January 25, 2022
Summary
South Dakota lost 1,300 net payroll jobs and the unemployment rate fell by 0.1 percentage point to 2.6 percent in December, according to Bureau of Labor Statistics (BLS) data released at 10:00am on January 25, 2022.
Over the past twelve months, South Dakota added 3,400 payroll jobs and the unemployment rate fell by 0.7 percentage point from 3.3 percent.
In December, South Dakota’s private sector lost 400 net private payroll jobs and over the past twelve months it added 2,700 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed fell by 663 on net in December, and over the past year employment rose by 2,557.
South Dakota’s labor force participation rate fell to 68.5 percent in December from 68.6 percent. Since last year, the labor force participation rate fell by 0.6 percentage point.
The national unemployment rate fell by 0.3 percentage point in December to 3.9 percent. State employment and unemployment data for January is scheduled for release March 14, 2022. The national employment situation report for January will be released February 04, 2022.
South Dakota Payroll Employment
South Dakota lost 1,300 net payroll jobs, or -0.3 percent, on a seasonally adjusted basis during December. In the prior month, South Dakota lost 1,600 jobs. Over the past twelve months, South Dakota added 3,400 payroll jobs, or 0.8 percent. South Dakota nonfarm payroll employment had increased in 7 of the past 12 months.
Nationally, nonfarm payrolls rose by 199,000 in December, or rose by 0.1 percent. Over the 12-month period ending with December, nonfarm payrolls rose by 6,448,000 jobs, or 4.5 percent. South Dakota ranks 51st among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During December, South Dakota’s private-sector lost 400 jobs, or approximately -0.1 percent. The private-sector in South Dakota lost 1,400 jobs in the prior month. Over the past twelve months, private-sector payrolls in South Dakota added 2,700, or 0.8 percent. South Dakota private-sector payroll employment has increased in 6 of the past 12 months.
Nationally, private-sector payroll jobs rose by 211,000 jobs in December, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,996,000 jobs in the private sector, or 5 percent. South Dakota ranks 51st among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during December were Trade, Transportation, and Utilities (300) and Education and Health Services (200). The poorest performing sectors during the month were Professional and Business Services (-500) and Government (-900).
The best performing sectors during the last twelve months were Leisure and Hospitality (3,200) and Construction (2,400). The poorest performing sectors during the last twelve months were Trade, Transportation, and Utilities (-1,000) and Education and Health Services (-1,700).
South Dakota Labor Force Statistics
Labor Force Participation
The labor force participation rate in South Dakota fell to 68.5 percent in December from 68.6 percent in the prior month. At a labor force participation rate of 68.5 percent, South Dakota is tied for 2nd in the nation. The labor force participation rate in South Dakota fell by 0.6 percentage point from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in South Dakota was 71.3 percent in December 2011. The series high for the labor force participation rate in South Dakota last occurred in February 2004 when the labor force participation rate hit 73.2 percent. The 10-year low for the labor force participation rate was 66.7 percent in August 2020. The series low for the labor force participation rate in South Dakota last occurred in May 1976 when the labor force participation rate hit 64.3 percent.
The national labor force participation rate remained steady at 61.9 percent in December. That rate rose by 0.4 percentage point from a year earlier. The all-time high for the national labor force participation rate was 67.3 percent in April 2000. The 10-year high for the national labor force participation rate was 63.8 percent in October 2012. The recent 10-year low occurred in April 2020 at a level of 60.2 percent. The series low for the national labor force participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the South Dakota civilian noninstitutionalized population 16 years and older counted as employed, in December remained unchanged. At 66.7 percent, South Dakota ranks 3rd among state employment-to-population ratios in the nation. The employment-to-population ratio in South Dakota fell by 0.1 percentage point from a year earlier.
The 10-year high for the employment-to-population ratio in South Dakota was 68.2 percent last occurring in January 2012. The series high for the employment-to-population ratio in South Dakota last occurred in March 2001 when the employment-to-population ratio hit 71.1 percent. The 10-year low for the employment-to-population ratio was 62.7 percent in April 2020. The series low for the employment-to-population ratio in South Dakota last occurred in May 1976 when the employment-to-population ratio hit 62.3 percent.
The national employment-to-population ratio rose by 0.2 percentage point over the month to 59.5 percent in December. That rate rose by 2.1 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.