Greater North Dakota Chamber Releases Results of ND Economics and Employer Survey

[BISMARCK] The Greater North Dakota Chamber (GNDC) has unveiled the findings of its 2024 North Dakota Economics and Employer Survey, capturing snapshot perspectives of North Dakota’s business leaders on the state and national economic landscapes. The survey’s results underscore a strong confidence in North Dakota’s economy while highlighting challenges such as inflation, workforce shortages, and supply chain disruptions that impact businesses across the state.
 
Key Findings:

• Economic Success: 91% of businesses reported success in the past year, but 75% faced inflationary cost increases of 6-20%. Over half (58%) don’t expect inflation to normalize until 2026 or are uncertain about its timeline.
• Workforce Growth: 44% of businesses plan to expand their workforce, while 54% expect to maintain current levels. Yet, 70% struggle to hire employees, with apprenticeships and childcare support identified as areas for growth.
• Policy Needs: Labor availability remains the top concern, and 27% of respondents highlighted affordable healthcare as the most impactful support state government could provide. 

Driving Solutions:
GNDC President and CEO Arik Spencer emphasized the importance of proactive policies, stating, “A strong business climate doesn’t happen by accident or overnight. GNDC is committed to advocating for policies that enable businesses to thrive and grow North Dakota’s economy.”
 
This year’s survey saw increased participation, underscoring the need for a strong voice to rally for the ongoing focus on business climate, infrastructure, and workforce solutions. Survey responses were gathered in August and September, analyzed in the fall to inform GNDC’s policy development process, and shared with members as an infographic included in their holiday cards.
 
Full results and infographics are available at ndchamber.com.

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