April 3, 2023

The unemployment rate for the Sioux Falls metro area rose to 2.3 percent in February.

The jobless rate in January was 1.9 percent, according to statistics from the South Dakota Department of Labor & Regulation.

The local unemployment rate, which isn’t seasonally adjusted, represents 3,725 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. It also includes those who have been laid off temporarily. In January, the number of unemployed was 3,052.

The total labor force for the Sioux Falls MSA, those who are employed and unemployed, was 162,131 in February, up from 161,165 the previous month.

A year ago, the metro area jobless rate was 2.7 percent, with 4,242 people who were unemployed out of a labor force of 158,940.

The number of job openings rose for the second month in a row after falling every month since last year’s peak in July of 23,341. In the MSA, there were 15,981 job openings in February, according to the state’s virtual labor market data system. That compares with 14,874 open positions in the previous month and 19,668 openings a year ago.

Nonfarm wage and salaried worker levels in the metro area rose from January to February by 1,100 people to 167,600, less than 1 percent. Most industries saw gains of less than 2 percent, with only “other services,” financial activities and retail trade showing declines of 1.6 percent or less.

Compared with a year ago, nonfarm wage and salaried worker levels were up 2.9 percent in the Sioux Falls MSA, which includes Minnehaha, Lincoln, McCook and Turner counties.

The statewide unemployment rate for February, which is seasonally adjusted, was unchanged from January at 2.1 percent.

The rate represents 9,800 people who do not have jobs, have actively looked for one in the past four weeks and are available to work, along with those laid off temporarily, according to the state Labor Department. A year ago, the rate was 1.9 percent, and there were 9,100 unemployed South Dakotans.

In February, the statewide labor force grew by 700 workers to 476,000. A year ago, it was 473,600.

The labor supply, those who would be available to staff a new or expanding business, was estimated at 46,130 people. That’s an increase from 43,555 people in January and includes people are not working and those who would like to change jobs.

The national unemployment rate rose to 3.6 percent in February from 3.4 percent the previous month. A year ago, it was 3.8 percent.