The 'AAA' rating on Minnesota's GO bonds reflects the state's: Deep economy, which is diversified among services, trade, and manufacturing; Strong financial management systems, with remaining financial reserves despite large draws to balance shortfalls; and Moderate debt burden with manageable future capital needs. Despite some concentration in the manufacturing sector, Minnesota's economic diversity, compared to the nation's, enables the state to perform well during economic downturns. Employment and income data grew steadily through the 1990s, fueled by steady population growth. Although the state has also experienced an economic downturn, it was late in feeling the effects relative to the nation, and its unemployment rate remains fairly low at 4.5%. The state's strong economy since the mid 1990s resulted in strong
