U.S. producer prices soared 11% in April from a year earlier, a hefty gain that indicates high inflation will remain a burden for consumers and businesses in the months ahead. The Labor Department said Thursday that its producer price index — which measures inflation before it reaches consumers — climbed 0.5% in April from March. That is a slowdown from the previous month, when it jumped 1.6%.
Federal Reserve Chair Jerome Powell for the first time has acknowledged that high inflation and economic weakness overseas could thwart his efforts to avoid a recession. Previously, Powell has sought to portray the Fed’s efforts to tighten interest rates as consistent with a so-called “soft landing” for the economy.
The number of Americans applying for jobless aid ticked up slightly last week but the total number of Americans collecting benefits remained at its lowest level in more than five decades. Applications for unemployment benefits rose by 1,000 to 203,000 for the week ending May 7.
One hundred employers representing a variety of different industries will be online to meet prospective employees from North Dakota and across the United States at the Statewide Virtual Multi-Industry Job Fair sponsored by Job Service North Dakota. This is the first time Job Service North Dakota has held a statewide job fair. The latest Online Job Openings Report, published May 4, 2022, says there are 19,574 online job postings statewide. May 19, 2022, 11 a.m. to 2 p.m., CT
Average long-term U.S. mortgage rates edged up again this week, with interest on the key 30-year loan at its highest level since 2009. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked up to 5.3% from 5.27% last week. By contrast, the average rate stood at 2.94% a year ago.
The Grand Forks Area Association of Realtors has tallied up home sales for April. The figures suggest 69 single family homes…townhomes…and condos exchanged hands last month in Grand Forks / East Grand Forks. That’s down from 90 in April 2021 but up from 54 in 2020. The average sales price was $299,364.
The Labor Market Information Center has calculated and compiled North Dakota cost of living data for 24 household types and various geographic areas down to the county level. Seven fundamental living expense categories are tracked: food, housing, health care, transportation, child care, other necessities, and taxes. The North Dakota average is $23,885 for a single adult. By comparison Grand Forks County sites at $22,637…Cass County $23,239…and Burleigh at $24,377.
The U.S. Economic Development Administration (EDA) awarded $1 million to the North Dakota Department of Commerce through the EDA’s Statewide Planning program. The EDA grant is to enhance the statewide attraction of businesses, promotion of economic activity, and retention and attraction of workforce. Commerce will begin soliciting grant applications from North Dakota communities this summer.
The City of Grand Forks has issued the necessary building permit to raise the former Holiday Inn hotel at 1210 North 43rd Street. There was no dollar amount attached to the permit request. The site is slated to be the home for the proposed Career Impact Academy.
A new building permit has also been issued for a Discount Tire store at 2751 32nd Avenue South. The site was recently razed for the new construction pegged at $2.6 million dollars.
Nissan is considering adding a new auto plant in the U.S. to keep up with growing demand for electric vehicles. Chief Operating Officer Ashwani Gupta told reporters Friday that the third plant would not just be an added assembly line but a totally new facility, although it may be built as an extension of an existing plant.
Altru has been recognized on Newsweek’s list of Best Maternity Hospitals 2022. Newsweek and Statista invited over 10,000 medical professionals to participate in the survey. Only 350 winners were recognized on the Best Maternity Hospitals 2022 list.
Americans have bet more than $125 billion on sports with legal gambling outlets in the four years since a U.S. Supreme Court ruling cleared the way for all 50 states to offer it. Around two-thirds of the states in the country have legalized sports betting.
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