Doug Barrett | Dec 29, 2018 AT 11:45 am
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U.S. consumer confidence tumbled this month as Americans began to worry that economic growth will moderate next year. But consumer spirits are still high by historic standards. The Conference Board, a business research group, says its consumer confidence index fell to 128.1 in December, down from 136.4 in November and lowest since July.
U.S. long-term mortgage rates fell this week, offering a slight degree of relief to would-be homebuyers after the stock market has tumbled. Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage dipped to 4.55 percent from to 4.62 percent last week. Rates averaged 3.99 percent a year ago.
Minnesota’s minimum-wage rates will be adjusted for inflation beginning Jan. 1, 2019, to $9.86 an hour for large employers and $8.04 an hour for other state minimum wages. An estimated 219,000 hourly workers in Minnesota (not including jobs in Minneapolis) will earn the $9.86 or $8.04 state minimum-wage rates.
Preliminary labor force statistics indicate North Dakota’s November 2018 not seasonally adjusted unemployment rate was 2.2 percent, higher than the prior month and lower than the 2.3 percent rate reported one year prior. Adjusted for seasonality, North Dakota’s unemployment rate was 2.8 percent, unchanged from the prior month. The U.S. rate was 3.7 percent.
North Dakota’s taxable sales and purchases for the third quarter of 2018 are up. Taxable sales and purchases for July, August and September of 2018 were nearly $5.610 billion, an 18.17 percent increase over those months in 2017. Grand Forks saw S & P’s fall by 8.75%.
Moody’s Investor Service has revised the State of North Dakota’s issuer rating outlook from negative to stable, citing the state’s progress toward a structurally balanced budget and replenishing reserves. According to Moody’s the stable outlook “reflects the state’s progress towards structural balance and rapid restoration of reserves as the economy and revenues continue to recover from the 2016 energy recession.”
Boardings at the Grand Forks airport in November surpassed year ago levels. A total of 10,095 passengers went through the gates last month. With eleven months in the books a total of 102,302 people have passed through the GFK. That’s down 1.65% compared to one-year ago.
The Fargo-Moorhead Coalition for Homeless Persons is changing its name to the Fargo-Moorhead Coalition to End Homelessness. The change is designed to reflect the long-time mission of the organization in preventing and ending homelessness in the communities of Fargo, Dilworth, Moorhead, and West Fargo. The new name is effective immediately.
Amazon's rise is forcing laundry detergents to shrink. Soap makers Tide and Seventh Generation have introduced redesigned laundry detergents that are several pounds lighter by cutting down on plastic in their packaging and using less water in their formulas. They're making the changes to please Amazon and other online stores: Lighter packaging means retailers will pay less to ship the detergent to shopper's doorsteps - making each sale more profitable.
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