The U.S. job market remains healthy as fewer Americans applied for unemployment benefits last week, despite the Federal Reserve’s rapid interest rate hikes this year intended to bring down inflation and tighten the labor market. Applications for jobless claims for the week ending Nov. 12 fell by 4,000 to 222,000.
Sales of previously occupied U.S. homes fell in October for the ninth month in a row to the slowest pre-pandemic sales pace in more than 10 years, as homebuyers grappled with sharply higher mortgage rates, rising home prices and fewer properties on the market. The National Association of Realtors said Friday that existing home sales fell 5.9% last month from September to a seasonally adjusted annual rate of 4.43 million.
Minnesota gained 17,400 jobs in October according to numbers released by the Minnesota Department of Employment and Economic Development (DEED). All of that job growth came in Minnesota’s private sector. This is the 13th consecutive month of job gains in Minnesota. Minnesota’s unemployment rate remains historically low at 2.1%, up one-tenth of a point from September.
The Labor Market Information Center has released the second quarter employment and wages by industry. In Q2 (Apr-Jun) North Dakota’s total employment increased 2.3 percent on a year-over-year basis to 411,383 – an increase of 9,201 jobs. Average weekly wages were $1,131, higher by 6.0 percent from the same quarter one year ago.
The Minnesota Department of Revenue has released the list of the preliminary maximum property tax levies that have been reported by local governments as of November 8th. The 2023 preliminary property tax levies for counties will total approximately $3.78 billion dollars – a 4.9% increase. In northwest Minnesota increases range from 3.9% in Norman to 5.5% in Polk…8% in Mahnomen….an even 10% for Roseau and Marshall….and 11.3% in Red Lake. Local governments must set their final 2023 property tax levies by December 28, 2022.
North Dakota Health and Human Services Vocational Rehabilitation (VR) has recognized two organizations for supporting an inclusive workforce by hiring, training and inspiring people with disabilities to excel in the workforce. The agency and State Rehabilitation Council selected True North Equipment of Grand Forks as the 2022 North Dakota State VR Employer of the Year award recipient. The Standing Rock Community School in Fort Yates was recognized with the You Make a Difference Award.
The Board of Trustees of Minnesota State Colleges and Universities today appointed Scott Goings to serve as general counsel. Goings has served Minnesota State for 14 years, including as assistant general counsel from 2008 to 2022. He holds a bachelor’s degree from Grinnell College (IA) and a Juris Doctor from the University of Iowa – College of Law.
An unexpected pullback in customer spending ahead of the holiday shopping season pushed third quarter profits at Target down 52% after it was forced to slash prices for Americans who are feeling the squeeze of inflation. CEO Brian Cornell says sales weakened significantly in the weeks leading up to October 29, the end of the most recent quarter, with more customers refusing to pay full price and waiting for sales.
The Grand Forks council is poised to grant the owners of the Wild Bill’s Sports up to a one-year extension on its Alcoholic Beverage License as they market the closed eatery for sale or lease. The extension is contingent upon payment of the 2023 annual fee. Without action the license will expire December 31st. The business is located at 1405 DeMers Avenue.
JL Beers is closing its Moorhead location. In a social media post the business sites labor shortages for the shutdown. The decision will not impact other JL Beers locations. Today (Sunday) marks the final day of operation for the Highway 10 establishment.
Americans are bracing for a costly Thanksgiving this year, with double-digit percent increases in the price of turkey, potatoes, stuffing, canned pumpkin and other staples. Higher production costs are only part of the reason. Turkey supplies are at their lowest point since 1986 after a deadly avian flu wiped out flocks, and prices are up about 28%. But experts say there won’t be shortages because producers shifted production to meet Thanksgiving demand.
A coalition of consumer groups is asking grocery chains to rethink their digital-only coupons. Consumer Reports, Consumer World and others say the deals discriminate against people who don’t have smartphones or reliable internet access. Digital-only deals are advertised online or on store shelves. They can offer significant savings, but they require customers to electronically clip a coupon in a grocer’s app or on its website.
Ford is recalling more than 550,000 F-150 vehicles in the U.S. and Canada because the front windshield wiper motor may stop functioning, causing the wipers to stop working. The automobile maker said that the inoperative windshield wipers on the 2021-2022 models can reduce visibility in certain conditions, which could increase the risk of a crash. Recall notification letters are expected to be mailed in the U.S. on January 3rd.
The PBR (Professional Bull Riders) Pendleton Whisky Velocity Tour (PWVT) will return to the Alerus Center on April 15, 2023. During the upcoming season, the PBR will celebrate its 30th anniversary.
