"ABC continues to believe 2014 will represent a year of more vigorous recovery; however, 2013 has proven to be a bit
—ABC Chief Economist Anirban Basu.
While overall national construction employment remained unchanged in August, nonresidential construction lost 3,300 jobs, according to the Sept. 6 employment report by the U.S. Department of Labor. Construction industry employment has grown 3 percent, adding 168,000 jobs, since the same time last year. Nonresidential construction accounted for 42 percent of thatb growth—making August a deviation from what generally has been a positive nonresidential construction employment trend.
Yellowstone County, and Montana as a whole, have both recovered to pre-recession peaks, by most measures. However, 2013
will probably not be as good a year as was 2012, and economists at the mid-summer Economic Outlook "update" are scaling
back their projections. As it turns out, they say, with final figures in, 2012 was a better year than they originally thought.
The technology is now available to allow oil companies to recycle water used for hydraulic fracturing in North Dakota.
In what was described as a 'game changer,' the partnership of two companies, Halliburton and Nuverra Environmental Services introduced the new system in Watford City recently.
The annual American Economic Development Institute and Pollina Corporate Real Estate, Inc. report, considered the most comprehensive, unbiased and unvarnished by the economic development industry, examines 32 factors relative to state efforts to develop pro-business strategies. Factors weighed in the study include taxes, human resources, education, right-to-work legislation, energy costs, and investments infrastructure.
The Pollina Corporate Top 10 Pro-Business States for 2013 are:
3. North Dakota
8. South Dakota
There's more oil where that came from, is the report of one Bakken company.
Most of the oil coming out of the Bakken has been coming out of what's called the "middle Bakken" and the upper portion of another formation known as the Three Forks Sanish or the "Three Forks."
What's in three lower "benches" of the Three Forks has been, until now, "a mystery."
It's a rosy picture for Billings in terms of the housing market and employment. Numbers are not only increasing, but numbers reached in 2013 will exceed pre-recession peaks. Already, by most measures, the residential real estate market has exceeded 2006 peaks, and "employment in Yellowstone County already exceeds all previous highs," according to local Real Estate Broker Howard Sumner.
If the first half of the year, says Sumner, "were a football game, the residential market in Billings would be leading 21 to zero."
With North Dakota production exceeding 810,000 barrels a day, a new forecast predicts the state will reach 937,000 BOPD by the end of the year and 1.1 million BOPD by the end of 2014.
Genscape is predicting that between May and the end of the year, producers will add another 127,000 BOPD of production.
The doom that has been foretold about the dying-off of honey bees, may be more media hype than reality. PERC (Property and Environment Research Center), a Bozeman-based think tank, reports that while the problem of "colony collapse disorder" (CCD) is very real, those who have jumped to conclusions about it placing our food supply in peril, or that we have reached "a crisis point for crops," have failed to take into account the reactions of beekeepers.
A PERC report quotes economists Randal Rucker and Walter Thurman, explaining: "The overblown response to CCD in the media stems from a failure to appreciate the resilience of markets in accommodating shocks of various sorts."
The Big Sky Business Journal
P.O. Box 3262
Billings, MT 59103