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Business News: GF jobs…Boot Barn & Green Mill

By Doug Barrett Jun 26, 2022 | 6:47 PM

Fewer Americans applied for jobless benefits last week as the U.S. job market remains robust despite myriad economic pressures, including four-decade high inflation. The Labor Department says applications for jobless aid for the week ending June 18 fell to 229,000, a decline of 2,000 from the previous week. First-time applications generally mirror the number of layoffs.

 

The unemployment rate in Grand Forks County in May was 1.8%.  That’s lower than the statewide average of 2.1%.  A total of 37,348 are employed in the county – while 696 people were in search of a job last month.

 

Minnesota lost 417,600 jobs from February through April 2020 and has since gained 335,900 jobs as of May 2022, or 80% of the jobs lost on a seasonally adjusted basis. The private sector has regained 330,600 jobs, or 85% of the jobs lost.  In Minnesota wages are not currently keeping up with the rate of inflation. Over the year average hourly earnings rose $1.12, up 3.4%, less than half of the increase in consumer prices over the same period.

 

Average long-term U.S. mortgage rates inched up this week following last week’s mammoth jump, the biggest in 35 years. Mortgage buyer Freddie Mac reports that the 30-year rate ticked up to 5.81% this week, from last week’s 5.78%. Last week’s average was the highest since November of 2008 during the housing crisis.

 

The City of Grand Forks has issued building permits on a couple of business fronts.  A permit was been issued for a $400,000 dollar fit-up at 3801 32nd Avenue South for Boot Barn.  In addition a permit at 402 DeMers is a $157,000 Lotus Yoga Studio project.

Pictured:  Boot Barn storefront

 

The Crooked Pint Ale House launched its Green Mill on the Go concept this past week.  The move will add limited Green Mill food items to the existing menu.  The Grand Forks location is the third Crooked Pint site to roll out the feature.  Crooked Pint and Green Mill are part of the Hightop Hospitality family of brands.   The rollout was announced by KNOX News in March.

 

The University of North Dakota has unveiled the J.J. Safranski Northwestern Mutual Team Room inside the Betty Engelstad Sioux Center.   The room was a place where volleyball and basketball teams would congregate before games, ate their pregame meals and took part in post-game press conferences. The area will now serve as a multi-purpose team room with an emphasis on team video for the volleyball and basketball programs at UND.   There will be an official opening of the room on July 28th.

 

Mike McHugh and Eric Nelson will be joining the North Dakota Board of Public School Education, which provides guidance and oversight for the state’s K-12 system.  McHugh, of Mandan, is the aviation education coordinator for the state Aeronautics Commission.  Nelson is a Williston resident and a senior technical adviser for Creedence Energy Services.  The board also oversees North Dakota’s state CTE department.

 

Toyota is recalling 2,700 of its bZ4X crossover vehicles globally for wheel bolts that could become loose, in a major setback for the Japanese automaker’s ambitions to roll out electric cars. Toyota says the cause is still under investigation, but the whole wheel could come off, risking a crash.

 

Verizon and AT&T won’t power up some wireless towers near airports until next summer to give airlines more time to make sure the new service won’t interfere with planes. But the airline industry is not happy about the deal. The Federal Aviation Administration said the companies agreed to hold off until July 2023.  AT&T says it will control the strength of new 5G signals near runways so airlines have more time to retrofit planes.

 

Neither inflation nor war in Ukraine seem to be threatening to take a bite out of the luxury fashion market. While much of the world frets over higher fuel and energy prices, a new study of global luxury by Bain & Company consultancy indicates that high-end market sales of personal luxury goods like apparel, handbags and footwear remain set for growth. That is largely due to the continue resiliency of the globe’s wealthiest populations.

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