Governor’s Council of Economic Advisors member David Chicoine tells WNAX that South Dakota probably won’t see the same explosive post-pandemic GDP growth as the nation as a whole because South Dakota didn’t see the same stunning pandemic dip in economic activity. According to the data Chicoine and the council heard from the Bureau of Finance and Management Wednesday, the pandemic drove South Dakota’s GDP down 1.7% in 2020 while hammering the national GDP down 3.5%. BFM guesstimates US GDP growth will be 6.7% this year and 4.7% next, while South Dakota will post GDP growth of 6.1% this year and 2.3% next.
Lagging the national economy appears to be standard for South Dakota. Take a look at the decade averages BFM reports:
Even with our perpetually larger percentage of the population working, South Dakota spent the last decade producing less economic growth, less nonfarm job growth, and less nonfarm income growth than the rest of the country.
South Dakota’s coming underperformance on GDP thus appears to be more than a statistical artifact of not sinking as much during the pandemic as the rest of the nation. It appears to be par for the course, an economic anemia that ought to alarm our leaders in Pierre.
Gosh South Dakotan’s, you will just have to work harder to please your Republican bosses. Lots of starvation jobs to fill, no more lollygagging around, take off those Ritterhouse shirts and get too it.
The South Dakota economy just keeps chugging along, steadily and better than any other state in the nation. News today that even the sad casinos in Deadwood outperformed all other casinos. In every sector South Dakota just keeps on winning.
Good lord grudz. Go back to grade school and retake that basic math education again. You are way out of whack in your reading of those3 numbers.
I’ve a resident of SD all my life and all this state has ever done is circle the drain. If it was not for the influx of federal dollar input compared to outgo of SD peoples’ federal taxes, we would have been flushed a long time ago.
Repubs love welfare when it benefits them.
cibvet is correct. South Dakota proves their theory of when you are living off welfare, you have no incentive to work to make lives better. We elect these lazy republican bums cycle after cycle. Take a look at their work history, not a one of them has ever done a day’s work in their lives, except when they hold their hands out to ALEC.
Like hamsters on a treadmill, we South Dakotans work work work and don’t get anywhere. Unless, you work for the government, then you really get the benefits.
Sen. Thune reads lies and then repeats to SD MAGA’s, in desperate need of something to cling to.
– By revoking the Keystone pipeline permit, Biden is destroying 11,000 jobs and roughly $2 billion in wages,” the Facebook post said. “Democrats couldn’t even get through Day 1 without killing jobs for middle class Americans.”
The post was flagged as part of Facebook’s efforts to combat false news and misinformation on its News Feed.
Let’s investigate, shall we?
https://a.msn.com/r/2/BB1d7mvK?m=en-us&referrerID=InAppShare
Grudz, you misunderstand. We are not chugging along better than any other state in the nation. We tend not to dip as far during recessions, but we don’t grow as fast during booms, and over the last decade, our average growth has been less than the national average. Less growth, lower wages—by no statistical measure can anyone conclude that South Dakota has a better economy than every other state in the Union.
Thune’s zombie-shillery for Keystone XL is not only boring and flat wrong, but it also symbolizes the fix South Dakota is in economically. As Cibvet attests from lifelong experience, our economic drags along, and we scrape by only by undertaxing and underfunding public goods, leaving our quality of life lagging behind the rest of the nation’s. We are thus so hard up that we will whore out our resources for really crappy deals. We feel like we can’t say no to extractive industries like Big Oil or big polluters like CAFOs. Our failure to drive lasting and diverse economic development leaves us subject to the predations of the worst businesses.
Bottom Feeders, that’s all the GOP thinks of anyof us but the top 10% or less! That’s why Moscow Mitch swears there will be NO messin’ with the Trump tax cut fir the rich!!!
In South Dakota, we don’t expect the uppermost income people to pay their fair share in taxes while we can convince those bottom 95% that we are the GOP saviors looking out for their best interest-always. Why, if we had them pay the same percentage in taxes that the bottom 20% pay we wouldn’t need all that federal teat money we been gettin’! They’d just send it somewhere’s else!
Grudz, DeSantis just made Florida wealthy with his 30 year Seminole plan. Of course it will also wreck peoples lives. So Dak has always refused to go along with gambling. Now hopefully I can put that 20 on Medvedev, who knows, miracles happen.
I see where Northern Mississippi has received full funding for Noem’s new airstrips and the lege is set to have the building start.