The rating on Minnesota's GO debt reflects: A deep, steadily growing economy that is diversified among services, trade, and manufacturing; Strong financial management systems with significant financial reserves; and A moderate debt burden with manageable future capital needs. Despite some concentration in the manufacturing sector, Minnesota's economic diversity enables the state to perform well during economic cycles compared with the nation. Employment and income data indicate steady job creation since late 1994 with the Twin Cities area leading the charge. The services sector, particularly business and health care, and the construction sector have performed particularly well. Employment growth in the state is projected at 2% in 1999, which is slightly below the national averages. In 1999, wage growth will also
