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Economy

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For Obama Backers, Still Hope For Advancing Agenda

Ardent Minnesota supporters of President Barack Obama say they share his frustrations that the economy hasn't taken flight as fast as hoped. But some who turned out for the Democrat's economic policy speech on the shores of Lake Harriet say it's not for lack of effort on the president's part. Non-profit executive Norm Munk was among those quick to defend Obama. Munk says he worries that a polarized Washington is stunting the nation's progress.

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Cold Snap Has Chilling Impact On Economy

It's a busy Friday afternoon at Parc Boutique in northeast Minneapolis. Racks full of women's fashions greet the customers. But Parc's owner, Thao Nguyen, says the recent cold snap has hurt her in-store sales. "It's harder for people to come into the shop," Nguyen said. Just like how tornadoes and hurricanes disrupt economic activity, there is also a steep cost to our cold weather. The lower the temperature drops, the fewer of us venture outside to shop, dine and recreate.

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Minn. Launches New Job Creation Program

Businesses looking to expand their operations and hire new employees in Minnesota may not qualify for help from a new job creation fund. The program was announced Friday by Gov. Mark Dayton and Katie Clark Sieben, commissioner of the Department of Employment and Economic Development. "The $24 million Job Creation Fund is now open for business," Katie Clark Sieben said. She says the "pay for performance" business development initiative will help create 5,000 jobs, and another $450 million of private investment into the economy.

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Final Holiday Shopping Weekend Attracts Bargain Hunters, Procrastinators

With weather not posing a problem, shoppers flocked to their neighborhood malls and stores on Saturday to finish or, in many cases, begin their holiday shopping. According to retail analysts, Saturday is expected to be the busiest shopping day in the shortened season. And with just three days remaining until Christmas Day, many are finding deep discounts as retailers try to trim inventories. And it's not just people getting presents under the tree. Leah Goldade of Lulu and Luigi's Pet Boutique says business is brisk.

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