Research & Analysis

The economic landscape is always changing. Understanding the short- and long-term trends that shape our economy is crucial for long-term success. Our experts track and analyze the most important trends and forces that shape the state and region and share their insights here.
Dive into our free analysis of trends and economic conditions in the region.
Labor Force - Q1-2024 Outlook Report
April 12, 2024

Is South Dakota’s Labor Market Back to “Normal”?

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…

Housing - Q1-2024 Outlook Report
April 12, 2024

Assessing Housing Dynamics in a Historic Market

Over the past four years, the US housing landscape has undergone a significant transformation, characterized by historic listing price growth, an escalating race for space, and dramatic concessions for emerging and existing buyers alike. With…

Tax Policy - Q1-2024 Outlook Report
April 12, 2024

What’s Driving Property Tax Changes in South Dakota?

In South Dakota, property taxes make up around 75% of local government tax revenue and about 25% of the overall state and local tax revenue (U.S. Census Bureau 2021 Annual Surveys of State and Local…

Population - Q1-2024 Outlook Report
April 12, 2024

New Insights into South Dakota’s Population Change

Domestic Migration Domestic migration is a key driver of population growth in South Dakota. As noted in last spring’s article on population change, South Dakota has largely experience positive and increasing net domestic migration,…

January 11, 2024

South Dakota’s Tax Base is Changing

South Dakota doesn’t have a personal or corporate income tax. Instead, the foundation of South Dakota’s public finance system rests heavily on sales and property taxes. This article delves into the intricacies of the sales…

October 25, 2023

Are South Dakotans Ready for Student Loan Payments to Resume?

In March of 2020, the US government initiated an interest-free payment pause on student loans under the Trump Administration. This sweeping policy action affected over 40 million borrowers who were no longer required to pay…

Wages & Income - Q2-2023 Outlook Report
September 6, 2023

Real Incomes and Hourly Earnings on the Rise

South Dakota’s personal income growth was strong in the first quarter of 2023, with its 5.1% inflation-adjusted annualized growth rate more than four times the national growth rate. Part of the rapid growth reflected a…

Macroeconomy - Q2-2023 Outlook Report
September 6, 2023

Momentum Holds but Economic Uncertainty Rising

Sometimes I like to think of the macroeconomy as an oceangoing container ship. There’s a lot of mass in those ships, a lot of momentum. The largest of these ships are nearly 450 yards long…

Labor Force - Q2-2023 Outlook Report
September 6, 2023

Labor Markets Continue to Run Hot

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…