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DEED commissioner: Unemployment will stay high, but it’s a good time to start a business

The state’s unemployment figures probably won’t improve until 2010, Dan McElroy, commissioner of the Minnesota Department of Employment and Economic Development, told Winona business people Wednesday.

But on the bright side, he told them that this is a great time to start a business, according to the Winona Daily News.

McElroy said that a study shows that more than half of the companies on the 2009 Fortune 500 list were started during a recession or bear market.

The paper said that others DEED officials — who are on an eight-city state tour to talk with businesses and local officials — talked with the Winona group about other ways to weather the recession, including cutting costs and serving the growing demand for earth-conscious products.

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