Tag Archives: Economy

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Bette Grande: Are Artificially Low Gas Prices Worth It?

Bette Grande: Are Artificially Low Gas Prices Worth It?

As we enter the winter months and spend time warming up our cars and traveling in the cold, we should be happy about the low gas prices, right?  The mainstream media is full of stories about the lower gas prices putting money in our pockets, but is that the whole story? First, some perspective, if

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David Flynn: Three North Dakota Counties Responsible For 50 Percent Of Jobs Increase

So yesterday I looked at how the oil patch core counties (Dunn, McKenzie, Mountrail, Williams) are responsible for over 50% of the employment increase in North Dakota in the last year (posting). I thought I would look at those particular counties again and compare to the state overall. I looked at the percentage change of

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North Dakota Has Almost Three Job Openings For Every Unemployed Worker

I wrote about the State of North Dakota’s latest job openings at Watchdog.org today: BISMARCK, N.D. — The latest unemployment figures from North Dakota paint a familiar picture for citizens of the oil-rich state. A rock-bottom unemployment rate, and far more jobs than available workers, have become common themes. “The nation’s seasonally adjusted unemployment rate

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Ernie Goss: Rising Minimum Wage Means Less Hours For Workers

The current popular rant among many non-economists is that opposition to raising the minimum wage is equivalent to opposition to worker rights. Those who are more intellectually curious will find there is no theoretical basis for this conclusion and empirical studies have come down on both sides of the argument–i.e. increasing the minimum wage is

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James Kerian: North Dakota Showcases The Power Of Competition

North Dakota’s elected officials like to take credit for our state’s booming economy. Their challengers like to point out that no incumbent every put oil in the ground. Some of North Dakota’s policy makers say that if other states did things our way the country would be in much better shape economically. Others retort that

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David Flynn: Is the Fed Losing Control of Inflation Expectations?

This is a little more macro/money than much of the stuff I post here but it seems to be something people miss sometimes. The Federal Reserve drastically lowered rates in response to the unfolding financial crisis in 2008 and later. Those rates remain low today, essentially set between 0.0 and 0.25%. Despite this range the

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David Flynn: What Really Drives the Price of Oil?

I have not looked at oil production time series for North Dakota in a while so I thought it time to take a look. Oil production, in fact most commodity production (and certainly extractive production) has an interesting cost structure. There are significant fixed cost elements to cover in order to generate profit. Notice in

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David Flynn: North Dakota Continues Stellar Labor Market Growth

The Bureau of Labor Statistics (BLS) released data on employment and unemployment from the Current Employment Statistics survey. North Dakota was number one in the country with a 4.4% increase in total nonfarm employment from year ago levels. That is 12 consecutive months where the year-over-year percent change was at or above 3%, and something

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