America’s hiring boom continued last month as employers added a surprising 528,000 jobs despite raging inflation and rising anxiety about a recession. July’s hiring was up from 398,000 in June. The unemployment rate slipped to 3.5%. The U.S. economy shrank in the first two quarters of 2022.
The Labor Market Information Center has updated North Dakota cost of living data through Q2 2021. Seven fundamental categories are tracked: food, housing, health care, transportation, child care, other necessities, and taxes. The analysis suggest the annual household income to cover basic needs in Grand Forks County stands at $23,477. The statewide average is $24,792.
The average long-term U.S. mortgage rate fell below 5% for the first time in four months this week, just after the Federal Reserve jacked up its main borrowing rate in an aggressive effort to get inflation under control. Mortgage buyer Freddie Mac reports the 30-year rate tumbled to 4.99% from 5.3% last week. A year ago, the rate was 2.77%.
Home sales were steady last month in Grand Forks / East Grand Forks. The Grand Forks Area Association of Realtors reports 83 single family homes and townhomes were sold in July. That’s down from 90 in 2021 and 110 two years ago. The average sales price in July was $294,634.
The North Dakota Mill and Elevator reports 4th quarter profits of $5,016,906. Mill Manager Vance Taylor says that’s compared to $2,065,479 for the same quarter one year ago. For the fiscal year ending June 30th the Grand Forks based mill had a profit of $14.6 million dollars. Sales totaled topped $473 million dollars in FY22.
The company charged with building the channel portion of the FM Area Diversion channel is looking for a few good workers. ASN Constructors says there is an immediate need for dozens of equipment operators…laborers…foreman positions…as well as management roles. At the peak of construction in the coming years upwards of 1,000 employees will be working on the diversion project.
Over 600 Career and Technical Education (CTE) instructors and education administrators from across North Dakota are registered to attend the 51st Annual CTE Professional Development Conference in Bismarck this week. The theme of this year’s conference is “CTE Champion,” calling on the role CTE plays in preparing students for career opportunities in North Dakota’s workforce.
The North Dakota Air National Guard has announced that Chief Master Sgt. Levi Heller was chosen as the new state command chief. Heller succeeds Chief Master Sgt. Duane Kangas, who retired December 2021. In this new role, Heller will advise senior military leaders on matters concerning discipline, morale, welfare, effective utilization, and career progression of the state’s National Guard Airmen.
Dr. Alyssa Martin has been selected as the new director of the North Dakota Center for Distance Education (NDCDE). Dr. Martin formerly served as the director of Policy Services for the North Dakota School Boards Association. She begins her new position on August 22.
Farm and ranch production expenditures for the Plains Region totaled $99.2 billion in 2021, up from $85.3 billion in 2020, according to USDA’s National Agricultural Statistics Service. The Plains Region includes North Dakota, South Dakota, Nebraska, Kansas, Oklahoma, and Texas.
Amazon has announced it has entered into an agreement to acquire the vacuum cleaner maker iRobot for approximately $1.66 billion. The company sells its robots worldwide and is most famous for the circular-shaped Roomba vacuum. Amazon said it will acquire iRobot for $61 per share in an all-cash transaction.
The maker of Banana Boat sunscreen is recalling a scalp spray because it contains trace amounts of benzene, a chemical which can cause cancer with repeated exposure. Edgewell Personal Care Co. says benzene was detected in internal reviews of Banana Boat Hair and Scalp Spray SPF 30. Three batches of the spray are included in the recall, with lot codes 20016AF, 20084BF and 21139AF.
Nintendo’s profit in the April-June quarter rose 28% from a year earlier on healthy demand for its games, although console sales were dented by a shortage of semiconductors. The Japanese video game maker behind the Super Mario and Pokemon franchises said it expects to sell 21 million Switch machines in the fiscal year that ends in March 2023.
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