NRS hosting 50-year event

Northwest River Supplies, based in Moscow, is hosting a block party and sale on Saturday to celebrate 50 years of business.

Founded in 1972, NRS has become a giant in the rafting community.

It was founded by Bill Parks, who joined the University of Idaho College of Business and Economics that same year, according to a company release.

NRS has grown from a mail-order business operated in Parks’ garage to a global outdoor brand and prominent employer in the region.

The event Saturday will be held at 1638 S. Blaine St. in Moscow. It starts from 9 a.m. to 5 p.m. with food and live music.

“After five decades on the Palouse, there are a lot of people in the region to thank,” said Mark Deming, NRS chief marketing officer. “We hope they’ll all join us for the party.”

National jobless falls second week

Applications for U.S. unemployment insurance fell for the second week, suggesting that employers are holding on to workers despite growing economic uncertainty.

Initial unemployment claims decreased by 2,000 to 243,000 in the week ended Aug. 20, Labor Department data showed Thursday.

The median estimate in a Bloomberg survey of economists called for 252,000 new applications.

Continuing claims for state benefits fell to 1.42 million in the week ended Aug. 13.

The decline in jobless claims points to still-robust labor demand as companies try to attract and retain employees amid lingering worker shortages.

Even so, some employers, particularly those in the technology sector, have been laying off staff or freezing hiring, which could continue in the coming months as the Federal Reserve raises interest rates to curb demand and tame inflation.

On an unadjusted basis, initial claims declined to about 184,000 last week.

New Jersey, Indiana and California had the largest declines in initial claims, while Massachusetts posted an outsized increase.

The four-week moving average, which smoothes out volatile week-to-week moves, rose slightly to 247,000.

From staff and wire reports