The housing market’s comedown from its high-flying days early this year is deepening, with home sales in July falling for the sixth straight month. Sharply higher mortgage rates, surging inflation and prices that remain near all-time highs are making homes less affordable. The National Association of Realtors said Thursday that sales fell 20.2% from July last year, reaching the slowest pace since May 2020.
Slightly fewer Americans filed for unemployment benefits last week as the labor market continues to be the strongest segment of the U.S. economy. Applications for jobless aid for the week ending August 13 fell by 2,000 to 250,000. Unemployment applications generally reflect layoffs and are often seen as an early indicator of where the job market is headed.
The Labor Market Information Center has released the latest Online Job Openings Report (OJOR). North Dakota had a total of 17,643 open and available online jobs in July 2022 – down -2.6 percent (-470) from the prior month.
North Dakota’s jobless rate slipped to 2.2% in July. That was a 0.4% decline from June. According to North Dakota Job Service the state ranks 6th among all states unemployment rates.
Minnesota’s unemployment rate held steady at 1.8% last month– tying the record low since the metric has been tracked in 1976. On a seasonally adjusted basis Minnesota gained 19,100 jobs last month. DEED Commissioner Steve Grove says “Despite a very tight labor market, employers are hiring at a fast rate.”
Car rental costs are up nearly 50% since 2019, compared to just a 7% increase in hotel prices and a 16% increase in flight prices over the same period. High demand, a global semiconductor shortage and labor industry shortages contributed to the low supply of rental cars. Prices have actually dropped slightly since the high in July 2021, but they’re still far above pre-pandemic pricing.
With passage of an electric scooter ordinance the devices have already stated to show up around Grand Forks. First time users of the “Birds” have to download the company’s mobile-phone app. Scanning the QR code on the scooter will finalize the rental. Rides will cost $1 to start up and 39 cents per minute afterward.
Grand Forks has announced that Paul Houdek will retire this fall. Houdek was appointed as city assessor in 2015. He first joined Grand Forks as a deputy assessor in 2006.
North Dakota Office of Management and Budget Director Joe Morrissette was recognized by the American Institute of Certified Public Accountants with the 2022 Outstanding CPA in Government Impact Award at the state level. Two recipients receive government impact awards each year: ne recognizing a CPA in state government and one in local government.
Eric Ripley, executive director of career and technical education and technology, has been selected to receive the Outstanding Direct Support Provider of the Year award from the North Dakota Association for Career and Technical Special Needs Education Association. The award was presented to Ripley at the North Dakota Department of CTE Professional Development Conference in Bismarck.
Three UND Aerospace programs have been reaccredited by the Aviation Accreditation Board International. Accreditation through AABI runs in five-year intervals, meaning the reaffirmed UND Aerospace programs are accredited through July 2027. The Aviation Accreditation Board International is made up of trustees in both higher education and the aviation industry, as well as trade association and international trustees.
The pace of sales at U.S. retailers was unchanged last month as persistently high inflation and rising interest rates forced many households to spend more cautiously. Retail purchases were flat in July after having risen 0.8% in June. Consumer spending has weakened, and it has shifted increasingly toward necessities like groceries and away from discretionary items like home goods, casual clothes and electronics.
The head of the nation’s largest railroad union says recommendations designed to help resolve stalled contract talks with freight railroads may not satisfy workers. Union leadership says that’s because the recommendations don’t do enough to address concerns about working conditions, even though they suggest 24% raises.
Apple has disclosed serious security vulnerabilities for iPhones, iPads and Macs. The software flaws could potentially allow attackers to take complete control of these devices. The company said in a security statement that it is “aware of a report that this issue may have been actively exploited.” Security experts have advised users to update affected devices — the iPhone6S and later models, newer iPads and Mac computers running MacOS Monterey.
General Motors is recalling more than 484,000 large SUVs in the U.S. to fix a problem that can cause the third-row seat belts to malfunction. The recall covers Chevrolet Suburbans and Tahoes, Cadillac Escalades and GMC Yukons from 2021 and 2022. Owners will be notified starting Sept. 26.
Kraft Heinz is recalling thousands of pouches of Capri Sun in the U.S. after some cleaning solution accidentally mixed with the juice on a production line. The company says it’s recalling about 5,760 cases of Capri Sun Wild Cherry flavored juice blend. The “Best When Used By” date on the packages is June 25, 2023. The company says it discovered the problem after getting consumer complaints about the juice’s taste.
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