The U.S. economy grew at a solid 6.4% rate in the first three months of this year, setting the stage for what economists are forecasting could be the strongest year for the economy in possibly seven decades. The Commerce Department said Thursday that growth in the gross domestic product, the country’s total output of goods and services, was unchanged from two previous estimates.
Consumer spending was flat in May while incomes dropped for a second month as the impact of the government’s individual impact payments waned. Inflation, however, posted a sizable gain of 0.4%. The Commerce Department reported that consumer spending was unchanged in May, a marked slowdown following gains of 0.9% in April and a 5% surge in March that had been fueled by distribution of payments of up to $1,400 per individual from a $1.9 trillion stimulus bill.
North Dakota’s unemployment rate in May was 3.5 percent. The not seasonally adjusted rate fell 0.6 of a percentage point between April and May. The jobless rate last month compares to 8.4% one year ago. A total of 14,191 North Dakotans were in search of a job last month. The nation’s seasonally adjusted unemployment rate was 5.8 percent for the month.
Grand Forks sales tax collections fell just shy of $1.75 million dollars in June. Although it was the smallest check so far in 2021 it is some $448 thousand dollars higher than the same month one year ago. With six months in the books the local tax has generated over $13 million dollars this year. That’s up 5.86% over the 2020 tally.
FedEx reported a nearly $2 billion profit in its most recent quarter, after reporting a loss the year before, helped by a surge in online shopping and the growth of its business-to-business shipping services. Package delivery companies like FedEx have been in high demand during the pandemic, as more people stayed home and shopped online.
Oil pumped from Native American lands in the U.S. increased almost tenfold since 2009 to more than 130 million barrels annually, bringing new wealth to a handful of tribes. Other tribes left out of the drilling boom have become increasingly outspoken against fossil fuels as climate change’s impacts grow worse. With huge reserves of fossil fuels on tribal lands still untapped, the Biden administration faces competing pressures to help develop them even as it seeks to curb emissions.
For the fifth straight month, Minnesota gained jobs. Minnesota added 12,300 jobs in May, up 0.4% on a seasonally adjusted basis with the private sector up 14,800 jobs or 0.6%. Job growth was strongest in industries, like Leisure & Hospitality. From April to May, average hourly earnings for all private sector workers rose 13 cents to $32.56. Over the year average hourly earnings rose 73 cents, up 2.3%.
Habitat for Humanity employees say the past year has felt like one punch after the other. They received the first hit when they had to limit volunteers over virus concerns. The spike in construction costs, prominently lumber, in the past year has brought on additional expenses. Some are increasing fundraising and using alternative construction materials, while others are passing on some costs to homebuyers.
Grand Forks Public Schools is requesting feedback on allocating Elementary and Secondary School Emergency Relief (ESSER) II and III funds. Grand Forks Public Schools will receive approximately $26.7 million, and the expectations from the state of North Dakota are that school systems should focus on student learning and achievement. In addition 20% must address learning loss and mental health. The online survey is available at https://forms.gle/yN2LjySDEE1kd2vC7.
The North Dakota Department of Commerce says two companies will share a total of $847,000 in loan and venture funds through the North Dakota Development Fund during the second quarter of 2021. Kiddie Klubhouse, a childcare provider in Park River, received a $97,000 loan to purchase a location for a childcare center. FarmQA Inc. in Fargo was approved $750,000 in venture debt for working capital to continue product development.
Carnival Corp. continues to lose billions while it waits for cruising to recover from the pandemic. Carnival says that it lost $2.1 billion in its latest quarter. Carnival hopes to have about half its worldwide fleet sailing by the end of November and perhaps the rest of the fleet by next spring.
The Grand Forks council has approved another six month letter of intent with Northern Plains Nitrogen. The company is still looking to secure needed investors for the $1.5 billion dollar plant that would tap water from the city’s sewage lagoons to make fertilizer. Project plans were first announced in 2013. The current extension runs through the end of the year.
Stephanie Amiotte has joined the ACLU as the new legal director for the North Dakota, South Dakota and Wyoming chapter. Amiotte comes to the ACLU with more than two decades of litigation experience in both civil lawsuits and federal indigent criminal defense with an emphasis on constitutional law. She is an enrolled member of the Oglala Sioux Tribe and a graduate of the University of South Dakota and the University of South Dakota School of Law.
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