Oct. 11, 2023

The unemployment rate for the Sioux Falls metro area rose to 1.8 percent in August, up from its record-tying low of 1.4 percent in July.

It’s still among the lowest jobless rates for metro areas in the U.S., according to figures from the U.S. Bureau of Labor Statistics. The only lower rates were Bismarck, North Dakota, at 1.5 percent and Fargo at 1.6 percent. In addition to Sioux Falls, four other metro areas – two on the East Coast and two in Nebraska – had a 1.8 percent rate.

According to the South Dakota Department of Labor & Regulation, the Sioux Falls unemployment rate, which is not seasonally adjusted and is preliminary, represents 2,972 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 July, the number of unemployed was 2,337.

The total labor force for the Sioux Falls MSA, those who are employed and unemployed, was 166,926 in August, down from 168,582 the previous month.

A year ago, the metro area jobless rate was 1.9 percent, with 3,130 people who were unemployed out of a labor force of 163,799.

The number of job openings in the Sioux Falls MSA dropped to 14,633 in August, according to the state’s virtual labor market data system. There were 14,795 open positions the previous month. A year ago, there were 18,960 openings.

Nonfarm wage and salaried worker levels in the Sioux Falls MSA rose from July to August by 300 people to 174,300, an increase of 0.2 percent. Professional and business services saw the biggest increase at 3.6 percent. Mining, logging and construction saw the biggest decline, with a 2.4 percent loss in the number of workers.

Compared with a year ago, nonfarm wage and salaried worker levels were up 2.7 percent in the MSA, which includes Minnehaha, Lincoln, McCook and Turner counties.

South Dakota’s unemployment rate was unchanged in August at 1.9 percent.

South Dakota’s jobless rate, which is seasonally adjusted, represents 9,100 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 2.2 percent, and there were 10,300 unemployed South Dakotans.

In August, South Dakota’s labor force grew by 400 workers from the previous month to 483,100. A year ago, it was 475,500.

The labor supply, those who would be available to staff a new or expanding business, was estimated at 47,435 people. That’s an increase from 45,685 in July and includes people who are not working and those who would like to change jobs.

The national unemployment rate was 3.8 percent in August, up from 3.5 percent in July. A year ago, the rate was 3.7 percent.