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The US economy expanded at an annual pace of 2.9% from October to December, ending 2022 with momentum despite high interest rate pressures and looming recession fears. Government estimates showed the country’s gross domestic product slowed in the last quarter from its 3.2% annual growth rate announced from July to September.
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The Federal Reserve’s favorable inflation gauge eased further in December and consumer spending fell. This is the latest evidence that a series of Federal Reserve rate hikes are slowing the economy. Prices rose 5% y/y last month, down from a 5.5% y/y gain in November. It was a three-game losing streak. Private consumption he fell 0.2% from November to December.
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North Dakota’s non-seasonally adjusted unemployment rate in December 2022 rose 2.2% from the previous month, according to preliminary labor force statistics. A year ago the rate was 3.0% for him. A total of 8,940 people were looking for work last month, according to the ND Job Service.
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Minnesota’s unemployment rate rose 0.2 percentage points to 2.5% in December 2022, but remains at a historic low. In the private sector, he added 900 jobs in December, but government job cuts (down 6,100) caused the drop in jobs. These losses belonged entirely to the local government.
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The North Dakota Public Service Commission reports that the agency received over 1,000 consumer contacts in 2022. This includes informal complaints against regulated organizations, public comments submitted as part of open cases, and referrals to other agencies. The most common reasons for complaints are billing issues, disconnects and dropped calls.
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The Grand Forks Growth Fund Board has approved a $107,692 FlexPace loan to Wallwork Truck Center. The business wants to use the loan to lower the bank loan interest rate for further expansion and land acquisition at the 5505 Gateway Drive site. The total project is fixed at over $4 million. JDA will also review the request.
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North Dakota Tourism officials have unveiled a new marketing campaign and a 100th anniversary edition of the state highway map. Called Hello, the campaign is based on feedback that North Dakota lives up to expectations with its vast outdoors, exciting events and cities, friendly people, and affordable prices. The department plans to spend his $3.1 million on state promotion in 2023.
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Opponents to plans to remove horses from Theodore Roosevelt National Park are urging the park to reconsider its possible move.The National Park Service is accepting public comments through the end of this month. Supporters say horses are an economic attraction to the park and its heritage, Gov. Doug Burgum will address the issue at a press conference Monday.
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The 26 colleges and seven colleges that make up Minnesota contributed a combined $8.4 billion to the state’s economy in 2021. Economic analysis suggests that economic activity supports and sustains her 62,125 jobs across the state. According to the report, the NCTC gave her more than $127 million in economic impact to the region while supporting her 953 jobs.
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Rodney Scharf of Bowman, North Dakota has been inducted into the state’s Aviation Hall of Fame. In 2012, Rodney became his fourth pilot to complete the state’s passport program, flying to all of his 89 public-use airports in North Dakota. Rodney’s first military mission sent him to Grand Forks Air Force Base. After being discharged from the Air Force in 1978, Rodney was hired as a pilot for Delta Air Lines, a successful career until his retirement in 2004.
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Amazon is adding a prescription drug discount program to its growing healthcare business. According to the retail giant, RxPass will be a subscription service for customers with a Prime membership. Amazon says people will pay $5 a month to create as many prescriptions as they want from a list of about 50 generic drugs. The company said it could cover a list of drugs such as the antibiotic amoxicillin and the anti-inflammatory drug naproxen for a flat fee.
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