South Dakota’s Unusually Strong Housing Market
On September 18, 2024, the US Federal Reserve (FED) announced it was lowering the Federal Funds target rate by half a percent (0.50% or 50 basis points). The current target range for the Federal Funds…
Dive into our free analysis of trends and economic conditions in the region.
viewing: Research and Analysis
Which Industries are Driving Job Growth
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…
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…
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…
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…
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 experienced positive and increasing net domestic migration,…
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…
Regional
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…
Regional
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…
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…
