Facing tomorrow's challenges: Workforce 2025 · Facing tomorrow's challenges: Workforce 2025 The...

Facing tomorrow's challenges: Workforce 2025

The U.S. is growing older, and so is its labor force. The labor force--the number of people working or looking for work--is a dynamic concept that demonstrates the net impact of all demographic, social, political, and historical forces affecting a population. The growth of the labor force is one of the main ingredients of economic growth and prosperity.

This being said, the U.S. will face critical shortages of qualified workers as many older workers start to retire. The increase in older workers is a result of the post World War II baby boom generation--people born between 1946 and 1964. These baby boomers represent a sizeable portion of the labor force and will have a significant impact on labor economics as more and more of them become eligible for retirement.

An article published by the U.S. Bureau of Labor statistics entitled A Century of Change; the U.S. Labor Force, 1950-2050 examines the history of our nation's labor force. The effects of the massive demographic changes that occurred within the U.S. population over the latter part of the 20th century are serving as the catalyst for more dramatic changes in the first half of the 21st century. Historical labor force data from 1950, along with projected levels to 2050 show a change in both growth rates of the population and labor force participation rates. The U.S. has a steadily growing labor force that, compared with 1950, is today older, more diversified, and increasingly made up of women. The same forces that have influenced the size and composition of the U.S. labor force over the past 50 years are expected to shape the future of the workforce as well. Some of the key findings stemming from research upon which the article was based are as follows:

Slowdown in growth of the labor force. The high growth rate of the civilian labor force from 1950-2000 will be replaced by much lower growth rates in the next 50 years.

Changes in gender structure of the labor force. Women in the labor force increased their numbers at an extremely rapid pace from 1950-2000. It is anticipated the percent growth of females in the labor force will slow markedly in the next 50 years. The factor most responsible for the earlier high growth rate was the rapid increase in the labor force participation rate of women, which stood at 34 percent in 1950 and increased to 60 percent by 2000. The number of women in the labor force rose from 18 million in 1950 to 66 million in 2000, an annual growth rate of 2.6 percent. The number of working women is projected to reach 92 million by 2050 on the basis of a projected annual growth rate of 0.7 percent.

September 2008

Labor Market Information Center South Dakota Department of Labor

South Dakota e-Labor Bulletin September 2008

of 24

Changes in the age structure of the labor force. With the aging of the baby-boom generation, the older age cohorts are expected to make up a larger proportion of the labor force in the next two decades. The55-and-older age group, which made up 13 percent of the labor force in 2000, is projected to increase to 20 percent by 2020. It is anticipated by 2050 the group will make up 19 percent of the labor force. Changes in the racial and ethnic composition of the labor force. The labor force is expected to become more diverse. With higher population growth and increasing participation rates, the share of minorities in the workforce is projected to expand substantially. The share of white non-Hispanics is anticipated to decrease from 73 percent in 2000 to 53 percent in 2050. Over the same period, Hispanics are expected to more than double their share, from 11 percent in 2000 to 24 percent of the labor force in 2050. Blacks also are expected to increase their share, from 12 percent in 2000 to 14 percent in 2050. Asians, the fastest-growing group in the labor force, are projected to increase their share from five percent to 11 percent between 2000 and 2050.

South Dakota will not be immune to the drastic labor force changes projected to occur. Based on population projections published by the U.S. Census Bureau in 2005, South Dakota's total population is expected to grow at a slow but steady rate. The chart below shows our state is expected to decrease its population in the younger age groups but gain population in the older age groups.

The projected diverging trends in South Dakota between the young and older population groups are expected to become more dramatic through the year 2030. The chart below details the projected numerical change in the population groups from 2000 through the year 2030.


of 24

Although changes in the younger age groups do not seem too drastic, it is evident the younger age groups are expected to decline as the older age groups are expected to increase. The chart below, which details the expected percent change in population growth for both the U.S. and South Dakota, shows the age group 65 years and older is expected to increase 71 percent in South Dakota from the year 2000 through 2030.


of 24

The growth rate of 71 percent is quite high, but when compared to the growth rate of 104 percent for the U.S., it is a bit more conservative. However, although the U.S. has a higher rate of growth in the older age groups, the nation is still expected to have growth in all age groups, whereas South Dakota is expected to see declines in the younger age groups.

These population demographics project a 'dramatic downward shift in the availability of potential workers relative to persons outside the normal working age.' This means there will be fewer residents of working age compared to those too young to be in the labor force and older residents who have left the labor force.

Economic dependency ratios statistically reflect this change in demographics, comparing the ratio of the combined youth population (under age 20) and the older population (age 65 years and older) per 100 people age 20-64 (people of labor force age).

An economic dependency ratio of 80.1 means that for every 100 persons in the labor force, there are approximately 80 persons not in the labor force. The example below shows the economic dependency ratios for both the U.S. and South Dakota. For both the U.S. and South Dakota, the ratios are increasing with South Dakota's expected to grow at a faster rate.

Economic Dependency Ratios

South Dakota United States

2000 2030 Change 2000 2030 Change

80.1 100.6 20.6 69.6 84.5 15.0


of 24

Ratios are also developed specific to the youth (under 20 years) and old age (65 years and older) population groups. The youth dependency ratio represents the number of persons less than 20 years of age per 100 people age 20-64. For both the U.S. and South Dakota, the youth ratio is expected to remain relatively stable through the year 2030.

The old age dependency ratio represents the number of people age 65 years and older per 100 people age 20-64 years of age. The table below shows this dependency ratio is expected to have a higher rate of growth in South Dakota compared to the U.S.

With the workforce opportunities that will be available, many workers may put off retiring, or retire from their lifetime career and seek new career opportunities in the labor force. Research suggests maturing workers will have the ability and the desire to work productively and innovatively well beyond today's normal retirement age. In coming years, more Americans reaching their 60s and 70s are going to want to work, at least part time.

The expression "phased retirement" is becoming a more commonly heard; some companies are being creative and flexible in developing ways to phase employees into retirement--giving them time to explore opportunities and interests before retiring. For example, some employers will allow a worker to reduce the days or hours worked per week or telecommute. Others have even arranged for employees to perform consultant duties or to be available to work on special projects after they retire.

Other flexible plans to retain the mature worker will likely emerge, especially since the projected changes in South Dakota's labor force are colliding with great potential for economic growth in our state. There have been many recent economic developments in South Dakota, with more in the works. Growth in the healthcare field, along with the development of alternative energy sources, including wind and ethanol, has added hundreds of jobs to the South Dakota economy. Pending projects, including the Deep Underground Science and Engineering Laboratory (DUSEL) and the Hyperion Energy Center, have the potential to add a high number of additional jobs.

In light of a decreasing labor force and the potential for hundreds of more jobs, what can employers do to attract and retain workers? They can take advantage of the Workforce 2025 initiative. The mission of Workforce 2025 is to ensure South Dakota has a competent and qualified workforce to allow for economic growth and expansion. Five programs were developed as a part of Workforce 2025: Live Dakota, Dakota Seeds, Dakota Roots, Grow Dakota and Build Dakota.

Youth Dependency Ratios


2000 2030 Change 2000 2030 Change

54.3 54.2 0.0 48.5 48.3 -0.2

Old Age Dependency Ratio


2000 2030 Change 2000 2030 Change

25.8 46.4 20.6 21.1 36.3 15.2


of 24

Live Dakota is an effort to retain current South Dakotans in our workforce. As an employer posts jobs with the Department of Labor, they are included in the job database SDWORKS which feeds the Live Dakota website. These jobs will be promoted to South Dakotans, specifically targeting Generation Y. (See related Labor Bulletin article on "Generations in the Workplace.")

Dakota Seeds is an effort to increase the number of internships in South Dakota. Thisprogram is focused on creating 1,000 new internships in the science, technology, engineering and math fields by the 2011 school year.

Dakota Roots is an effort to recruit individuals and businesses to South Dakota, especially those who hailed from South Dakota originally. As of August 2008, over 2,600 people registered with Dakota Roots say they would move back to South Dakota given the right career opportunity. By listing job orders with the Department of Labor, employers can be connected to quality applicants. If a business becomes a partner, the business logo and website will be featured on the Business Partners webpage.

Grow Dakota is preparing students for tomorrow's workforce and providing teachers and principals a vision for the 21st century high school.

Build Dakota is developing solutions to immediate, intermediate and long-term workforce challenges facing industries statewide including healthcare, manufacturing, financial services and construction trades.

With the slowdown in labor force growth and the looming retirement of the baby boomers, the competition for workers will be tough in South Dakota and across the nation. Although the Census Bureau anticipates more immigration in the coming years in response to the aging workforce and corresponding workforce opportunities, now is the time to encourage friends and relatives to come to and remain into South Dakota to live, grow and build.

Overview of the Labor Market in August

Labor Supply

The number of South Dakotans who would be available to staff a new or expanding business, or South Dakota's labor supply, was estimated at 69,610 in August. Included in this labor supply are those who currently hold jobs (and would like to change) and those who, for a variety of reasons, do not have jobs. (See related data.)

Labor Force

South Dakota's labor force of 445,200 in August was up from July. There were 14,700 unemployed in August, with an unemployment rate of 3.3 percent, up from July's 3.0 percent. (See related data.)


of 24

South Dakota Nonfarm Wage & Salaried Workers by Industry

This data is not seasonally adjusted.

Over-the-month comparisons

Based on a monthly survey of South Dakota establishments where employment data is collected for the pay periods that occur during the 12th of the month, preliminary estimates show total nonfarm wage and salaried workers increased by 3,200 workers (or 0.8 percent) from July 2008 to August 2008. (See related data.) The mostly seasonal gain is within historical patterns derived from previous July to August employment level changes and is one of the better gains on record. (See related historical data.)

Private service-providing industries created the overwhelming majority of the over-the-month growth as county fairs, regional fairs, the state fair and the Sturgis motorcycle rally increased demand for services. The leisure and hospitality industry showed the largest private gain with a 1,600 worker (or 3.4 percent) increase. Retail trade contributed an additional 400 workers (or 0.8 percent), hiring as seasonal events demanded more of their services. The boost that helped make the July 2008 to August 2008 one of the better worker gains on record was the non-seasonal increases. Healthcare and social services increased by 500 workers (or 0.9 percent) as medical facilities continue to expand, and professional and business services grew by 300 workers (or 1.0 percent) as other businesses expand to the point they need the services professional and business services businesses provide.

Over-the-year comparisons

Based on a monthly survey of South Dakota establishments, preliminary estimates show total nonfarm wage and salaried workers increased by 6,300 employees (or 1.5 percent) from August 2007 to August 2008. The 1.5 percent growth is the second month in a row of increasing over-the-year growth. Unfortunately, national total nonfarm estimates officially show the nation went to a negative over-the-year worker trend in June, which continued in July and became even more noticeable in August 2008. (Click here for national estimates.)

It is interesting to note the construction, manufacturing and financial activities industries at the national level are showing a decline in the number of jobs, while the same industries in South Dakota are producing some of the strongest over-the-year job growth. This contrast brings to light that South Dakota has some well managed and efficient business operations, combined with productive workers and a pro-active business environment.

Natural resources, mining and construction grew by 400 workers (or 1.5 percent). According to the U.S. Census Bureau, South Dakota’s new housing permits are down this year as mortgage rates in general moved upward through August 2008. (September 2008 mortgage rates dropped when the federal government rescued Fannie Mae and Freddie Mac.) So it is probable worker growth is coming from increased new business building, mining expansions, and business and home improvements. South Dakota is fortunate its better paying industries are still expanding and hiring more people, which is allowing more spending by certain businesses and consumers on construction projects.

Manufacturing showed its eighth consecutive month of over-the-year growth by producing an August 2007 to August 2008 worker gain of 1,800 workers (or 4.3 percent). With even more planned large manufacturing businesses coming on-line in the future, the industry is looking good overall. An in-depth analysis by the Federal Reserve Bank of Minneapolis shows surveyed manufacturers in South Dakota are expecting solid growth in 2008, despite a slowing national economy. (See the survey.)


of 24

Worker levels in the financial activities industry grew by 700 workers (or 2.2 percent) over the year. In the 1990s, financial activities was one of South Dakota’s fastest growing industries. The growth was a result of banking reform laws which eased competition restrictions while allowing institutions to expand their financial services. During the 1990s and into 2001, the industry enjoyed over a 60 percent increase in workers. As with most rapidly expanding industries, major mergers and reorganizations started taking place, which basically stagnated or decreased worker growth from 2002 to 2004. From 2004 to date, South Dakota financial activities have been growing. The current national financial crisis has not affected South Dakota financial activities to near the degree as many other states. South Dakota financial activity businesses apparently were much more cautious on their loaning procedures, and the businesses have not suffered from non-collectable loans to near the degree as national financial activity businesses.

Professional and business services added 900 workers (or 3.2 percent), which is good news, as it indicates other industries are still expanding to the point they need additional help from professional and business services.

The healthcare and social services industry produced an increase of 1,800 workers (or 3.3 percent) over the year. South Dakota healthcare worker numbers have increased every year since the specific data was first recorded in 1972.

Nonfarm Wage and Salaried Workers in the Metropolitan Statistical Areas

Rapid City MSA

Based on preliminary estimates from the monthly survey of Rapid City MSA establishments, the total nonfarm wage and salaried worker count from July 2008 to August 2008 increased by 1,700 workers (or 2.7 percent). The seasonal gain is within historical patterns derived from previous July to August employment level changes and was made up entirely by non-government businesses. (See related data.).

From August 2007 to August 2008, the Rapid City MSA nonfarm wage and salaried worker levels increased by 1,100 employees (or 1.7 percent). The positive over-the-year change was made up by a strong August 2008 growth which, compared to the August 2007 employment level, was slightly weaker than expected. (See related historical data.)

Sioux Falls MSA

Based on preliminary estimates from the monthly survey of Sioux Falls MSA establishments, the total nonfarm wage and salaried worker count from July 2008 to August 2008 increased by 600 workers (or 0.4 percent). See related data.) The seasonal gain is within historical patterns derived from previous July to August employment level changes and was made up entirely by non-government businesses.

From August 2007 to August 2008, the Sioux Falls MSA had a 2,700 (or 2.0 percent) nonfarm wage and salaried worker increase. (See related historical data.)


of 24

South Dakota Nonfarm Worker Levels

Industries August 2008 July 2008

August 2007

% Chg Last Month

% ChgLast Year

TOTAL 421,800 418,600 415,500 0.8 1.5Total Private 348,600 345,600 342,400 0.9 1.8Goods Producing 70,000 70,200 67,800 -0.3 3.2Service Providing 351,800 348,400 347,700 1.0 1.2Private Service Providing 278,600 275,400 274,600 1.2 1.5Natural Resources/Mining/Construction 26,400 26,600 26,000 -0.8 1.5Manufacturing 43,600 43,600 41,800 0.0 4.3Trade Trans/Util 83,200 82,600 83,000 0.7 0.2 Wholesale Trade 18,800 18,700 18,800 0.5 0.0 Retail Trade 51,200 50,800 51,200 0.8 0.0 Trans/Warehsing/Util 13,200 13,100 13,000 0.8 1.5Information 7,100 7,100 7,300 0.0 -2.7Financial Activities 31,900 31,800 31,200 0.3 2.2Prof Bus Services 29,300 29,000 28,400 1.0 3.2 Educational Services 6,000 5,900 5,900 1.7 1.7 Hlth Care/Soc Assist 55,800 55,300 54,000 0.9 3.3Leisure/Hospitality 49,300 47,700 48,700 3.4 1.2Other Services 16,000 16,000 16,100 0.0 -0.6Government 73,200 73,000 73,100 0.3 0.1 Federal 11,300 11,300 11,300 0.0 0.0 State 16,900 16,400 17,000 3.0 -0.6 Local 45,000 45,300 44,800 -0.7 0.4 2008 data is preliminary and subject to revision. Data may not sum to totals because of rounding.Produced in cooperation with the US Bureau of Labor Statistics.


of 24

Rapid City Metropolitan Statistical Area Nonfarm Worker Levels

Industries August 2008 July 2008 August 2007

% Chg Last Month

% ChgLast Year

Rapid City MSA Total 65,800 64,100 64,700 2.7 1.7Total Private 57,000 54,700 56,000 4.2 1.8Goods Producing 8,800 8,800 8,900 0.0 -1.1Service-Providing 57,000 55,300 55,800 3.1 2.2Private Service Providing 48,200 45,900 47,100 5.0 2.3Natural Resources/Mining/Construction 5,500 5,600 5,400 -1.8 1.9Manufacturing 3,300 3,200 3,500 3.1 -5.7Trade/Transportation/Utilities 13,900 13,500 13,900 3.0 0.0Wholesale Trade 2,100 2,100 2,200 0.0 -4.5Retail Trade 9,600 9,200 9,600 4.3 0.0Transportation/Warehousing/Utilities 2,200 2,200 2,100 0.0 4.8Information 1,100 1,100 1,100 0.0 0.0Financial Activities 4,000 4,000 3,800 0.0 5.3Professional/Business Services 5,000 4,900 4,700 2.0 6.4Educational/Health Services 9,500 9,400 9,200 1.1 3.3Leisure/Hospitality 11,900 10,200 11,600 16.7 2.6Other Services 2,800 2,800 2,800 0.0 0.0Government 8,800 9,400 8,700 -6.4 1.1

2008 data is preliminary and subject to revision. Data may not sum to totals because of rounding.The Sioux Falls MSA includes the following counties: Lincoln, McCook, Minnehaha and Turner.Produced in cooperation with the US Bureau of Labor Statistics.


of 24

Sioux Falls Metropolitan Statistical Area Nonfarm Worker Levels

Industries August 2008 July 2008 August 2007

% Chg Last Month

% ChgLast Year

Sioux Falls MSA Total 137,200 136,600 134,500 0.4 2.0Total Private 126,100 125,300 123,500 0.6 2.1Goods Producing 21,800 21,800 21,600 0.0 0.9Service-Providing 115,400 114,800 112,900 0.5 2.2Private Service Providing 104,300 103,500 101,900 0.8 2.4Natural Resources/Mining/Construction 8,500 8,500 8,600 0.0 -1.2Manufacturing 13,300 13,300 13,000 0.0 2.3Trade/Transportation/Utilities 28,900 28,900 28,800 0.0 0.3Wholesale Trade 7,000 6,900 6,900 1.4 1.4Retail Trade 16,700 16,800 16,800 -0.6 -0.6Transportation/Warehousing/Utilities 5,200 5,200 5,100 0.0 2.0Information 3,200 3,200 3,200 0.0 0.0Financial Activities 17,200 17,200 16,800 0.0 2.4Professional/Business Services 11,700 11,600 11,300 0.9 3.5Educational/Health Services 24,800 24,300 23,500 2.1 5.5Leisure/Hospitality 13,800 13,600 13,700 1.5 0.7Other Services 4,700 4,700 4,600 0.0 2.2Government 11,100 11,300 11,000 -1.8 0.9

2008 data is preliminary and subject to revision. Data may not sum to totals because of rounding.County nonfarm wage and salaried worker levels by industry are no longer available.Produced in cooperation with the US Bureau of Labor Statistics.


of 24

South Dakota Statistical Areas Nonfarm Worker Levels

Areas August 2008 August 2007Aberdeen MiSA 22,875 22,610Brookings MiSA 19,220 18,670Huron MiSA 8,910 8,460Mitchell MiSA 13,630 13,430Pierre MiSA 12,440 12,335Spearfish MiSA 12,875 12,600Vermillion MiSA 6,620 6,745Watertown MiSA 18,840 18,830Yankton MiSA 13,710 13,665Rapid City MSA 65,800 64,700Sioux Falls MSA 137,200 134,500Dewey-Ziebach LMA 2,230 2,280Aurora County 780 770Bennett County 850 920Bon Homme County 1,920 1,980Brule County 2,370 2,360Buffalo County 485 515Butte County 2,895 2,810Campbell County 435 445Charles Mix County 3,530 3,570Clark County 950 960Corson County 865 845Custer County 3,320 3,220Day County 2,135 2,110Deuel County 1,710 1,685Douglas County 1,150 1,135Fall River County 2,935 2,920Faulk County 565 550Grant County 3,950 3,880Gregory County 1,585 1,580Haakon County 765 770Hand County 1,310 1,295Harding County 425 405Hutchinson County 2,760 2,780Hyde County 560 565Jackson County 920 910Jerauld County 1,505 1,425Jones County 575 575Kingsbury County 1,820 1,800Lake County 5,005 5,025Lyman County 1,670 1,655McPherson County 685 645Marshall County 1,505 1,455Mellette County 365 360Miner County 865 830Moody County 2,335 2,410Perkins County 1,235 1,260


of 24

Potter County 925 910Roberts County 3,750 3,670Sanborn County 775 805Shannon County 4,065 3,985Spink County 2,440 2,375Sully County 515 530Todd County 3,115 3,185Tripp County 2,290 2,330Union County 10,365 10,005Walworth County 2,475 2,460

2008 data is preliminary and subject to revision. Data may not sum to totals because of rounding.County nonfarm wage and salaried worker levels by industry are no longer available.The Sioux Falls MSA includes the following counties: Lincoln, McCook, Minnehaha and Turner.


of 24

South Dakota Labor Supply

August 2008

South Dakota 69,610 Hanson County 125Rapid City MSA 11,500 Harding County 70Sioux Falls MSA 19,975 Hughes County 1,460Aurora County 135 Hutchinson County 360Beadle County 1,285 Hyde County 85Bennett County 380 Jackson County 280Bon Homme County 360 Jerauld County 140Brookings County 2,935 Jones County 95Brown County 3,105 Kingsbury County 280Brule County 325 Lake County 690Buffalo County 355 Lawrence County 2,330Butte County 515 Lyman County 410Campbell County 60 McPherson County 125Charles Mix County 725 Marshall County 245Clark County 180 Mellette County 155Clay County 1,380 Miner County 120Codington County 2,435 Moody County 445Corson County 365 Perkins County 170Custer County 510 Potter County 135Davison County 1,925 Roberts County 885Day County 380 Sanborn County 115Deuel County 240 Shannon County 2,150Dewey County 905 Spink County 380Douglas County 150 Stanley County 215Edmunds County 190 Sully County 80Fall River County 540 Todd County 1,135Faulk County 105 Tripp County 365Grant County 490 Union County 1,755Gregory County 240 Walworth County 410Haakon County 100 Yankton County 1,850Hamlin County 315 Ziebach County 265Hand County 180


of 24

United States & South Dakota Seasonally Adjusted Labor Force

August 2008*

August 2007

Areas Labor Force Employment Unemployment Rate Labor Force Employment Unemployment RateUnited States 154,853,000 145,477,000 9,376,000 6.1% 152,886,000 145,753,000 7,133,300 4.7%South Dakota 445,200 430,500 14,700 3.3% 444,000 431,200 12,800 2.9%

Estimates for 2000 to 2007 have been recently updated.Produced in cooperation with the US Bureau of Labor Statistics.


of 24

South Dakota & Counties Not Seasonally Adjusted Labor Force

August 2008

August 2007

Areas Labor Force Employment Unemployment Rate Labor Force Employment Unemployment RateSOUTH DAKOTA 452,265 438,210 14,055 3.1 448,345 436,195 12,150 2.7Aurora County 1,485 1,445 40 2.7 1,455 1,420 35 2.5Beadle County 9,960 9,740 220 2.2 9,490 9,275 215 2.3Bennett County 1,370 1,300 70 5.0 1,455 1,400 55 3.8Bon Homme County 3,100 2,990 110 3.6 3,085 2,970 115 3.8Brookings County 19,465 18,965 500 2.6 18,985 18,570 415 2.2Brown County 21,195 20,695 500 2.4 21,060 20,600 460 2.2Brule County 2,890 2,815 75 2.6 2,760 2,690 70 2.5Buffalo County 500 435 65 13.0 495 455 40 8.1Butte County 5,455 5,310 145 2.6 5,430 5,300 130 2.4Campbell County 830 810 20 2.4 825 805 20 2.7Charles Mix County 4,115 3,955 160 3.9 4,140 3,995 145 3.5Clark County 1,905 1,830 75 3.9 1,875 1,815 60 3.1Clay County 7,155 6,940 215 3.0 7,165 6,990 175 2.5Codington County 17,090 16,625 465 2.7 17,170 16,790 380 2.2Corson County 1,365 1,260 105 7.8 1,380 1,275 105 7.7Custer County 5,640 5,520 120 2.1 5,520 5,405 115 2.1Davison County 11,505 11,240 265 2.3 11,205 10,955 250 2.2Day County 2,955 2,835 120 4.0 2,885 2,770 115 4.1Deuel County 2,755 2,685 70 2.5 2,755 2,690 65 2.3Dewey County 2,645 2,130 515 19.5 2,720 2,275 445 16.3Douglas County 1,755 1,715 40 2.3 1,675 1,635 40 2.3Edmunds County 2,115 2,060 55 2.6 2,105 2,050 55 2.5Fall River County 3,925 3,800 125 3.2 3,950 3,830 120 3.0Faulk County 1,125 1,090 35 3.2 1,065 1,030 35 3.5Grant County 4,295 4,175 120 2.8 4,245 4,135 110 2.5Gregory County 2,455 2,375 80 3.3 2,325 2,260 65 2.8Haakon County 1,175 1,150 25 2.3 1,130 1,105 25 2.1Hamlin County 3,070 2,970 100 3.3 3,070 3,000 70 2.2Hand County 1,985 1,935 50 2.4 1,885 1,835 50 2.6Hanson County 2,055 1,995 60 3.0 2,005 1,945 60 3.0Harding County 815 790 25 3.1 750 730 20 2.5Hughes County 10,420 10,185 235 2.2 10,775 10,555 220 2.1Hutchinson County 3,845 3,745 100 2.7 3,685 3,590 95 2.6Hyde County 765 740 25 3.0 750 725 25 3.2Jackson County 1,435 1,360 75 5.2 1,415 1,370 45 3.3Jerauld County 1,465 1,435 30 2.1 1,385 1,360 25 1.9Jones County 800 780 20 2.8 810 795 15 1.9Kingsbury County 3,030 2,935 95 3.1 2,925 2,850 75 2.5Lake County 6,735 6,520 215 3.2 6,755 6,560 195 2.9Lawrence County 14,060 13,675 385 2.7 13,790 13,470 320 2.3Lincoln County 21,290 20,755 535 2.5 21,100 20,660 440 2.1Lyman County 2,125 2,015 110 5.2 2,110 2,015 95 4.4McCook County 3,075 2,960 115 3.7 3,020 2,950 70 2.4


of 24

McPherson County 1,180 1,130 50 4.1 1,090 1,055 35 3.4Marshall County 2,180 2,100 80 3.6 2,110 2,040 70 3.2Meade County 13,575 13,185 390 2.9 13,520 13,170 350 2.6Mellette County 900 840 60 6.6 910 860 50 5.5Miner County 1,255 1,210 45 3.6 1,190 1,155 35 2.8Minnehaha County 99,440 96,930 2,510 2.5 98,680 96,475 2,205 2.2Moody County 4,175 3,880 295 7.0 4,165 3,930 235 5.6Pennington County 56,980 55,405 1,575 2.8 56,725 55,340 1,385 2.4Perkins County 1,695 1,645 50 2.8 1,695 1,650 45 2.7Potter County 1,345 1,300 45 3.2 1,300 1,260 40 3.1Roberts County 4,980 4,780 200 4.0 4,945 4,755 190 3.8Sanborn County 1,485 1,445 40 2.7 1,480 1,440 40 2.6Shannon County 4,080 3,475 605 14.9 4,105 3,640 465 11.4Spink County 3,425 3,335 90 2.6 3,400 3,300 100 3.0Stanley County 1,975 1,930 45 2.3 2,040 2,000 40 2.0Sully County 1,050 1,030 20 1.9 1,055 1,035 20 2.0Todd County 3,665 3,305 360 9.8 3,835 3,595 240 6.3Tripp County 3,085 2,990 95 3.1 3,045 2,960 85 2.8Turner County 4,695 4,570 125 2.6 4,665 4,550 115 2.5Union County 7,825 7,485 340 4.3 7,950 7,685 265 3.3Walworth County 2,795 2,685 110 4.0 2,755 2,670 85 3.0Yankton County 12,445 12,095 350 2.8 12,230 11,930 300 2.4Ziebach County 845 770 75 8.8 895 820 75 8.2

Estimates for 2000 to 2007 have been recently updated.Produced in cooperation with the US Bureau of Labor Statistics.


of 24

South Dakota Areas Not Seasonally Adjusted Labor Force

August 2008*

August 2007

Areas Labor Force Employment Unemployment Rate Labor Force Employment Unemployment RateRapid City MSA 70,550 68,590 1,960 2.8 70,240 68,505 1,735 2.5Sioux Falls MSA 128,500 125,220 3,280 2.6 127,460 124,630 2,830 2.2Aberdeen MiSA 23,310 22,755 555 2.4 23,165 22,650 515 2.2Brookings MiSA 19,465 18,965 500 2.6 18,985 18,570 415 2.2Huron MiSA 9,960 9,740 220 2.2 9,490 9,275 215 2.3Mitchell MiSA 13,560 13,235 325 2.4 13,210 12,900 310 2.4Pierre MiSA 12,395 12,115 280 2.2 12,815 12,555 260 2.0Spearfish MiSA 14,060 13,675 385 2.7 13,790 13,470 320 2.3Vermillion MiSA 7,155 6,940 215 3.0 7,165 6,990 175 2.5Watertown MiSA 20,155 19,590 565 2.8 20,240 19,790 450 2.2Yankton MiSA 12,445 12,095 350 2.8 12,230 11,930 300 2.4Dewey-Ziebach LMA 3,490 2,900 590 16.9 3,610 3,095 515 14.3

Estimates for 2000 to 2007 have been recently updated.Estimates for the latest year are subject to revision early the following calendar year.Produced in cooperation with the US Bureau of Labor Statistics.


of 24

South Dakota Cities Not Seasonally Adjusted Labor Force

August 2008*Areas Labor Force Employment Unemployment Rate

Aberdeen City 14,845 14,480 365 2.4%Brookings City 13,160 12,835 325 2.5%Huron City 6,980 6,810 170 2.4%Mitchell City 8,950 8,735 215 2.4%Pierre City 8,780 8,590 190 2.2%Rapid City City 37,640 36,470 1,170 3.1%Sioux Falls City 87,200 84,905 2,295 2.6%Sioux Falls City - Lincoln 8,575 8,360 215 2.5%Sioux Falls City - Minnehaha 78,625 76,540 2,085 2.6%Spearfish City 5,555 5,380 175 3.2%Vermillion City 5,635 5,470 165 2.9%Watertown City 13,310 12,915 395 3.0%Yankton City 7,900 7,645 255 3.2%

*Data is preliminary and subject to revision. Data may not sum to totals because of rounding. Produced in cooperation with the US Bureau of Labor Statistics.


of 24

South Dakota Annualized Pay of Covered Workers

April 2007 to March 2008* Statewide $32,048 Hutchinson County $24,447Rapid City MSA $31,523 Hyde County $26,414Sioux Falls MSA $36,444 Jackson County $23,511Aurora County $24,022 Jerauld County $26,118Beadle County $29,980 Jones County $21,384Bennett County $23,616 Kingsbury County $26,684Bon Homme County $24,093 Lake County $28,016Brookings County $32,712 Lawrence County $27,120Brown County $30,695 Lincoln County $34,777Brule County $22,654 Lyman County $22,118Buffalo County $31,613 McCook County $24,716Butte County $25,006 McPherson County $20,858Campbell County $21,187 Marshall County $26,432Charles Mix County $24,448 Meade County $29,932Clark County $23,943 Mellette County $20,300Clay County $28,422 Miner County $25,393Codington County $29,900 Minnehaha County $36,971Corson County $25,632 Moody County $29,996Custer County $26,503 Pennington County $31,731Davison County $28,977 Perkins County $22,068Day County $22,792 Potter County $22,591Deuel County $31,467 Roberts County $24,560Dewey County $29,161 Sanborn County $23,525Douglas County $24,018 Shannon County $31,003Edmunds County $24,590 Spink County $25,148Fall River County $28,039 Stanley County $25,890Faulk County $23,166 Sully County $23,399Grant County $30,070 Todd County $28,909Gregory County $23,037 Tripp County $24,255Haakon County $25,261 Turner County $25,711Hamlin County $26,923 Union County $39,320Hand County $23,789 Walworth County $22,977Hanson County $25,443 Yankton County $30,540Harding County $28,383 Ziebach County $28,906Hughes County $32,730 *This data is updated quarterly.


of 24

South Dakota Local Office Activities

July 2007 - June 2008

July 2006 - June 2007

% Chg Last Year

ActivitiesJob Seekers 74,990 78,811 -4.8%Entered Employments 28,447 30,501 -6.7%Job Openings Received 89,970 86,973 3.4%


of 24

South Dakota Department of Labor Unemployment Insurance Activities

August

2008July2008

August 2007

% ChgLast Month

% ChgLast Year

Unemployment Insurance ActivitiesInitial Claims 999 1,244 935 -19.7% 6.8%Weeks Claimed 6,384 6,554 5,615 -2.6% 13.7%Amount of Benefit Payments $1,070,734 $1,164,849 $912,586 -8.1% 17.3%Unemployment Trust Fund Balance $28,811,681 $27,970,150 $24,731,897 3.0% 16.5%


of 24

Unemployment Insurance Weeks Claimed South Residents By County

August 2008

Aurora 2 Fall River 40 Marshall 39Beadle 56 Faulk 9 Meade 138Bennett 31 Grant 47 Mellette 53Bon Homme 33 Gregory 17 Miner 11Brookings 267 Haakon 7 Minnehaha 964Brown 182 Hamlin 19 Moody 53Brule 13 Hand 19 Pennington 737Buffalo 21 Hanson 34 Perkins 11Butte 49 Harding 6 Potter 27Campbell 4 Hughes 104 Roberts 115Charles Mix 85 Hutchinson 22 Sanborn 14Clark 43 Hyde 4 Shannon 215Clay 134 Jackson 7 Spink 54Codington 176 Jerauld 0 Stanley 18Corson 105 Jones 0 Sully 0Custer 35 Kingsbury 19 Todd 260Davison 85 Lake 175 Tripp 25Day 76 Lawrence 106 Turner 33Deuel 21 Lincoln 133 Union 87Dewey 173 Lyman 65 Walworth 40Douglas 3 McCook 24 Yankton 133Edmunds 16 McPherson 4 Ziebach 67


of 24

National Economic Indicators

August

2008July 2008

August2007

% Chg Last Month

% Chg Last Year

Consumer Price Index 219.1 220.0 207.9 -0.4% 5.4%Nonfarm Payroll Employment 137.1 137.2 137.5 -0.1% -0.3%Privately Owned Housing Starts 895 954 1,337 -6.2% -33.1%Bank Prime Loan Rate 5.00 5.00 8.25 0.0% -39.4%


of 24

Facing tomorrow's challenges: Workforce 2025 · Facing tomorrow's challenges: Workforce 2025 The...

Documents

Transcript of Facing tomorrow's challenges: Workforce 2025 · Facing tomorrow's challenges: Workforce 2025 The...