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Friday, January 27, 2023

Business News: GFK…ND Jobs and Homelessness

Sales of previously occupied US homes fell nearly 18% in 2022, the slowest year for the housing market in nearly a decade. The National Association of Realtors said existing home sales totaled 5.03 million last year, a 17.8% decline from 2021. That marks the weakest year for home sales since 2014. Still , the national median home price for all of last year rose 10.2%. at $386,300.

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Wholesale prices in the United States rose 6.2% in December from a year earlier, a sixth consecutive monthly slowdown and a hopeful sign that inflationary pressures will continue to cool. The latest year-on-year figure was down from 7.3% in November and the recent high of 11.7% in March.

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The number of people seeking unemployment benefits in the US hit a four-month low last week, a sign that employers are holding on to their workers despite efforts by the Federal Reserve to slow the economy and control inflation. The Labor Department reports that the number of Americans filing for unemployment benefits for the week ending Jan. 14 fell by 15,000 to 190,000, from 205,000 the week before.

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The Labor Market Information Center has released the latest Online Job Opening Report from Job Service North Dakota’s job board system. North Dakota had a total of 16,133 job openings open and available online in December 2022, a change of +0.8 percent (+132) from the prior month and -5.5 percent (-940) from the previous month. same month a year ago. In Grand Forks County, the largest employment gap lists are: health care… transportation… sales… and educational instruction.

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An annual Survey of Manufacturing Business Conditions conducted by the Minnesota Department of Employment and Economic Development (DEED) and the Federal Reserve Bank of Minneapolis found that most Minnesota manufacturers expect conditions to be virtually unchanged in 2023. 60 % of those surveyed expect wages to increase between 3 and 5%, while close to 40% anticipate an increase in benefits by the same amount. The survey results show that compared to 2021, most manufacturers showed improved or unchanged conditions in 2022.

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The North Dakota Homeless Continuum of Care will be conducting a spot count of homeless people on January 25. The US Department of Housing and Urban Development requires the recount annually. The most recent report counted 610 homeless people in North Dakota, up 11.3%. In Minnesota, the number topped 79,000.

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Passenger traffic through Grand Forks Airport posted its best performance in three years in 2022. GFK recorded a total of 87,491 passenger boardings last year, up 31% compared to 2021. That was the second percentage increase largest among the eight commercial airports in the north. Dakota trailing only the 42% increase in Williston. The growing aviation workforce includes openings for pilots, aircraft mechanics, and drone operators.

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The North Dakota Department of Commerce has provided a $145,000 loan to Uncle Charlie’s Gourmet Snacks. The Fargo-based company is looking to expand its production capacity. The funds will be used to purchase inventory, equipment and working capital.

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The North Dakota Department of Health and Human Services (HHS) has launched a new online licensing system for child care providers. The modern online system replaces a manual paper process. In addition, the system adds transparency. Both providers and the public can view license status information, including license checklists and correction orders, on the portal.

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Google says it is laying off 12,000 workers, becoming the latest tech company to cut staff as the economic boom the industry enjoyed during the COVID-19 pandemic ebbs. Microsoft recently announced 10,000 job cuts, or nearly 5% of its workforce. Amazon said this month it will cut 18,000 jobs.

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The Department of Agriculture issued new requirements for foods labeled organic, a move aimed at cracking down on fraud and increasing oversight. The rule strengthens enforcement of the USDA’s strict definitions of organic, which requires that these foods be made with natural substances and biologically-based growing methods. The new rule goes into effect in March and companies will have a year to comply with the requirements.

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