City of Sioux Falls economic and budget report is positive, inflation is on the rise By Todd Epp Jul 20, 2021 | 5:58 PM SIOUX FALLS, S.D. (KELO.com) — The Sioux Falls economy is doing well, particularly compared to last year during the pandemic. However, officials are keeping an eye on inflation. City finance director Shawn Pritchett told City Counselors at Tuesday afternoon’s Informational Meeting that the city’s labor market is growing slowly. The labor force is up 8% over last year. Unemployment is at 2.5%, which is half a point less than the state rate. Pritchett says the June inflation rate was 5.4%, an increase from May’s rate of 5%.