Dec. 30, 2021

The unemployment rate for the Sioux Falls metro area dropped to 1.8 percent in November, compared with 2 percent in October.

The jobless rate represents 2,920 residents in the four-county MSA who do not have jobs, have actively looked for one in the past four weeks and are available to work. The total labor force, those who are employed and unemployed, is 159,252, according to statistics from the South Dakota Department of Labor & Regulation.

In October, there were 3,203 people who were unemployed out of a labor force of 159,149.

In November 2020, the unemployment rate was 3 percent, and there were 4,528 people who were out of work.

Nonfarm wage and salaried worker levels in the metro area rose from October to November by 500 people to 161,600, a gain of less than 1 percent. The subcategory of retail trade saw the biggest gain at 3.9 percent, an increase of 700 workers from October. That’s a common increase for this time of year when retailers add staff to prepare for more shoppers during the holidays.

The biggest percentage decline was in the category of mining, logging and construction jobs at 1.8 percent, a loss of 200 workers to 11,200. Leisure and hospitality saw the next biggest drop at 1.5 percent, losing 200 workers. Those declines are consistent with historical trends as the weather gets colder.

Compared with a year ago, nonfarm wage and salaried worker levels are up 2.9 percent in the Sioux Falls metro area.

Across South Dakota, there were 36,000 job openings in October, compared with 34,000 in September, a 7.6 percent increase, according to the most recent seasonally adjusted figures from the U.S. Bureau of Labor Statistics. In October 2020, there were 23,000 openings.

The state’s seasonally adjusted jobless rate was 2.7 percent in November, down from 2.8 percent in October. That represents 12,800 people who do not have jobs, have actively looked for one in the past four weeks and are available to work. A year ago, the rate was 3.6 percent, and there were almost 16,500 unemployed South Dakotans.

The national unemployment rate in November was 4.2 percent, compared with 6.7 percent a year ago. It was 4.6 percent in October.

According to the most recent quarterly census, the number of employers in South Dakota continues to reach record highs.

The number of establishments reporting employment and wages reached a record high of 36,983 in the third quarter, according to the state’s Labor Market Information Center. Average weekly wages rose by 3.5 percent from the second quarter to the third quarter, reaching $969. A year ago, that amount was $918.

South Dakota employers reported a gain of 3,280 workers in the most recent quarter, which ended in September, reaching 437,476. The state set a record in June with 442,525 workers.