Over the last decade, South Dakota has demonstrated impressive resilience and steady workforce growth, with the state’s nonfarm workforce reaching 468,200 by July 2024. Specifically, the average annual growth rate between 1991 and 2023 for…
Between February 2020 and March 2020, South Dakota lost 44 thousand employees, making up 10% of the total nonfarm workforce. This extreme labor shock sent ripples through the economy, and many wondered whether we would…
The labor market outlook continues to defy gravity. In our last issue, we shared how national and state labor markets generally outperformed expectations. We also discussed historic data revisions that indicated labor markets were healthier…
This issue of the Dakota Outlook introduces two substantial revisions that affect data previously reported in the forecast table. The first revision reflects a change in our reporting practices, while the second stems from data…
The US labor market has spent most of 2022 ignoring any warnings about economic slowdowns. Employment growth and job creation have been at multi-decade highs through much of the post-pandemic period, and labor markets remained…
