Sioux Falls
at the margin.

## Labor Market Conditions — Sioux Falls

The Sioux Falls labor market is in equilibrium, holding steady with no strong push in either direction. Employment grew just 0.17% over the past year — essentially flat — and the pace of that growth is holding steady rather than building or fading. This is a market that has found a plateau.

The unemployment rate rose 43.75% year-over-year, which in a historically tight market like Sioux Falls reflects a return toward more normal conditions rather than any sign of distress. The metro has run at unusually low unemployment for years, so even a meaningful percentage increase in the rate still leaves the overall level well within a healthy range. Neither the employment nor the unemployment trend signals stress — this looks more like a soft landing after a period of exceptional tightness (Fig. 1).