Economic Data for South Dakota

Gross Domestic Product

Real GDP (a measure of economic growth) increased from 2000-2017, going from $27 billion to $41.7 billion by 2017.

 

 

Jobs                                      

Private-sector employers have added 38,000 jobs since 2010, the national low point for private-sector employment. From 2017 to 2018 the private sector added 5,000 new jobs. There were 360,000 total jobs in the private sector in 2018, above the pre-recession peak of 335,000. Average hourly wages in the private sector have grown since 2008, going from $16.50/hr to $22.50/hr in 2018.

 

Manufacturing employment decreased during the recession but recovered since then. There were 45,000 jobs in this sector in 2018, above the 2008 high of 43,000. Average hourly wages of manufacturing employees have grown since 2001, going from $12/hr to $18.50/hr by 2018.

 

There were 13,800 jobs in the Transportation, Warehousing and Utilities sector in 2018, essentially the same as the pre-recession peak. The average wage in the Trade, Transportation and Utilities sector was $14.50/hr in 2008 and $21.50/hr in 2018.

 

Unemployment

The unemployment rate in 2018 is 3.3%, the same as the 2017. This is below the national average of 3.9% unemployment.

 

 

Housing

The House Price Index, a measure of the cost of housing, has been increasing since 2000 with a slight decline during the recession, but resumed growing after 2012, going from 200 to 380, showing an increase in housing costs.