U.S. employers added a robust 379,000 jobs last month, the most since October and a sign that the economy is strengthening as confirmed viral cases drop, consumers spend more and states and cities ease business restrictions. The February gain marked a pickup from the 166,000 jobs added in January and a loss of 306,000 in December.
Federal Reserve Chair Jerome Powell says inflation will likely pick up in the coming months but the increase will be temporary, and won’t be enough for the Fed to alter its low-interest rate policies. Powell also said today that the outlook for the economy has improved, after three months of weak job gains, but warned that the economy and job market are still far from fully recovered.
A new monthly survey shows continued economic improvement in nine Midwest and Plains states, but business leaders expressed concerns about rising inflation and bottlenecks in the supply chain causing delays. The Creighton University Mid-America Business Conditions for February came in at a strong 69.6 from January’s 67.3. The monthly survey covers nine states including the Dakota’s and Minnesota.
The Labor Market Information Center has released the latest Online Job Openings Report (OJOR), a monthly summary of online job openings and active résumés from Job Service North Dakota’s labor exchange system. North Dakota had a total of 15,237 open and available online job openings in February 2021, a change of +15.2 percent (+2,009) from the prior month and -4.1 percent (-649) from the same month one year ago.
Target extended its strong sales streak through the holiday quarter and grabbed business from rivals. The Minnesota-based retailer says soared 66%, while sales jumped 21% for its fiscal fourth quarter. The results handily beat Wall Street estimates. Sales at stores opened at least a year rose 6.9% compared with a year ago. Online sales were up 118%. Customer traffic rose 3.7% and average dollars spent rose 15%.
The North Dakota Department of Commerce today announced that eight communities were selected to receive funding for round two of the Main Street Initiative (MSI) Partners in Planning (PiP) Grant with more than $122,000 to be awarded. The MSI PiP Grant program supports nonprofit organizations and local governments with an economic development/diversification strategic plan. The Grand Forks share was $15,600.
Bank of North Dakota (BND) and North Dakota Housing Finance Agency(NDHFA) are taking the first steps toward consolidating the roles they play as state agencies in financing residential real estate. BND’s residential portfolio was just over $535 million on December 31, 2020, compared to NDHFA’s portfolio of $1.4 billion. Both agencies are overseen by the North Dakota Industrial Commission.
North Dakota’s five lignite coal mines produced 26.4 million tons of lignite coal in 2020, representing a 3 percent drop from the 27.2 million tons mined in 2019. The reduction was largely the result of reduced economic activity due to the COVID-19 pandemic as well as competition from subsidized wind generation. North Dakota’s seven lignite-based power plants generate enough electricity to serve more than 2 million families in North Dakota and surrounding states.
The North Dakota Public Service Commission (PSC) today reported that the agency received more than 800 consumer contacts in 2020. These contacts include informal complaints against regulated entities, public input submitted as part of an open case, referrals to other agencies and/or requests for information. Of the 804 contacts, 64 (8%) were informal complaints against public utility companies regulated by the Commission. Informal complaint numbers overall were lower for 2020. The most frequent reasons for complaints are billing issues, disconnects and phone outages.
The Grand Forks P & Z gave preliminary approval to the idea of issuing a Conditional Use Permit to allow large animal clinics in a business zone. A large animal would be considered to be a horse or cow. The commission raised concerns about overnight stays of animals in the city. The issue was raised in a request from All Pets Hospital on Gateway Drive. The issue will further discussed at a future meeting.
Williston State is inching closer to naming a new president. Twenty-nine candidates met qualifications and were forwarded to the Presidential Search Committee for their initial review. After thorough discussion and analysis, 11 candidates were identified and have been offered an opportunity for a virtual interview March 15-16. The new WSC president will succeed Dr. John Miller, who is scheduled to retire June 2021.
Volvo announced this week it will make only electric vehicles by 2030. But if you want one, you’ll have to buy it online. The Swedish automaker says it is phasing out the production of all cars with internal combustion engines – including hybrids.
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