Hiring surged in July as American employers added 943,000 jobs. The unemployment rate dropped to 5.4% as the U.S. economy continues to bounce back with surprising vigor from last year’s coronavirus shutdown. The July numbers exceeded economists’ forecast for more than 860,000 new jobs. Hotels and restaurants, reopening and doing brisk business, added 327,000 jobs last month.
In Q1 (Jan-Mar) 2021, North Dakota’s total employment decreased 6.8 percent on a year-over-year basis to 386,037, a loss of 28,384 jobs. Of the 20 major industry categories, 19 reported employment decreases over the year. The largest employment decreases occurred in Mining, Quarrying, and Oil and Gas Extraction (-7,553), Accommodation and Food Services (-4,070), and Construction (-3,217). Average weekly wages were lower by 0.9 percent from the same quarter one year ago.
Things are looking up for owners of big apartment communities more than a year after the pandemic knocked the economy into a recession and left millions of Americans unemployed. Rents are rising amid strong demand as U.S. home prices push ever higher. At least one measure of rent collections shows fewer tenants are failing to make timely rent payments, and while vacancies haven’t fallen back to pre-pandemic levels, they’re in line with the 10-year average.
Mortgage rates were flat to lower this week, with the average for the key 30-year home loan below 3% for the sixth straight week. Uncertainty over the surging delta coronavirus variant and its potential effect on the U.S. economic recovery remained as a backdrop suppressing mortgage rates. Mortgage buyer Freddie Mac reports that the average for the 30-year mortgage fell to 2.77% from 2.80% last week.
Home sales in Grand Forks / East Grand Forks slipped slightly in July. A total of 90 single family…townhome…and condos exchanged hands last month. That compares to 110 for the same month one year ago. The average sales price was $297,052.
Construction is underway on the fit-up of a daycare/pre-school operation near the Grand Cities Mall. The city of Grand Forks has issued a building permit to the tune of $898,796 dollars for the 16,000 square foot center. When completed the Hopeful Beginnings Daycare will serve as many as 250 kids. The Grand Forks P & Z approved a replat of the site this past week.
The North Dakota Department of Human Services has selected Kay Larson to lead the department’s newEarly Childhood Division, which was created in July 2021 to align and focus programs and resources on a key department priority: early childhood experiences. Most recently, Larson was the team lead for Child Care Aware of North Dakota from 2016 to 2021 for DHS and Lutheran Social Services of North Dakota.
If all goes well the Circle of Friends Humane Society hopes to complete work on its new surgical suite by October. Construction on the surgical room began this past week. A building permit filed with the Grand Forks Inspections Department suggests the fit-up will cost around $566,280 dollars. The site is located at 4375 North Washington.
With a new school year on the horizon, parents and caregivers are reminded to save receipts on school supply purchases in order to claim valuable K-12 tax benefits when filing their taxes next year. Last year, more than 33,000 Minnesota families received the K-12 Education Credit and saved an average of $250. Nearly 190,000 families received the K-12 Education Subtraction.
The North Dakota University System has appointed David Krebsbach as interim vice chancellor for administrative affairs and chief financial officer. Krebsbach will take on responsibilities as the system’s interim vice chancellor for administrative affairs and chief financial officer as of Aug 16, 2021. Krebsbach has worked for the NDUS since August 2016. In his current role, he is responsible for all budget related and fiscal matters of the system office. Prior to his work at the NDUS, he was a finance manager for Job Service of North Dakota for eight years. He also has experience working as a comptroller and as a senior accountant. Krebsbach obtained a Bachelor of Business Administration degree in Accounting from the University of North Dakota, Grand Forks, ND, and is a Certified public accountant.
John Paczkowski will has been named the Interim State Engineer for the Department of Water Resources until the position is filled. Governor Burgum appointed Paczkowski as Interim State Engineer for the State Water Commission in April 2020. Paczkowski is a long-standing employee with the agency and has served the state since 1991 in various facets including, Assistant State Engineer, Director of the Regulatory Division, and Project Manager for the Appropriation Division.
The Consumer Product Safety Commission says about 2 million dehumidifiers made by New Widetech are being recalled in the U.S. because they can overheat and catch fire, posing fire and burn hazards. New Widetech is aware of 107 incidents of the recalled dehumidifiers overheating and/or catching fire, resulting in about $17 million in property damage. No injuries have been reported.
FOLLOW US FOR INSTANT UPDATES!
