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…
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…
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…
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 experienced positive and increasing net domestic migration,…
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…
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…
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…
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…
Mortgage rates, the ever-powerful forces shaping the dynamics of the US housing market, remain at the forefront of activity as we push into the latter half of 2023. The first half of the year has…
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…
