SIOUX FALLS, S.D. (AP) — South Dakota Gov. Kristi Noem announces the state ended its fiscal year with a $19 million surplus despite revenue coming up shorter than expected.
The coronavirus pandemic caused state revenues to fall short of what was estimated by almost $8 million. But the state also spent less than what was budgeted, resulting in the surplus.
Some economic signs indicate the state is ready to weather the economic downturn from the pandemic, but recent gains in the job market have also stalled. Unemployment claims for the week ending July 11 were up by 325 from the previous week.
The Republican governor has touted her hands-off approach to the pandemic, saying it shows that South Dakota is a business-friendly state.