Statewide Business Pulse

Workforce ▲
Agriculture ▲
Energy ▲
Transportation ▲
Construction ▬
Retail ▲
Technology ▲
Healthcare ▲
Outdoor Economy ▬
Government / Nonprofit ▲

Legend: ▲ new signal · ▬ stable

Today’s Signals

• The U.S. Census Bureau reports construction spending increased modestly in the latest release, signaling continued activity despite higher financing costs.
Source: https://www.census.gov/construction/c30/

• The ADP reports private payroll growth slowed, suggesting hiring demand may be cooling slightly while remaining positive.
Source: https://adpemploymentreport.com/

• North Dakota Commerce continues accepting applications for the Talent Pipeline Fly-In Grant Program, with funds still being allocated to employers recruiting out-of-state workers.
Source: https://www.commerce.nd.gov/workforce/find-good-life/talent-pipeline-fly-grant-program

• Global fertilizer markets remain tight, with elevated nitrogen prices and reduced export availability continuing to affect spring purchasing decisions.
Source: https://www.reuters.com/business

Pattern Watch

The signal today is “activity continues—but momentum is uneven.”
Construction spending is holding, hiring is slowing slightly, and input pressures remain elevated. Businesses are still moving, but not all sectors are moving at the same pace.

Industry Briefs

Construction / Real Estate ▬ / ▲

Construction spending increased modestly, indicating projects are still moving forward despite cost pressures.

Source: https://www.census.gov/construction/c30/

Why it matters
This suggests resilience in:

• infrastructure
• commercial projects
• housing (selectively)

Workforce / Labor ▲

Private payroll growth slowed slightly, indicating hiring demand may be stabilizing after a strong run.

Source: https://adpemploymentreport.com/

Why it matters
The labor market may be shifting from:

• aggressive hiring
  to
• more selective hiring

Retail ▲

Consumer behavior remains active but value-focused, with continued sensitivity to pricing.

Agriculture ▲

Fertilizer supply remains constrained globally, with:

• higher prices
• reduced availability
• increased planning pressure

Why it matters
This continues to impact:

• planting decisions
• input purchasing
• margins

Energy ▲

Energy demand remains steady, supporting:

• transportation
• agriculture
• industrial activity

Transportation / Logistics ▲

Freight demand continues to build with seasonal activity and steady construction movement.

Technology ▲

Investment interest in AI and digital infrastructure remains strong, supporting long-term growth potential.

Healthcare ▲

Workforce shortages continue to affect service delivery and capacity, especially in rural areas.

Government / Economic Development ▲

The Fly-In Grant Program remains one of the most actionable workforce tools currently available.

Source: https://www.commerce.nd.gov/workforce/find-good-life/talent-pipeline-fly-grant-program

Outdoor Economy ▬

No new major developments surfaced today.

Two Numbers & a Nudge

Two Numbers

• Construction spending increased — signaling continued project activity
Source: https://www.census.gov/construction/c30/

• Hiring growth slowing — shift toward more cautious labor expansion
Source: https://adpemploymentreport.com/

Nudge

If construction is holding while hiring slows, businesses may benefit from focusing on productivity and efficiency—not just expansion.

Headwind / Tailwind

Headwind
Labor growth is slowing while input costs remain elevated.

Tailwind
Construction and demand signals show continued economic activity.