Business News: Gift Cards..GF Sales Tax & Amtrak

More Americans applied for unemployment benefits but not enough to raise concern about the labor market or broader economy. The Labor Department reported that jobless claims rose to 218,000 for the week ending Dec. 23, an increase of 12,000 from the previous week. Weekly unemployment claims are a proxy for layoffs. (AP)

— — —

Americans were expected to spend nearly $30 billion on gift cards this holiday, according to the National Retail Federation. Most will be redeemed. But many gift cards wind up forgotten or unused. In a July survey, Bankrate found that 47% of U.S. adults had at least one unused gift card worth an average of $187. That’s a total of $23 billion in unspent money. Under federal law, gift cards can’t expire for five years after they’re purchased. (AP)

— — —

The final sales tax check of 2023 netted Grand Forks $2.93 million dollars. That pushes the calendar year collection to $33.3 million dollars – up 6.44%. The local tax exceeded the three-million dollar mark four times during the year. The January check will complete the 2023 budget tally.

— — —

Visit Grand Forks is seeing a little extra jingle this year. The 3% lodging tax on hotel and motel room stays continues to come in ahead of estimates. Final numbers aren’t yet available but the tax will likely exceed the $900,000 dollar budgeted amount by some $200,000 – or more.

— — —

Bismarck was the only one of North Dakota’s three metro areas to post an over-the-year employment loss in November (-500). In Grand Forks prominent employment gains took place in Government (+500) and Retail Trade (+400). Employment reductions occurred in Financial Activities (-100) and Leisure and Hospitality (-100). The Grand Forks County unemployment rate in November was 1.3%.

— — —

Minnesota’s minimum-wage rates will be adjusted for inflation Jan. 1, 2024, to $10.85 an hour for large employers and $8.85 an hour for other state minimum wages. The state minimum-wage rates will not apply to work performed in the cities of Minneapolis and St. Paul, which have higher minimum-wage rates.

— — —

Delta continues to be the top air carrier in North Dakota. The airline hauled 39,368 passengers in November. That’s 41% of the total market share. United was second capturing 26% of the passenger volume followed by Allegiant…American…Frontier…and Sun Country. The average load factor last month was 84%.

— — —

Amtrak hauled more than 28 million customers in FY23. The Empire Builder route that runs between Washington state and Chicago saw a 15% jump in passenger numbers. The train makes seven stops in North Dakota including Grand Forks.

— — —

North Dakota Dollars for Scholars is accepting scholarship applications from North Dakota high school seniors and current college students. Approximately $220,000 in scholarships will be awarded, ranging from $600 to $2,500 each for the 2024-25 academic year. The application deadline is April 1st.

— — —

BlendJet is recalling about 4.8 million of its portable blenders over laceration and fire hazards after receiving dozens of injury reports. According to a notice from the U.S. Consumer Product Safety Commission, the now-recalled BlendJet 2 Portable Blenders can overheat or catch fire. And their blender blades can also break off during use. (AP)

— — —

If you are an Amazon Prime Video user, get ready to see ads on movies and TV shows starting next month. The company has sent an email to U.S. members that Prime will include ads for subscribers beginning on Jan. 29. Prime members who want to keep their movies and TV shows ad-free will have to pay an additional $2.99 per month. (AP)