Business News: Bonds … GF School Rent & Sports Betting

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Americans increased their spending slightly in August from July, even as rising inflation on household items like rent and groceries weighs on household budgets. US retail sales rose an unexpected 0.3% last month after falling 0.4% in July.

Most of the US economy is weathering the hottest inflation in four decades and the threat of a potential recession. Hotels, restaurants and other businesses that provide services continued to gain ground over the summer, according to the latest survey by the Institute for Procurement Management. The sector has been expanding since May and August’s gain was the biggest so far this year.

The number of Americans filing for unemployment benefits fell to a four-month low again last week, even as the Federal Reserve continues to aggressively cut interest rates to bring inflation under control. Jobless claims for the week ended September 10 fell 5,000 to 213,000. These are the fewest since the end of May.

Minnesota’s unemployment rate rose a tenth of a point to 1.9% in August but remains at an all-time low. Seasonally adjusted, Minnesota lost 3,100 jobs in August, down 0.1%, after adding 17,100 jobs (revised) in July 2022. During the year, Minnesota added 72,549 jobs, up 2.5%.

Grand Forks County has postponed the offer date for the sale of $35,000,000 in bonds to October 18. The public sale was originally scheduled for September 19. The money will be used to fund the construction of a prison expansion and youth detention project. The date change coincides with the completion of a district exam.

The Grand Forks School District has a new Human Resources Director. Griffin Gillespie is currently the Director of Human Resources at the University of Minnesota Crookston. He will replace Linsey Stadstad, who will leave the position on September 23. Three finalists were interviewed for the job.

Bismarck-based Mid Dakota Clinic will become part of Essentia Health effective October 1. Essentia serves North Dakota, Minnesota and Wisconsin. Mid Dakota has eight clinics in Bismarck. The two organizations began talks in June.

The North Dakota Department of Commerce Tourism has announced that its recently enhanced North Dakota Tourism website has been recognized as an “Outstanding Website” by the Web Marketing Association’s WebAwards. The improvements resulted in a 25.6% increase in traffic with a record 2.15 million visits. Website visits are a top signal of travel intentions.

The ND Lignite Energy Council has announced the addition of Retha Mattern as Director of Education and Membership. Mattern joined from Bismarck State College where she previously served in a variety of roles including Director of Admissions & Outreach. Mattern was also a non-voting member of the North Dakota State Board of Higher Education for three years.

FedEx is closing storefronts and corporate offices while postponing hiring in a belt-tightening drive caused by drop-offs in its global package delivery business. In response, costs are being reduced by closing over 90 FedEx office locations and five corporate offices, postponing new hires and operating fewer flights.

Nissan is recalling more than 203,000 pickup trucks in the US because they can unexpectedly roll away when parked. The recall affects 2020 through 2023 model year Frontier and Titan pickups. Nissan says there are no known accidents or injuries. The company is still working on the repair.

A new poll shows nearly one in five US adults has wagered money on sports in the past year. The Pew Research Center report shows that 19% of the adults surveyed said they bet on sports. The most common were bets with friends or family, such as B. a private betting pool, a fantasy league or a bet of opportunity. 15% say they bet this way. Only 8% say they have placed sports bets in person at a casino, racetrack or kiosk and 6% have done so online.

Oktoberfest is back in Germany after two years of being canceled due to the pandemic. Energy, barley, hops, even paper and glue for labels, cardboard for crates and steel drums have all risen in price as inflation hits record levels across Europe. The price of one of the hefty mugs that will be sure to draw revelers up is up 15%, with the brewing industry grappling with rising costs.

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