Employment

Hundreds of Layoffs coming to a major employer in Sioux Falls?

I heard last night from a source that a major employer in town is going to let the hammer drop soon. My source says maybe this coming week. And this isn’t just a handful of people, I was told hundreds.

That is all I am privy to say at this point, because I don’t have ALL the details. But this person said it will probably be worse than the Capital One layoffs. I have a feeling they will try to hide this from the media, but I think it’s going to be difficult.

At this point it is a rumor. Let’s hope I am wrong.

Working Poor w/2nd jobs are now called ‘Hustlers’

Gotta love the media, now people who ‘dare’ get a second job are ‘Hustlers’;

A recent survey from Bankrate shows that more than 44 million Americans now have what’s known as a side hustle.

The definition of ‘Hustler’;

an aggressively enterprising person; a go-getter OR a prostitute
So now people who need a second job to make ends meet are just considered ‘aggressive’ and ‘prostitutes’.
But here’s the reality folks, the South Dakota Department of Labor’s latest statistics from 2014 Census data show South Dakota had the highest percentage of people who work more than one job.
Why do you think that is? Let me sum this up for the SF Development Foundation, The SD Department of Labor, Mark Mickelson and Governor Daugaard – South Dakota’s full-time employment doesn’t pay SH*T! Get it?

Neel Kashkari, President Federal Reserve Bank of Minneapolis at Rotary

Neel spoke today at Rotary Club of Sioux Falls Downtown. He asked the audience to challenge him with tough questions.

He felt that if you are struggling finding workers or complaining about it, it is NOT that the workers don’t exist, but the wages are not high enough to attract them.

“If you’re not raising wages, you’re just whining.” (about finding enough workers)

I have consistently stood by the argument that when you pay your workers more, they spend more, which boosts the local economy, which in turn boosts the bottom line of your company. The middle class is more likely to spend more than they will invest or save if they make more, while the rich tend to put that money away where it doesn’t circulate as much.