Trump, tariffs driving rural economy into the shitter: Goss

Creighton University's Ernie Goss follows the economies of nine midwestern states including South Dakota's. That state recorded a 20.4% loss in exports in June (the worst in the region) in a regional manufacturing economy that's down nearly 10,000 jobs and first-time claims for unemployment insurance are on the rise.

For the 13th time in the past 14 months, farmland prices slumped below growth neutral. The farm equipment sales index slumped to a very weak 22.7 from 23.9 in May. The June loan volume index declined to 73.1 from 75.0 in May. The checking deposit index fell to 40.4 from May’s 45.8. The index for certificates of deposits (CDs) and other savings instruments dropped to 50.2 from 60.4 in May. Rural bankers remain pessimistic about economic growth for their area over the next six months.  [Mid-American Economy]

AEI/Brookings study finds Trump II immigration policy will reduce GDP growth by 0.3–0.4 %age points in 2025, put significant downward pressure on growth in labor force and employment. Monthly payroll employment growth could be near zero or negative in the next few years. www.aei.org/research-pro...

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— Catherine Rampell (@crampell.bsky.social) July 2, 2025 at 7:26 AM