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Unemployment Rate

Total nonfarm payroll employment increased by 263,000 in September, and the unemployment rate edged down to 3.5%. Notable job gains occurred in leisure and hospitality and in health care.

Total Men, 20 years and over Women, 20 years and over 16 to 19 year olds

White Black or African American

Asian Hispanic or Latino

US MANUFACTURING – OUTPUT

After the COVID-19 pandemic began, manufacturing output fell at a 43% annual rate and hours worked fell at a 38% rate in the second quarter of 2020, according to information from the U.S. Bureau of Labor Statistics. These were the largest declines since World War II. Motor vehicle production virtually ceased, and some of the plants that stayed open even pitched in to produce ventilators. Other major manufacturing industries hit hard include primary metals, fabricated metal products, machinery, food and beverage and tobacco products, and chemicals. No major industry was immune to the second quarter declines. The motor vehicle industry was the driving force in the immediate recovery, as manufacturing output recovered within 5% of pre-pandemic levels. Motor vehicle and parts production declined over the next three quarters—due in part to supply-chain disruptions. At the same time, many other industries continued to recover, led by computer and electronic products, chemicals, and machinery, resulting in overall manufacturing output growth.

Fabricated metals

Computer and electronic products

Food, beverage, and tobacco

Chemical

Source:

US MANUFACTURING – HOURS WORKED

Manufacturing output surged back in the third quarter of 2020. The annualized gains in manufacturing output (53%) and hours worked (30%) in the third quarter of 2020 were the largest ever recorded. Output recovered faster than hours worked, resulting in a historically high increase in manufacturing productivity of 18%. Manufacturing productivity increased more than 9% in the second quarter of 2021, the quarter with the largest decline in hours worked since the second quarter of 2020. Manufacturing output has continued to grow steadily through the second quarter of 2022 and was 3.5% above the level in the fourth quarter of 2019, the last quarter not affected by the COVID-19 pandemic.

Source: U.S. Bureau of Labor Statistics

Labor Force Participation

Real average hourly earnings for all employees on private nonfarm payrolls decreased 2.8% from August 2021 to August 2022. The change in real average hourly earnings combined with a decrease of 0.6% in the average workweek resulted in a 3.4% decrease in real average weekly earnings over this period.

Source:

Literally. The custom home builder is set to open a new location. The Lights on Sheyenne Street in West Fargo early next year, giving clients a comfortable space to do it all-see finishes, discuss floor plans and meet with the team’s onsite real estate team. Streamlining the home building process to make it as easy as possible for clients is their mission and it’s the team’s approach and partnerships that make it happen.

What They Do

“We know it can be overwhelming, especially for homeowners looking at building a home to their specifications from the ground up,” said Ron Lemer, senior Vice President at Ultima Bank. “But regardless of what they’re envisioning or where they’re at in the process, we know that having a designated design, real estate, construction and lending team within arm’s reach eases the burden.”

No matter where homeowners are starting from, whether a concept from Pinterest or a floor plan from Horizon’s website, the goal of the process is the same—to create a home that fits the homeowner’s unique needs, wants and budget. The Horizon team is there through it all to provide guidance at every stage, whether homeowners know what they want or are starting at ground zero. They also work alongside each client’s lenders and realtors, whether they’re under the Horizon Homes roof or not.

What They Can Build

Horizon Homes offers a variety of floor plans homeowners can select and customize with specific finishes as well as a team that can design a home that’s truly unique, from $380,000 starter homes to those $1 million and up. Whether clients want to build within Fargo-Moorhead or in lakes country the team works within about a 100-mile radius.

The builder’s Expanded Traditional Rambler floor plan has been a top choice for many clients with growing families. The sixbedroom, three-bathroom home features a charming front-covered porch, one bedroom on the main floor that can double as an office, a completely open concept on the main floor, and high vaulted ceilings.

Ultima Bank Minnesota

Their Partners

Horizon Homes’ on-site partners play a large part in making the home building experience a good one for each and every client. Whether homeowners need mortgage or construction financing, two of their most frequent lending partners, Ultima Bank Minnesota and Capital Credit Union, are there to help.

“Horizon Homes has been a great startup story. They launched their home building company in the spring of 2020, right at the height of the Covid pandemic. We’ve worked alongside them on many jobs,” said Doug Lee, market president, Capital Credit Union. “We trust their team and their decision making and are confident that they will help many people build their dream home.”

Ultima Bank Minnesota (UBM) worked alongside Horizon Homes on a neighborhood construction project located in South Fargo. “We provided the construction financing needed to get this project off the ground. UBM works with builders and homeowners throughout the region, providing construction and permanent financing” said Ron Lemer, senior Vice President at Ultima Bank..

Horizon’s independent realtor agency is also available to assist homeowners who need to sell a home. Gena and Michael Syvertson are award-winning realtors who have devoted their lives to the profession they love.

Capital Credit Union

"Our goal is to make our clients 100 percent satisfied,” said Michael Syvertson. “When Horizon Homes approached us to team up with them, we joined them because we knew these were people with the same values and integrity we believe.”

Michael and Gena opened REALTY XPERTS and have since helped hundreds of clients through the home building experience and sold more than $1 billion dollars in Real Estate with the underlying mission of 100 percent satisfaction.

To learn more about Horizon Homes visit buildyourhorizon.com or get started on your home-building journey by calling the Horizon team at 701-356-3100 or emailing sales@buildyourhorizon.

Realty Xperts

Ultima Bank Minnesota (UBM) originated in 1904, in a small farming community in northwest Minnesota as Farmers State Bank of Winger. Winger is a small farming community in northwest Minnesota. Since that time, the bank has expanded with five locations in northwest Minnesota, serving clients across the United States, in part due to it’s cutting-edge electronic banking products.

As a result, UBM is a nationally recognized, highly ranked community bank that has developed its own internal financial services software, Ultima Dashboard Suite.

“Ultima Bank Minnesota is pleased to play a role in Horizon Homes’ success”, adds SVP Lemer.

Capital Credit Union has been serving members in North Dakota since 1936, offering personal and business services including auto loans, home equity loans, mortgage loans, checking accounts, savings accounts, business loans and more. They have 11 branches across the state, including those in Bismarck, Mandan, Fargo, Beaulah, Hazen and New Salem.

Michael and Gena Syvertson founded Realty Xperts in 2021. Over their 30 years of combined experience, the duo has won several awards, including an earning #1 ND Team in Close Volume and Revenue during their tenure at Remax/Legacy. Realty Xperts prides itself on being able to serve a wide variety of clients, whether they’re buying, selling, looking for a first home or a luxury retirement place.