Business News: GFK…ND jobs & homelessness

Wholesale prices in the United States rose 6.2% in December from a year earlier, a sixth straight monthly slowdown and a hopeful sign that inflation pressures will continue to cool. The latest year-over-year figure was down from 7.3% in November and from a recent peak of 11.7% in March.

The number of people seeking unemployment benefits in the U.S. reached a four-month low last week, a sign that employers are holding on to their workers despite the Federal Reserve’s efforts to slow the economy and tamp down inflation. The Labor Department reports that the number of Americans applying for jobless aid for the week ending Jan. 14 fell by 15,000 to 190,000, from 205,000 the week before.

The Labor Market Information Center has released the latest Online Job Openings Report from Job Service North Dakota’s labor exchange system.  North Dakota had a total of 16,133 open and available online job openings in December 2022, a change of +0.8 percent (+132) from the prior month and -5.5 percent (-940) from the same month one year ago.  In Grand Forks County the largest employment gap lists:  healthcare….transportation…sales…and educational instruction.

An annual Manufacturing Business Conditions Survey conducted by the Minnesota Department of Employment and Economic Development (DEED) and the Federal Reserve Bank of Minneapolis found that most Minnesota manufacturers expect mostly unchanged conditions in 2023.  60% of respondents expecting wages to increase between 3-5%, while close to 40% anticipate a rise in benefits in the same amount.   Survey results show that, compared to 2021, most manufacturers showed improved or unchanged conditions in 2022.

The North Dakota Homeless Continuum of Care will conduct a Point-In Time count of homelessness on January 25th.The U.S. Department of Housing and Urban Development requires the count on an annual basis.  The most recent report counted 610 homeless people in North Dakota — up 11.3%.   In Minnesota the number topped 79-hundred.

Passenger traffic through the Grand Forks Airport posted its best showing in three years in 2022.  The GFK posted a total of 87,491 passenger boardings last year – up 31% compared to 2021.  That was the second largest percentage increase among the eight commercial airports in North Dakota behind only the 42% bump in Williston.  The growing aviation workforce includes openings for pilots, aircraft mechanics, and unmanned aircraft operators.

The North Dakota Department of Commerce has doled out a $145,000 dollar loan to Uncle Charlie’s Gourmet Snacks.  The Fargo-based company is looking to expand its production capacity. The funds will be used to purchase inventory, equipment, and for working capital.

North Dakota Health and Human Services (HHS) has launched a new online licensing system for child care providers. The modern, online system replaces a manual paper process.  In addition, the system adds transparency. Both providers and the public can view licensing status information, including licensing checklists and correction orders, on the portal.

Google says it’s laying off 12,000 workers, becoming the latest tech company to trim staff as the economic boom that the industry rode during the COVID-19 pandemic ebbs.  Microsoft recently announced 10,000 job cuts, or nearly 5% of its workforce. Amazon said this month its cutting 18,000 jobs.

The Agriculture Department issued new requirements for foods labeled organic, a move aimed at cracking down on fraud and boosting oversight. The rule strengthens enforcement of the USDA’s strict definitions of organic, which requires these foods to be made with natural substances and biologically based farming methods. The new rule takes effect in March and companies will have a year to comply with the requirements.