Over 12-thousand Manufacturing jobs have been lost in middle America according to Creighton University’s monthly Mid-America Index.
The index shows the manufacturing economy slowing down, while inflation begins to rise in response to tariffs.
Creighton Economist Dr. Ernie Goss says that puts the Federal Reserve Board in a tough spot on deciding future interest rates.
South Dakota’s Manufacturing sector slumped in May, with manufacturing exports dropping by nearly 18-percent from last year’s numbers.
That’s on par with what’s happening throughout the region.
Creighton University’s Mid-America Index shows over 12-thousand manufacturing jobs lost.
Creighton economist Dr. Ernie Goss says tariffs are behind the negative numbers.
As a result of the slump, Goss expects the Federal Reserve to cut short-term interest rates later this month.