Sioux Falls Is One of Four Cities in the United States Where Incomes Are Shrinking Fastest

What goes up, must come down.

It's the same with the economy and when it comes to money Sioux Falls is trending downward on a new list.

24/7 Wall St., using numbers from the latest U.S. Bureau of Economic Analysis has South Dakota's largest city fourth of a list of the ten cities where incomes are shrinking fastest.

Using the latest figures, Sioux Falls incomes ($57,955 per capita) are down 1.8 percent from 2017 compared to 2016 levels.

Overall, the Midwest didn't fare well at all. Sioux City, Iowa is one spot ahead of Sioux Falls, with Fargo and Bismarck, North Dakota also in the top eight.

American Cities With Fastest Shrinking Incomes (24/7 Wall St.)

1. Jacksonville, North Carolina (-3.5%)
2. Midland, Texas (-2.8%)
3. Sioux City, Iowa (-2.4%)
4. Sioux Falls, South Dakota (-1.8%)
5. Greeley, Colorado (-1.6%)
6. Fargo, North Dakota (-1.5%)
7. Champaign-Urbana, Illinois (-1.4%)
8. Bismarck, North Dakota (-1.2%)
9. Amarillo, Texas (-1.0%)
10. Tyler, Texas (-0.9%)

That drop in Sioux Falls incomes doesn't tell the complete story about the health of our local economy.

If you zoom out a bit you find that the per capita in Sioux Falls is actually up nine percent over five years, our unemployment rate is still one of the best in the country - 2.4 percent and the local poverty rate is the fourth-lowest in America.