Business News: ND unemployment…daycare & UND search

Wholesale prices in the United States accelerated again in February, the latest sign that inflation pressures in the economy remain elevated.  The government’s producer price index — which tracks inflation before it reaches consumers — rose 0.6% from January to February, up from a 0.3% rise the previous month.  The Fed meets this week and is counting on cooling inflation as it considers when to cut its benchmark interest rate, now at a 23-year high.   (AP)

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American shoppers picked up their spending a bit in February after pulling back the previous month. But last month’s gain was weaker than expected, and January’s decline was revised even lower, suggesting that consumers are becoming more cautious.  Retail sales rose 0.6% last month after falling a revised 1.1% in January.   (AP)

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More homeowners eager to sell their home are lowering their initial asking price in a bid to entice prospective buyers as the spring homebuying season gets going. Some 14.6% of U.S. homes listed for sale last month had their price lowered, according to Realtor.com. That’s up from 13.2% a year earlier, the first annual increase since May, 2023.   (AP)

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North Dakota’s January seasonally adjusted jobless rate was 1.9%.  That equals the rate for December and is .1% lower than one year ago.  In January, North Dakota ranked 1st among all states’ unemployment rates. South Dakota came in 2nd place, with an unemployment rate of 2.1 percent.  A total of 10,478 North Dakotans were in search of work during the month.

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UND has launched a national search for a new VP for Health Affairs and dean of the School of Medicine & Health Sciences.  Dr. Art Malloy, vice president for student affairs, and Dr. Maridee Shogren, dean of the College of Nursing & Professional Disciplines, will co-chair the 21 member search committee.  Semi-finalist interviews are tentatively set for mid-August. Dr. Joshua Wynne is stepping down but will remain on the UND faculty at a reduced Full Time Equivalent level.

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Daycare offerings will get a boost in Thief River Falls with the Discovery Place childcare center.  The new facility will a partnership between Valley Assisted Living and Corporate sponsor DigiKey.  A task force study suggests TRF is currently short 300 daycare spots.  Discovery will provide space for 156 children with a goal of being open by late 2024.

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The Minnesota Department of Employment and Economic Development (DEED) is accepting applications for another $50 million in broadband development grants.  The latest grant round is the 10th time DEED has released funding through the Border-to-Border Broadband Program.  Since its creation in 2014 nearly $350 million in grants has gone to expand service to more than 112,000 homes and businesses statewide.

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March is Aviation Month across North Dakota.  Recent studies suggest the aviation and aerospace industries annually contribute $3.6 billion dollars to North Dakota’s economy.  North Dakota has eight commercial and 89 public airports.

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Best Buy is recalling more than 287,000 air fryers and air fryer ovens.  According to the U.S. Consumer Product Safety Commission, the Insignia-branded air fryer ovens can overheat — and their glass doors can shatter as a result.  The recall covers six models of Insignia air fryer and air fryer ovens that were purchased from Best Buy and third-party sellers like eBay between November 2021 and November 2023.

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The North Dakota Department of Agriculture will hold its Pride of Dakota Business Education Conference March 22 in Bismarck.  The program is celebrating 39 years of helping North Dakota businesses develop and expand domestic and foreign markets and currently sports more than 500 active and associate members.