Business News: ND unemployment…GF tax & USPS

The nation’s economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. The latest figures mark the sixth straight quarter in which GDP has grown at an annual pace of 2% or more. Consumers drove the fourth-quarter growth. (AP)

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North Dakota’s jobless rate increased slightly last month to 1.7%. The December figure compares to 1.3% in November and an even 2% one-year ago. Despite the low figure a total of 7,131 North Dakotans were in search of work last month. North Dakota typically sees a moderate increase in unemployment numbers between November and December due to seasonal factors.

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Minnesota’s Construction sector is outperforming the national construction sector: it gained 10,792 jobs, up 8.8% compared to 3.0% growth nationally. DEED’s Labor Market Information Director Angelina Nguyễn says the strongest growth in Minnesota continues to be in Heavy and Civil Engineering Construction – up 33.1% over the year.

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Grand Forks sales tax collections hit $1.99 million dollars in the January payment. The number reflects sales that took place in November. It was the smallest January check in the last five years. On a rolling twelve month basis the local tax is up 2.55%. The ¼% restaurant lodging component of the tax finished the budget year up 10.66%.
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The ND Industrial Commission has approved $21.8 million dollars in matching grants under the Clean Sustainable Energy Program. Among the eight approved grants was a $3.3 million award to the EERC and Marathon Petroleum to support expansion of sustainable aviation Fuels. Dakota Lithium picked up $2 million to produce low-carbon lithium-ion batteries in Grand Forks.

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The 17 year old UND Wellness Center is adding some new high tech features for exercise fans. Students who choose to use stair climbers and treadmills will now be able to wirelessly charge their phones during a workout. The upgrades will also allow students to cast images and movies from phones onto a 16 inch display mounted on the treadmill. Bluetooth capabilities will be available later this year.

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Despite North Dakota’s sometimes extreme weather the state’s eight commercial airports only experienced an airline flight cancellation rate of 1.7% in 2023. Numbers compiled by the North Dakota Aeronautics Commission suggests of the nearly 17,500 flights involving the state’s eight commercial airports there were less than 300 cancellations. The average load factor last year was 84%.

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The Alliance for Automotive Innovation has released 3rd quarter data on the U.S. Electric Vehicle market. The market share of new EV sales in North Dakota was 1.5 percent in Q3 2023 – up from 1.1 percent in Q2 2023 and 1.2 percent in Q3 2022. There are 1,380 EVs on the road in North Dakota and 197 publicly available charging outlets. Nationally, there are 4 million EVs on the road.

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Ford is recalling nearly 1.9 million Explorer SUVs in the U.S. because a trim piece can fly off and create a hazard for other drivers. The recall covers Explorers from the 2011 through 2019 model years. Dealers will inspect the trim pieces to make sure the clips are engaged and add adhesive to hold them in place. Owners will be notified starting March 13. (AP)

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The Minnesota Department of Employment and Economic Development (DEED) has named Jeanna Fortney as its next CareerForce Director. Fortney earned a bachelor’s degree in sociology from American University and a master’s degree in social work from George Mason University.

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The maker of Robitussin is recalling several lots of cough syrup due to contamination that could pose a serious risk to people with weakened immune systems. The recall affects eight lots of Robitussin cough syrup for adults containing honey. The company says the products may contain dangerously high levels of yeast. Yeast is a natural component of honey, but the levels detected by the company were beyond allowed measurements. (AP)

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The U.S. Postal Service has unveiled the Lunar New Year: Year of the Dragon Forever stamp. The Postal Service printed 22 million stamps that are now on sale at Post Offices and usps.com. On February 10, 2024, millions of people around the world will celebrate the Lunar New Year holiday. The Year of the Dragon ends on January 28, 2025.
(Pictured: USPS)