The U.S. unemployment rate has hit 14.7%, a level last seen during the Great Depression, and 0.5 million jobs vanished in the worst monthly loss on record. It is stark evidence of how the coronavirus has impacted the economy. The US shed 20 million jobs in April from viral outbreak.
The National Multifamily Housing Council Rent Payment Tracker found 80.2 percent of apartment households made a full or partial rent payment by May 6 in its survey of 11.4 million units of professionally managed apartment units across the country. This is a 1.5-percentage point decrease in the share who paid rent through May 6, 2019 and compares to 78.0 percent that had paid by April 6, 2020.
The North Dakota Department of Commerce received more than 11,300 responses from the North Dakota COVID-19 Community Impact Survey. Commerce in partnership with other agencies, issued the statewide survey in April. The top four concerning situations include increased mental health struggles (68%), people losing their jobs and not knowing where to turn (67%), increased food insecurity and hunger (44%), and decreased social cohesion (42%).
The U.S. government’s highway safety agency will not force automakers to recall 56 million newer Takata air bag inflators, citing industry research that shows the devices are safe. Instead, the National Highway Traffic Safety Administration says it will keep monitoring the devices and take action if necessary.
Victoria’s Secret won’t be bought after all. L Brands, which owns the lingerie seller, said Monday that it has agreed to end a February deal that would have sold a controlling stake of Victoria’s Secret to private equity firm Sycamore Partners. Last month, Sycamore Partners sued to get out of the $525 million deal, citing the coronavirus pandemic, which forced the chain to close its stores and lose sales.
BDSA, a cannabis market intelligence and consumer research company, has announced that Illinois retail cannabis sales exceeded $188 million in the first quarter of 2020, reflecting adult-use sales of $109.96 million and medical sales of $78.2 million. This year’s sales are projected to exceed $693 million. Adult-use cannabis sales began in Illinois on January 1, 2020.
The North Dakota Industrial Commission has appointed David A. Flohr as the executive director of the North Dakota Housing Finance Agency (NDHFA). An NDHFA employee for 36 years, Flohr was appointed to serve as the agency’s interim executive director when Jolene Kline retired in July. He has been the homeownership division director since 2005.
New eligibility limits for programs that assist North Dakota residents, typically first-time buyers, with a home purchase have been approved by the North Dakota Industrial Commission. Administered by North Dakota Housing Finance Agency, the programs provide low-cost financing, and down payment and closing cost assistance. The Commission set the programs’ acquisition cost limits at $294,600 for a single-family home and set the maximum income limits at $86,900 to $119,945.
As the weather warms the Grand Forks Area Association of Realtors expects home sales to heat up. At last check 293 homes and townhomes were on the market in Grand Forks / East Grand Forks. A total of 54 properties exchanged hands in April compares to 78 for the same month in 2019. The sales price ranged from $81,900 to $475,000. The average number of days on market was 136.
The number of background checks for firearms in the month of April remained high amid fears from the coronavirus pandemic. The FBI conducted about 2.9 million background checks last month. In one week alone, more than 765,000 checks were conducted, one of the busiest weeks on record.
North Dakota Agriculture Commissioner Doug Goehring has been appointed trustee in the C&F Foods Inc. d/b/a Turtle River Bean Company of Manvel, ND grain insolvency proceedings. The Commissioner is offering for sale: red kidney beans, small red beans, small red splits, small red re-mill beans, black beans, organic black beans, organic black bean splits, pinto beans, pinto re-mill beans, feed beans and mixed beans at Manvel, North Dakota. Electronic or written bids will be considered. Bid deadline is Friday, May 15.
Organizers of the Greenway Takeover Festival in Grand Forks have set the 2020 music lineup. G. Love & Special Sauce…Trampled by Turtles…and Soul Asylum will headline the festival scheduled for September 10-12.
Source: https://knoxradio.com/news/local/gf-business-news-63