Applications for U.S. unemployment benefits fell to their lowest level in eight months last week as businesses continue to retain workers. The Labor Department reports that jobless claim applications fell by 13,000 to 198,000. That’s the fewest since January.
North Dakota’s September not seasonally adjusted unemployment rate was 1.3 percent. The unemployment rate declined 0.2 of a percentage point from August. A total of 5,636 people were in search of work during the month. The national not seasonally adjusted unemployment rate for September was 3.6 percent.
Minnesota gained 8,000 jobs in September and the labor force grew for the seventh month in a row, adding more than 1,500 workers, according to data released by the Minnesota Department of Employment and Economic Development. Minnesota’s unemployment rate remained at 3.1% in September and the labor force participation rate held steady for the third month at 68.5%. Minnesota has added jobs nine out of the last 12 months.
Sales of previously occupied U.S. homes fell for the fourth month in a row in September, held back by surging mortgage rates and a thin supply of properties on the market. Existing home sales fell 2% last month from August to a seasonally adjusted annual rate of 3.96 million
Commercial airline traffic in North Dakota continues to take off. Boarding numbers for Sep-tember reached 91,270 passengers – an 8% increase over one year ago. Seven of the eight commercial service airports reported over the year growth. Fargo’s Hector International Air-port achieved a new monthly record with 41,452 passengers. A total of 6,230 people passed through the turnstyles at the Grand Forks Airport. Boardings in 2023 at the GFK are up better than 9%.
LM Wind Power is expanding its footprint in Grand Forks. The company has secured a building permit from the city for a 10,075 square foot addition to its plant at 1580 South 48th Street. The dollar amount attached to the permit is $3.7 million dollars. A GE spokesperson says the company is expanding the site and recruiting more talent to produce the growing number of wind turbine blades needed by our customers.
The Grand Forks JDA has approved remodeling the second floor of the former Herald Building at a cost of $874,704 dollars. The project has been expanded to create five suites which can be leased separately. The downtown building has been transformed into a tech accelerator site targeting UAS early-stage businesses. The substantial completion of the project is scheduled for April.
North Dakota Career and Technical Education has unveiled a new logo. The abstract person on the logo embodies the students and workforce of all who work with NDCTE to inspire collaboration between education and industry. The star in the design symbolizes the guidance and direction for educators, students, employers, and communities.
Ford is recalling more than 238,000 Explorers in the U.S. because a rear axle bolt can fail, potentially causing a loss of drive power or allowing the SUVs to roll away while in park. Owners will be notified starting Nov. 6.
Best Buy is saying goodbye to movie-watching with physical discs. The Minnesota-based consumer electronics retailer plans to phase out its DVD and Blu-ray sales by early 2024 — with physical movies set to be sold in-stores and online as they are today through the holidays. Video games will not be impacted.
Netflix has disclosed summertime subscriber gains that surpassed analysts’ projections, signaling the video streaming service’s crackdown on password sharing is converting former free-loaders into paying customers. In an effort to bring in even more revenue, Netflix also announced it’s raising the price for its most expensive streaming service by $2 — a 10% increase.
Film and TV actors are still on strike in what has become the longest walk-off in their history. The talks abruptly ended Oct. 11 when studios walked away from the negotiating table saying the two sides were too far apart to go on. The prolonged strike means films and TV shows will remain sidelined indefinitely, and it’s already starting to affect the upcoming awards season.
FOLLOW US FOR INSTANT UPDATES!
