Workers in the private sector saw their average hourly earnings fall by $0.75 from December 2021 to December 2022 when controlling for inflation, according to recently released data from the Bureau of Labor Statistics (Current…
Looking back to our first issue in late 2022, we saw the national and state economies gaining strength and confidence, though the heady days of 2021 were unlikely to return soon. The newest data from…
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…
While decades-high inflation has impacted almost every sector of the US economy, its most apparent effects are reflected in housing markets. South Dakota is no exception to this national trend in increased housing prices. In…
South Dakota real (inflation-adjusted) personal income is trending downward in 2022 after growing each year between 2017 and 2021. While the state experienced growth in the first quarter of 2022, the inability to keep up…
On November 3, 2022 the Federal Reserve announced another 75 basis point hike in the Federal Funds rate (the overnight interest rate on interbank loans), raising its target from 3.25% to 4.00%. The Fed is…
