Economies of South Dakota and other midwest Trump states trending downward

Source: WalletHub

South Dakota is at full employment so expect inflation to claw higher in the coming months since the state has dropped to 48th in innovation potential, 45th in economic activity, 41st in overall economic ranking, 50th in share of technology companies and is still 47th in R&D spending per capita according to WalletHub. 

Creighton University's Ernie Goss follows the economies of nine midwestern states including South Dakota's. He reports that the region's supply managers remain pessimistic with forty two percent expecting slower economic growth for the remainder of 2024, 33% suffered job losses and for the fifth straight month the region's employment index dropped below growth neutral. South Dakota’s manufacturing sector lost jobs at a rate of 1.3%.

“Finding and hiring qualified workers remains an issue and that’s true in South Dakota with the unemployment rate being about half what the national number is. And in South Dakota you’ve got also the issues of higher interest rates, which is affecting a very important industry in South Dakota which is banking and finance. That industry is being negatively affected by higher interest rates and it's spilling over into the manufacturing sector in our survey,” Goss said. [Bill Janklow's idea of public radio]

South Korea-based Schwan's says it has plans to construct a 700,000-square-foot Asian food production facility at Foundation Park in Sioux Falls with a promise to hire some six hundred employees likely from an imaginary workforce. The company gives over twice as much campaign dough to Earth haters including to former Representative Kristi Noem in 2014 and to Rep. Howdy Doody Dusty Johnson who got $4000 in 2020 and $5000 in 2022.