America’s employers slowed their hiring in September but still added a solid 263,000 jobs. The report showed that last month’s job growth was down from 315,000 in August and that the unemployment rate fell to 3.5%. Slower job growth would mean less pressure on employers to raise pay and pass those costs on to their customers.
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 18,380 open and available online job openings in September 2022, a change of +0.5 percent (+100) from the prior month and +4.6 percent (+816) from the same month one year ago.
Average long-term U.S. mortgage rates ticked down modestly this week after six straight weeks of gains pushed rates to heights not seen in more than a decade, before a crash in the housing market triggered the Great Recession in 2008. Mortgage buyer Freddie Mac says the average on the key 30-year rate dipped to 6.66% from 6.70% last week. One year ago, the rate was 2.99%.
September was a busy month for home sales in Grand Forks / East Grand Forks. According to the Grand Forks Area Association of Realtors a total of 97 homes and townhomes were sold last month – ties with May for the second highest monthly total. It compares to 87 homes sold in September 2021 and 82 two-years ago. The average sales price was $256,250 dollars. The figure does not include private sales.
A new housing study suggests North Dakota’s focus needs to shift from building as fast as possible to addressing the age of its housing stock, limited housing options and affordability barriers. The analysis by NDSU’s Center for Social Research was prepared for the North Dakota Housing Finance Agency. Barring any major shifts in the economy the assessment projects the state’s population will increase by 1.3% or about 10,000 people by 2025. Based on this estimate, the state would need to add an additional 9,285 housing units by 2025.
Northern Plains Potato Growers Association (NPPGA) has announced a name change and will now be doing business as Northland Potato Growers Association. The organization represents Red River Valley potato growers who raise over 80,000 acres of process (fry), chip, fresh and seed potatoes in ND and MN. The name Northland was identified as a more descriptive name to define the geography the organization represents.
Another digital billboard will soon go up along a major corridor in Grand Forks. The Planning and Zoning Commission has approved the request by Newman Signs for the site at 1401 South Washington. The P & Z agreed to the request after the company agreed to move the sign closer to the former Valley Dairy store building. The sign will include a cap concealer to improve aesthetics and help block light for nearby residential homes.
Amazon will hire 150,000 full-time, part-time and seasonal employees across its warehouses ahead of the holiday season. The announcement shows the e-commerce behemoth is taking a less conservative approach to its holiday planning than Walmart. Walmart said last month it would hire 40,000 U.S. workers for the holidays, compared to 150,000 in 2021.
During its first year of operation Fargo’s Amazon Center has shipped out over 2.3 million items. Over 600 workers are employed at the facility. The building is the largest in North Dakota covering 1.2 million square feet.
October is Manufacturing Month in Minnesota. Manufacturing accounted for $56 billion (or 14%) of the state’s gross domestic product and provided more than 310,000 jobs in 2021. Workers took home $23.4 billion in wages from Minnesota manufacturing jobs in 2021. Minnesota added almost 15,000 manufacturing jobs over the year. Minnesota is anticipating 75,000 job openings for manufacturing production positions alone through 2030.
Tyson Foods is moving around 1,000 corporate positions from Illinois and South Dakota to its headquarters in Springdale, Arkansas. The company, which is one of the world’s largest meat producers, says corporate staff at its Chicago and Downers Grove, Illinois, locations and Dakota Dunes, South Dakota, office will start relocating early next year. No layoffs are planned.
“Best before” labels are coming under scrutiny as concerns about food waste grow around the world. Manufacturers have used the labels for decades to estimate peak freshness. But “best before” labels have nothing to do with safety, and some worry they encourage consumers to throw away food that’s perfectly fine to eat. The European Union is expected to announce a revamp to its labeling laws by the end of this year. In the U.S., there’s no similar push to scrap “best before” labels. But there is growing momentum to standardize the language on date labels.
Want to buy a bridge? Highway officials in Polk County and Traill County may have a deal for you. An historic bridge with a failed deck is in need of a new home. The steel truss bridge that is 26 feet wide must be moved to make way for a new Red River crossing linking 1 & 17. Bridge #5767 dates back to 1939 and sports two 177 foot Parker High trusses. The asking price is $1. The new owner would have to pay all relocation fees.
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