SIOUX FALLS, SD (KELO.com) — Unemployment has moved slightly higher in Sioux Falls. Until recently, the rate was below 2 percent, which is below the state-wide average. Now, it’s at 2.5%, which is about equal to the statewide rate, but still well below the national rate of 4.7%.
City Finance Officer Shawn Pritchett says the slightly higher rate may actually be a good thing, “We still have 2.3 jobs for everyone that’s unemployed in this community, but that is dramatically below what we saw going back to January of 2022. And I would argue that this is probably a healthier thing to see happen for our community too, and hopefully provide some relief to the businesses that are looking to hire.”
On another front, sales tax receipts are running higher than they were a year ago. Pritchett says that could change going forward, but overall he’s optimistic the city’s economy is gaining strength.
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