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Confidence is key in explaining Sioux Falls great jobless rate

Downtown Sioux Falls, SD
Downtown Sioux Falls, SD

Sioux Falls, SD (KELO-AM) Confidence is what it is all about says Sioux Falls mayor Mike Huether, reacting to the city's unemployment rate dropping to 2.9 percent. That is the lowest jobless rate since 2008. Huether tells KELO-AM that all sectors of the city economy are confident and he believes the momentum will continue.

The unemployment rate for South Dakota was 3.7 percent, second best in the country behind energy-booming North Dakota.

Some economists say that a low jobless rate can be too much of a good thing, in that companies thinking about moving to Sioux Falls might worry about having enough people to hire. Mayor Huether does not think that applies here. For example, he says, when Costco came to town it had thousands of people waiting in line for hundreds of jobs.