursday:

  • There are more job openings in the northland than people seeking work.
  • Consumers have started giving negative sentiments about personal finance and current economic conditions. 
  • A majority of area chambers of commerce predict business activity will improve in the next six months.

The information presented Thursday, along with past presentations, is available at https://nbcbanking.com/About-NBC/R-E-I-F/.

Ron Painter, President & CEO National Association of Workforce Boards, delivered the keynote address at Thursday’s event.  Ron Wirtz, the Regional Outreach Director for the Federal Reserve Bank of Minneapolis, is scheduled to speak at the next forum in March.

Copyright 2019 WDIO-TV LLC, a Hubbard Broadcasting Company. All rights reserved

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