South Dakota Unemployment Fund in Peril | Sioux Falls News

Sioux Falls News Today | 2 Min News | The Daily News Now! · Aug 17, 2026 · 1m

South Dakota business leaders are sounding the alarm over looming reemployment tax hikes, warning that the state’s unemployment trust fund is dangerously low — a direct result of last year’s tax cuts that saved employers but drained vital revenue. With weekly unemployment benefits rising and inflation mounting, officials fear the fund could hit a critical threshold, forcing automatic tax increases. While Labor Secretary remains cautious about declaring a crisis, she’s agreed to another council meeting before July 1 to lay out the financial risks — urging lawmakers to prepare ahead of next…