economy

North Dakota AG Commissioner weighs in on port workers strike, economy

FARGO, N.D. (KVRR) — The union on strike since Tuesday at ports along the East and Gulf Coasts are heading back to work Friday after a tentative deal over wages is reached. Economists say if the strike continues it would cost the U.S. economy greatly. With the thousands of dockworkers still on strike, it is estimated that if the strike…

Fargo area economy boosted as thousands attend NCAA regionals

FARGO, N.D. (KVRR) — The NCAA hockey tournament is at Scheels Arena. “I’ve never been to Fargo before, first time. We probably won’t do much, we did hear about going to a Sandy’s Donut shop, we might have to check that out,” says hockey fan Bonnie Blair-Cruikshank. Blair-Cruikshank, better known as Bonnie Blair, competed in the 1984, 1988, 1992 and…

Microsoft blames economic woes for missing profit targets

Microsoft Campus in FargoREDMOND, Wash. (AP) – Microsoft on Tuesday reported fiscal fourth-quarter profit of $16.7 billion, or $2.23 per share, a rare disappointment from the tech giant that has consistently beat Wall Street expectations in recent years. It posted revenue of $51.9 billion in the April-June period, up 12% from last year. Analysts had been looking for earnings of…

North Dakota Economy Is Booming Post-Pandemic

BISMARCK, N.D. (KVRR/AP) — North Dakota keeps showing signs of economic growth. Taxable sales and purchases for the first quarter of 2022 were up 13.2% compared to the same period last year. State Tax Commissioner Brian Kroshus reports all of the 15 major industry sectors reported increases over the first quarter of 2021. He says it’s the fourth consecutive quarter…

U.S. inflation reaches new 40-year high

WASHINGTON – The prices of gas, food and most other goods and services jumped in May, raising inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices surged 8.6% last month from 12 months earlier, faster than April’s year-over-year increase of 8.3%. The new inflation figure, the biggest yearly increase since December 1981,…

Report says North Dakota’s 2022 economic outlook is strong

BISMARCK, N.D. – The latest economic outlook report for North Dakota is showing continued improvement for 2022, despite a national economy that shrank in the first quarter and is showing signs of entering a recession. The quarterly report by the NDSU predicts growth in wages and salaries, as well as a growing labor force with decreasing unemployment rates, strong total…

Report shows North Dakota economy poised for growth

FARGO – The latest outlook from North Dakota State University researchers finds the state’s economy is poised for growth this year. The quarterly report indicates growth in salaries and wages, as well as a growing labor force, decreasing unemployment rates, strong tax collections and a rising gross state product. NDSU economics professor Jeremy Jackson says the report shows a reduced…