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South Dakota e-Labor Bulletin August 2009

August 2009 Labor Market Information Center South Dakota Department of Labor

Recession is nothing new

From the August 2009 South Dakota e-Labor Bulletin

"As sure as the spring will follow the winter, prosperity and economic growth will follow ." -- Bo Bennett

A downturn in the economy affects nearly everyone in a society. Layoffs. Foreclosed homes. Wage cuts. Price hikes. Collapsed . Deflated retirement plans. Business closures. They are all symptoms of a fatigued economy, which we in the have come to know as another recession.

Recession defined

So, what exactly is a recession? While an economy naturally cycles through a series of expansions and contractions, a recession is basically an extreme economic contraction. It begins at the last high point, or peak, of economic activity and ends when at its lowest point, or trough. Interestingly, the start and end points of a recession can only be identified in retrospect.

The National Bureau of Economic Research is the entity that officially declares in the United States. They define a recession as "a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP (), real income, employment, industrial production, and wholesale-retail sales." In other words, it is the weakening of multiple economic factors that determines a recession.

Having the largest GDP in the world, the United States stands out as an economic powerhouse. As a result, recessions in the United States and other key countries tend to spill over to other nations as well. In fact, the unwelcome effects of many recessions can be felt worldwide.

Recessions in history

The United States is no stranger to recessions. We were first struck in the late 1700s and have been consistently re-visited by recessions ever since. In fact, we have suffered through over a dozen recessions since the notorious of the 1930s. The table on the next three pages details the occurrences of recessions since the Great Depression.

Page 1 of 23 South Dakota e-Labor Bulletin August 2009

*Number of Months since *Duration previous Commonly Known As Characteristics *Start *End (in Months) recession

The Great Depression one of the most August 1929 March 1933 43 21 devastating economic catastrophes in history

markets crashed worldwide

banking collapse in the U.S.

severe drought ("Dirty Thirties") Recession of 1937 often considered part of May 1937 June 1938 13 50 the Great Depression Recession of 1945 post-World War II era February 1945 8 80

huge drop in GDP (gross domestic product)

returning troops needed jobs Recession of 1948 brief, mild economic 11 37 downturn post-Korean War era July 1953 May 1954 10 45

high high rates August 1957 April 1958 8 39

failing businesses

was tightened Recession of 1960-1 high unemployment rates April 1960 February 1961 10 24

high inflation

weak consumer confidence Recession of 1969-70 high unemployment rates December 1969 November 1970 11 106

high inflation

Page 2 of 23 South Dakota e-Labor Bulletin August 2009

*Number of Months since *Duration previous Commonly Known As Characteristics *Start *End (in Months) recession

1970s Oil Crisis skyrocketing oil prices November March 1975 16 36 1973 increased spending on the Vietnam War 1980 recession a recession in 1980 January 1980 July 1980 6 58 Early recession the (new July 1981 November 16 12 regime of power) 1982

increase in the price of oil

tightened US monetary policy

high inflation Early recession collapse July 1990 March 1991 8 92 ()

major drop in Dow Jones Industrial Average Early recession collapse of the dot.com March 2001 November 8 120 bubble 2001

Sept. 11 attacks on the Pentagon and World Trade Center

Page 3 of 23 South Dakota e-Labor Bulletin August 2009

*Number of Months since *Duration previous Commonly Known As Characteristics *Start *End (in Months) recession

Late 2000s recession collapse of the housing December 73 (ongoing) market 2007

collapses in the U.S. and Europe

record oil prices and food prices

stock markets crashed globally

several high profile banking, automotive, and manufacturing giants collapsed in the U.S.

*Source: National Bureau of Economic Research

A topic of much debate, the blame for recessions has been directed toward wars, unfavorable weather, major commercial failures, certain political measures and/or simply disturbances in the delicate balance of money supply, inflation and rates. In many cases, certain causes later show up as effects as a recession gains momentum.

The National Bureau of Economic Research officially declares recessions for the nation as a whole. but not for individual states, regions, industries or other economic entities. In contrast, these smaller-scale economies may not suffer the same impact or follow at the same pace as the rest of the nation as a whole. For example, at the beginning of the current recession, it seemed South Dakota was immune to the seriousness of the economic woes of much of the rest of the country. Inevitably though, we have come to feel delayed effects of the recession as well. One example of the impact is illustrated in our unemployment rate.

Page 4 of 23 South Dakota e-Labor Bulletin August 2009

Although the unemployment rate in South Dakota has been climbing, the state still continues to experience a rate consistently lower than the national rate. South Dakota has also maintained one of the lowest foreclosure rates in the nation, and according to the Bureau of Economic Analysis, South Dakota ranks third in the nation in GDP growth from 2007 to 2008.

Many economists and forecasters expect this recession to end soon, maybe even this year. However, the recovery undoubtedly will take time. And hopefully the next recession will not stop by for a visit anytime soon.

Overview of the labor market in July

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 84,490 in July 2009. 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

This data is seasonally adjusted.

South Dakota's preliminary seasonally adjusted unemployment rate was 4.9 percent in July 2009, decreasing by 0.1 percentage point from the revised June 2009 rate of 5.0 percent. Prior to 2009, the last time the unemployment rate was at 4.9 percent was in November of 1985. (See related data.)

Page 5 of 23 South Dakota e-Labor Bulletin August 2009

Over the year, South Dakota's unemployment rate has increased 1.9 points, from 3.0 percent in July 2008 to the July 2009 preliminary rate of 4.9 percent. (See related historical data.)

The unemployment rate represents the number of unemployed as a percent of the labor force. People are classified as unemployed if they do not have jobs, have actively looked for work in the prior four weeks and are currently available for work. People who were not working and were waiting to be recalled to jobs from which they were temporarily laid off are also included as unemployed.

The concepts and definitions underlying the labor force data come from the Current Population Survey (CPS), the household survey which is the official measure of the labor force for the nation. The statewide estimate of the number of nonfarm jobs is a component of the model used to produce the labor force estimates. Other data used in this model include the number of initial unemployment insurance claims and survey data from the Current Population Survey (CPS) which is specific to the state.

Although state specific data is used in the production of the labor force estimates for South Dakota, the state monthly model estimates are controlled in "real time" to sum to national monthly labor force estimates from the CPS. Therefore, variation in the estimates of the employed and unemployed are somewhat controlled by what is happening nationally. (See methodology.)

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 the total nonfarm wage and salaried worker level decreased by 3,500 workers (or 0.8 percent) from June 2009 to July 2009. (See table of related data.)

The seasonal loss showed less of a drop than the historical average for the June to July time period, but this was likely the result of less hiring in the previous months (not as many workers to start with). Still, the shallow seasonal loss is good news as it means there were not as many non-seasonal jobs that were lost in the current recession. (See related historical data.)

Private and public education services produced a combined seasonal loss of 5,200 workers as a result of work study students and school staff moving off educational institutions' payrolls for the summer. The private and public educational services worker loss was well within past June to July historical movements. The industries with the highest over-the-month gains were mining, logging and construction; financial activities; and leisure and hospitality services.

Mining, logging and construction showed a 600 worker (or 2.4 percent) seasonal gain, which is well within average historical patterns derived from previous June to July employment level changes.

Financial activities increased by 700 workers (or 2.3 percent) as the industry shows a slight recovery from earlier months. Leisure and hospitality services showed a seasonal worker gain of 400 workers (or 0.9 percent) as those businesses that cater to travelers welcomed a new tourist season.

Over-the-year comparisons

Based on a monthly survey of South Dakota establishments, preliminary estimates show total nonfarm wage and salaried workers decreased by 6,200 employees (or 1.5 percent) from July 2008 to July 2009. The South Dakota industries hurt the most in the current recession were the mining, logging and construction industry;

Page 6 of 23 South Dakota e-Labor Bulletin August 2009 manufacturing; and professional and business services. The industries with the largest gains were education and health services, along with total government.

Mining, logging and construction showed almost two decades of worker growth before the South Dakota economic downturn. The downturn caused an 800 worker (or 3.1 percent) over-the-year loss for this South Dakota industry.

Manufacturing was unique in South Dakota as the industry produced worker growth from the beginning of 2004 basically all the way through November 2008, compared to national manufacturing's decline that started in 1998. Since the national economic downturn became more pronounced, South Dakota manufacturing started showing over-the-year declines. The largest 12-month loss came this July, with a 5,100 worker (or 11.8 percent) decline. South Dakota manufacturing was bound to be hit hard by the national and world recession, as it exports almost all of its goods. In-depth analyses by the Bank of Minneapolis shows surveyed manufacturers in South Dakota are not as optimistic as they were in 2008. (See the survey results.)

Professional and business services' over-the-year decline of 1,500 workers (or 5.3 percent) was a result of businesses impacted by the recession no longer hiring as many workers through temporary help agencies and from businesses which reduced output and therefore no longer need the prior level of services being provided by professional and business services. When the state and the nation ease out of the recession, the level of workers in professional and business services is expected to rebound.

The education and health services industry produced an increase of 1,400 workers (or 2.3 percent) over the year. The growth was largely within healthcare. South Dakota healthcare worker numbers have increased every year since the specific data was first recorded in 1972.

Total government gained 1,500 workers (or 2.1 percent), with all government levels making the gains. It is likely recently received federal stimulus money had some effect on government's worker levels.

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 June 2009 to July 2009 was unchanged (or 0.0 percent). (See table of related data.)

From July 2008 to July 2009, the Rapid City MSA nonfarm wage and salaried worker level lost 1,200 workers (or 1.9 percent). Like statewide, the Rapid City MSA is feeling the recession within the goods producing and professional and business industries. (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 estimate from June 2009 to July 2009 decreased by 2,000 workers or 1.5 percent. (See table of related data.)

From July 2008 to July 2009, the Sioux Falls MSA had a 2,000 (or 1.5 percent) nonfarm wage and salaried worker decrease. The MSA is feeling the effects of worker layoffs, especially within the goods producing industries and in financial activities. However, strong worker growth continues within the healthcare industry. (See related historical data.)

Page 7 of 23 South Dakota e-Labor Bulletin August 2009 South Dakota Nonfarm Worker Levels

% Chg % Chg Industries July 2009 June 2009 July 2008 Last Month Last Year TOTAL 410,300 413,800 416,500 -0.8 -1.5 Total Private 336,700 335,600 344,400 0.3 -2.2 Goods Producing 63,200 62,600 69,100 1.0 -8.5 Service Providing 347,100 351,200 347,400 -1.2 -0.1 Private Service Providing 273,500 273,000 275,300 0.2 -0.7 Mining/Logging/Const 25,100 24,500 25,900 2.4 -3.1 Manufacturing 38,100 38,100 43,200 0.0 -11.8 Trade Trans/Util 82,400 82,900 83,200 -0.6 -1.0 Wholesale Trade 18,700 18,900 18,900 -1.1 -1.1 Retail Trade 50,500 50,700 51,100 -0.4 -1.2 Trans/Warehsing/Util 13,200 13,300 13,200 -0.8 0.0 Information 7,000 6,900 7,000 1.4 0.0 Financial Activities 31,100 30,400 31,400 2.3 -1.0 Prof Bus Services 27,000 26,900 28,500 0.4 -5.3 Education/Health Svc 62,800 63,300 61,400 -0.8 2.3 Educational Services 6,300 6,700 6,100 -6.0 3.3 Hlth Care/Soc Assist 56,500 56,600 55,300 -0.2 2.2 Leisure/Hospitality 47,100 46,700 47,600 0.9 -1.1 Other Services 16,100 15,900 16,200 1.3 -0.6 Government 73,600 78,200 72,100 -5.9 2.1 Federal 11,500 11,800 11,300 -2.5 1.8 State 17,100 16,900 16,400 1.2 4.3 Local 45,000 49,500 44,400 -9.1 1.4

2009 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.

Page 8 of 23 South Dakota e-Labor Bulletin August 2009 Rapid City Metropolitan Statistical Area Nonfarm Worker Levels

% Chg % Chg Industries July 2009 June 2009 July 2008 Last Month Last Year Rapid City MSA Total 63,000 63,000 64,200 0.0 -1.9 Total Private 53,400 52,400 55,000 1.9 -2.9 Goods Producing 7,700 7,600 8,600 1.3 -10.5 Service-Providing 55,300 55,400 55,600 -0.2 -0.5 Private Service Providing 45,700 44,800 46,400 2.0 -1.5 Natural Resources/Mining/Construction 5,100 5,000 5,300 2.0 -3.8 Manufacturing 2,600 2,600 3,300 0.0 -21.2 Trade/Transportation/Utilities 13,700 13,300 13,800 3.0 -0.7 Wholesale Trade 2,200 2,200 2,200 0.0 0.0 Retail Trade 9,500 9,100 9,400 4.4 1.1 Transportation/Warehousing/Utilities 2,000 2,000 2,200 0.0 -9.1 Information 1,000 1,000 1,000 0.0 0.0 Financial Activities 3,800 3,800 3,900 0.0 -2.6 Professional/Business Services 4,600 4,600 5,000 0.0 -8.0 Educational/Health Services 9,600 9,600 9,400 0.0 2.1 Leisure/Hospitality 10,200 9,700 10,400 5.2 -1.9 Other Services 2,800 2,800 2,900 0.0 -3.4 Government 9,600 10,600 9,200 -9.4 4.3

2009 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.

Page 9 of 23 South Dakota e-Labor Bulletin August 2009 Sioux Falls Metropolitan Statistical Area Nonfarm Worker Levels

% Chg % Chg Industries July 2009 June 2009 July 2008 Last Month Last Year Sioux Falls MSA Total 134,700 136,700 136,700 -1.5 -1.5 Total Private 123,100 123,300 125,500 -0.2 -1.9 Goods Producing 20,600 20,500 22,300 0.5 -7.6 Service-Providing 114,100 116,200 114,400 -1.8 -0.3 Private Service Providing 102,500 102,800 103,200 -0.3 -0.7 Natural Resources/Mining/Construction 8,000 7,900 8,500 1.3 -5.9 Manufacturing 12,600 12,600 13,800 0.0 -8.7 Trade/Transportation/Utilities 28,400 28,400 28,800 0.0 -1.4 Wholesale Trade 6,800 6,800 6,900 0.0 -1.4 Retail Trade 16,500 16,500 16,800 0.0 -1.8 Transportation/Warehousing/Utilities 5,100 5,100 5,100 0.0 0.0 Information 3,000 3,100 3,100 -3.2 -3.2 Financial Activities 16,500 16,500 17,000 0.0 -2.9 Professional/Business Services 11,000 10,900 11,300 0.9 -2.7 Educational/Health Services 25,200 25,600 24,400 -1.6 3.3 Leisure/Hospitality 13,600 13,500 13,800 0.7 -1.4 Other Services 4,800 4,800 4,800 0.0 0.0 Government 11,600 13,400 11,200 -13.4 3.6

2009 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.

Page 10 of 23 South Dakota e-Labor Bulletin August 2009 South Dakota Statistical Areas Nonfarm Worker Levels

Areas July 2009 July 2008 Aberdeen MiSA 22,525 22,685 Brookings MiSA 17,555 18,075 Huron MiSA 8,880 8,665 Mitchell MiSA 13,315 13,495 Pierre MiSA 12,560 12,430 Spearfish MiSA 12,410 12,390 Vermillion MiSA 6,460 6,555 Watertown MiSA 17,820 18,570 Yankton MiSA 13,180 13,450 Rapid City MSA 63,000 64,200 Sioux Falls MSA 134,700 136,700 Dewey-Ziebach LMA 2,215 2,275 Aurora County 815 845 Bennett County 845 800 Bon Homme County 2,025 2,035 Brule County 2,355 2,360 Buffalo County 475 500 Butte County 2,990 2,970 Campbell County 430 450 Charles Mix County 3,560 3,610 Clark County 895 915 Corson County 845 860 Custer County 3,505 3,445 Day County 2,165 2,200 Deuel County 1,765 1,800 Douglas County 1,150 1,165 Fall River County 2,840 2,920 Faulk County 555 585 Grant County 3,965 3,930 Gregory County 1,570 1,560 Haakon County 745 765 Hand County 1,295 1,310 Harding County 455 470 Hutchinson County 2,715 2,760 Hyde County 580 565 Jackson County 910 920 Jerauld County 1,495 1,525 Jones County 560 570 Kingsbury County 1,810 1,940 Lake County 4,765 4,865 Lyman County 1,650 1,690 McPherson County 660 645 Marshall County 1,505 1,530 Mellette County 375 375 Miner County 865 865 Moody County 2,235 2,370 Perkins County 1,180 1,215 Potter County 900 955 Roberts County 3,495 3,580 Sanborn County 710 745 Shannon County 3,850 3,905 Spink County 2,410 2,415 Page 11 of 23 South Dakota e-Labor Bulletin August 2009 Sully County 535 560 Todd County 3,060 3,085 Tripp County 2,235 2,265 Union County 9,585 9,815 Walworth County 2,355 2,365

2009 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.

Page 12 of 23 South Dakota e-Labor Bulletin August 2009 South Dakota Labor Supply

July 2009

South Dakota 84,490 Hanson County 190 Rapid City MSA 14,975 Harding County 90 Sioux Falls MSA 23,440 Hughes County 1,835 Aurora County 160 Hutchinson County 405 Beadle County 1,465 Hyde County 85 Bennett County 435 Jackson County 360 Bon Homme County 395 Jerauld County 175 Brookings County 3,060 Jones County 110 Brown County 3,360 Kingsbury County 390 Brule County 405 Lake County 960 Buffalo County 390 Lawrence County 2,875 Butte County 730 Lyman County 485 Campbell County 75 McPherson County 155 Charles Mix County 730 Marshall County 285 Clark County 240 Mellette County 215 Clay County 1,600 Miner County 180 Codington County 3,300 Moody County 645 Corson County 390 Perkins County 200 Custer County 715 Potter County 150 Davison County 2,305 Roberts County 1,040 Day County 490 Sanborn County 130 Deuel County 360 Shannon County 2,650 Dewey County 1,245 Spink County 475 Douglas County 180 Stanley County 315 Edmunds County 220 Sully County 100 Fall River County 785 Todd County 1,340 Faulk County 120 Tripp County 415 Grant County 610 Union County 1,980 Gregory County 265 Walworth County 465 Haakon County 105 Yankton County 2,330 Hamlin County 430 Ziebach County 275 Hand County 205

Page 13 of 23 South Dakota e-Labor Bulletin August 2009 United States & South Dakota Seasonally Adjusted Labor Force

July July 2009* 2008 Areas Labor Force Employment Unemployment Rate Labor Force Employment Unemployment Rate United States 154,504,000 140,041,000 14,462,000 9.4% 154,506,000 145,596,000 8,910,000 5.8% South Dakota 447,100 425,100 22,000 4.9% 444,600 431,400 13,200 3.0%

Produced in cooperation with the US Bureau of Labor Statistics.

Page 14 of 23 South Dakota e-Labor Bulletin August 2009 South Dakota & Counties Not Seasonally Adjusted Labor Force

July July 2009 2008 Areas Labor Force Employment Unemployment Rate Labor Force Employment Unemployment Rate SOUTH DAKOTA 457,770 436,410 21,360 4.7 455,230 442,035 13,195 2.9 Aurora County 1,535 1,480 55 3.5 1,565 1,520 45 2.7 Beadle County 10,170 9,880 290 2.8 9,910 9,700 210 2.1 Bennett County 1,400 1,295 105 7.4 1,320 1,265 55 4.0 Bon Homme County 3,235 3,090 145 4.5 3,185 3,090 95 3.0 Brookings County 18,520 17,840 680 3.7 19,560 19,055 505 2.6 Brown County 21,480 20,845 635 3.0 21,305 20,825 480 2.3 Brule County 2,895 2,825 70 2.4 2,955 2,880 75 2.5 Buffalo County 525 425 100 18.8 495 445 50 10.5 Butte County 5,700 5,465 235 4.2 5,525 5,380 145 2.6 Campbell County 825 795 30 3.4 860 840 20 2.2 Charles Mix County 4,225 4,010 215 5.1 4,295 4,130 165 3.8 Clark County 1,840 1,740 100 5.5 1,925 1,860 65 3.5 Clay County 7,240 6,960 280 3.9 7,410 7,190 220 3.0 Codington County 17,340 16,085 1,255 7.2 17,115 16,685 430 2.5 Corson County 1,365 1,255 110 8.1 1,385 1,280 105 7.6 Custer County 5,995 5,845 150 2.5 5,880 5,765 115 1.9 Davison County 11,745 11,245 500 4.3 11,590 11,330 260 2.2 Day County 3,060 2,870 190 6.1 3,050 2,935 115 3.7 Deuel County 2,875 2,730 145 5.1 2,900 2,835 65 2.2 Dewey County 2,730 2,150 580 21.2 2,590 2,135 455 17.6 Douglas County 1,770 1,710 60 3.5 1,825 1,790 35 2.0 Edmunds County 2,070 2,020 50 2.5 2,065 2,015 50 2.5 Fall River County 3,950 3,745 205 5.1 3,900 3,785 115 2.9 Faulk County 1,100 1,065 35 3.0 1,175 1,140 35 3.1 Grant County 4,385 4,240 145 3.3 4,320 4,210 110 2.6 Gregory County 2,430 2,360 70 2.8 2,525 2,450 75 3.0 Haakon County 1,155 1,125 30 2.4 1,205 1,175 30 2.3 Hamlin County 3,030 2,875 155 5.1 3,075 2,980 95 3.1 Hand County 1,950 1,905 45 2.4 2,000 1,950 50 2.5 Hanson County 2,025 1,960 65 3.3 2,035 1,975 60 2.9 Harding County 830 805 25 3.0 855 830 25 2.9 Hughes County 10,800 10,510 290 2.7 10,480 10,245 235 2.2 Hutchinson County 3,840 3,710 130 3.4 3,910 3,815 95 2.4 Hyde County 775 750 25 3.5 790 770 20 2.8 Jackson County 1,465 1,360 105 7.0 1,425 1,365 60 4.3 Jerauld County 1,470 1,435 35 2.4 1,505 1,475 30 1.9 Jones County 785 765 20 2.7 800 785 15 1.9 Kingsbury County 3,075 2,910 165 5.4 3,175 3,100 75 2.4 Lake County 6,785 6,365 420 6.2 6,670 6,470 200 3.0 Lawrence County 14,050 13,535 515 3.7 13,990 13,615 375 2.7 Lincoln County 21,820 20,960 860 3.9 21,620 21,105 515 2.4 Lyman County 2,140 2,000 140 6.6 2,130 2,025 105 4.9 McCook County 2,875 2,745 130 4.5 2,840 2,765 75 2.7 McPherson County 1,150 1,095 55 5.0 1,175 1,135 40 3.6 Marshall County 2,195 2,095 100 4.5 2,245 2,150 95 4.2 Meade County 13,055 12,560 495 3.8 13,045 12,695 350 2.7 Mellette County 935 845 90 9.4 925 870 55 5.7 Miner County 1,280 1,205 75 6.0 1,265 1,230 35 2.9 Page 15 of 23 South Dakota e-Labor Bulletin August 2009 Minnehaha County 102,755 98,045 4,710 4.6 101,200 98,715 2,485 2.5 Moody County 4,140 3,790 350 8.4 4,225 3,955 270 6.4 Pennington County 57,255 54,815 2,440 4.3 56,860 55,410 1,450 2.6 Perkins County 1,640 1,580 60 3.7 1,705 1,655 50 2.8 Potter County 1,315 1,270 45 3.3 1,425 1,385 40 2.9 Roberts County 4,860 4,580 280 5.7 4,810 4,625 185 3.9 Sanborn County 1,425 1,380 45 3.3 1,495 1,465 30 2.1 Shannon County 4,090 3,380 710 17.4 3,800 3,295 505 13.3 Spink County 3,420 3,315 105 3.1 3,445 3,360 85 2.5 Stanley County 2,030 1,980 50 2.5 1,970 1,930 40 2.1 Sully County 1,080 1,055 25 2.3 1,100 1,080 20 1.6 Todd County 3,690 3,305 385 10.5 3,585 3,280 305 8.5 Tripp County 3,010 2,930 80 2.6 3,095 3,010 85 2.7 Turner County 4,415 4,225 190 4.3 4,380 4,255 125 2.8 Union County 8,590 8,015 575 6.7 8,300 8,005 295 3.5 Walworth County 2,720 2,600 120 4.4 2,755 2,660 95 3.5 Yankton County 12,610 11,915 695 5.5 12,435 12,115 320 2.6 Ziebach County 855 770 85 9.8 835 765 70 8.2

Revised 2004, 2005, 2006, 2007, and 2008 statewide and substate data has been recently updated. Produced in cooperation with the US Bureau of Labor Statistics.

Page 16 of 23 South Dakota e-Labor Bulletin August 2009 South Dakota Areas Not Seasonally Adjusted Labor Force

July July 2009* 2008 Areas Labor Force Employment Unemployment Rate Labor Force Employment Unemployment Rate Rapid City MSA 70,305 67,370 2,935 4.2 69,905 68,105 1,800 2.6 Sioux Falls MSA 131,865 125,975 5,890 4.5 130,045 126,840 3,205 2.5 Aberdeen MiSA 23,550 22,860 690 2.9 23,370 22,840 530 2.3 Brookings MiSA 18,520 17,840 680 3.7 19,560 19,055 505 2.6 Huron MiSA 10,170 9,880 290 2.8 9,910 9,700 210 2.1 Mitchell MiSA 13,775 13,205 570 4.1 13,625 13,305 320 2.3 Pierre MiSA 12,830 12,490 340 2.7 12,450 12,175 275 2.2 Spearfish MiSA 14,050 13,535 515 3.7 13,990 13,615 375 2.7 Vermillion MiSA 7,240 6,960 280 3.9 7,410 7,190 220 3.0 Watertown MiSA 20,370 18,960 1,410 6.9 20,190 19,665 525 2.6 Yankton MiSA 12,610 11,915 695 5.5 12,435 12,115 320 2.6 Dewey-Ziebach LMA 3,585 2,920 665 18.5 3,425 2,900 525 15.3

Revised 2004, 2005, 2006, 2007, and 2008 statewide and substate data has 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.

Page 17 of 23 South Dakota e-Labor Bulletin August 2009 South Dakota Cities Not Seasonally Adjusted Labor Force

July 2009* Areas Labor Force Employment Unemployment Rate Aberdeen City 15,095 14,590 505 3.3% Brookings City 12,530 12,055 475 3.8% Huron City 7,115 6,890 225 3.1% Mitchell City 9,175 8,730 445 4.9% Pierre City 9,115 8,860 255 2.8% Rapid City City 38,070 36,075 1,995 5.2% Sioux Falls City 89,420 85,080 4,340 4.9% Sioux Falls City - Lincoln 5,170 4,895 275 5.3% Sioux Falls City - Minnehaha 84,250 80,185 4,065 4.8% Spearfish City 5,605 5,350 255 4.6% Vermillion City 5,690 5,485 205 3.6% Watertown City 13,590 12,495 1,095 8.1% Yankton City 8,070 7,510 560 6.9%

*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.

Page 18 of 23 South Dakota e-Labor Bulletin August 2009 South Dakota Annualized Pay of Covered Workers

January 2008 to December 2008*

Statewide $32,821 Hutchinson County $25,549 Rapid City MSA $32,227 Hyde County $28,281 Sioux Falls MSA $36,980 Jackson County $22,573 Aurora County $24,724 Jerauld County $26,265 Beadle County $31,141 Jones County $22,184 Bennett County $24,674 Kingsbury County $28,685 Bon Homme County $24,668 Lake County $29,493 Brookings County $33,646 Lawrence County $28,091 Brown County $31,783 Lincoln County $35,888 Brule County $23,490 Lyman County $23,226 Buffalo County $32,962 McCook County $25,702 Butte County $25,574 McPherson County $22,448 Campbell County $23,185 Marshall County $27,426 Charles Mix County $24,720 Meade County $30,710 Clark County $25,196 Mellette County $21,218 Clay County $29,285 Miner County $26,587 Codington County $30,910 Minnehaha County $37,374 Corson County $26,842 Moody County $30,558 Custer County $26,783 Pennington County $32,422 Davison County $29,727 Perkins County $23,543 Day County $23,656 Potter County $24,189 Deuel County $33,158 Roberts County $25,274 Dewey County $29,391 Sanborn County $25,655 Douglas County $25,026 Shannon County $32,994 Edmunds County $26,803 Spink County $27,651 Fall River County $29,207 Stanley County $25,438 Faulk County $24,334 Sully County $25,002 Grant County $30,969 Todd County $29,678 Gregory County $23,495 Tripp County $25,365 Haakon County $26,054 Turner County $29,978 Hamlin County $28,047 Union County $38,742 Hand County $24,631 Walworth County $24,081 Hanson County $26,457 Yankton County $31,722 Harding County $33,406 Ziebach County $29,905 Hughes County $33,691

*This data is updated quarterly.

Page 19 of 23 South Dakota e-Labor Bulletin August 2009 South Dakota Local Office Activities

July 2008 - July 2007 - % Chg June 2009 June 2008 Last Year Activities Job Seekers 87,298 74,986 16.4% Entered Employments 26,661 28,447 -6.3% Job Openings Received 70,747 87,970 -19.6%

Page 20 of 23 South Dakota e-Labor Bulletin August 2009

South Dakota Department of Labor Unemployment Insurance Activities

July June July % Chg % Chg 2009 2009 2008 Last Month Last Year Unemployment Insurance Activities Initial Claims 2,224 2,318 1,244 -4.1% 78.8% Weeks Claimed 21,135 22,079 6,554 -4.3% 222.5% Amount of Benefit Payments $4,317,052 $5,103,387 $1,164,849 -15.4% 270.6% Unemployment Trust Fund Balance $8,540,802 $9,956,950 $27,970,150 -14.2% -69.5%

Page 21 of 23 South Dakota e-Labor Bulletin August 2009 Unemployment Insurance Weeks Claimed South Dakota Residents By County

July 2009

Aurora 47 Fall River 133 Marshall 77 Beadle 255 Faulk 10 Meade 411 Bennett 43 Grant 114 Mellette 76 Bon Homme 144 Gregory 35 Miner 61 Brookings 746 Haakon 30 Minnehaha 5431 Brown 521 Hamlin 172 Moody 242 Brule 36 Hand 19 Pennington 2495 Buffalo 68 Hanson 54 Perkins 34 Butte 210 Harding 12 Potter 8 Campbell 11 Hughes 191 Roberts 200 Charles Mix 214 Hutchinson 93 Sanborn 37 Clark 69 Hyde 13 Shannon 335 Clay 305 Jackson 31 Spink 48 Codington 1755 Jerauld 24 Stanley 21 Corson 96 Jones 8 Sully 20 Custer 93 Kingsbury 166 Todd 359 Davison 578 Lake 781 Tripp 23 Day 277 Lawrence 388 Turner 164 Deuel 134 Lincoln 847 Union 397 Dewey 278 Lyman 154 Walworth 94 Douglas 52 McCook 122 Yankton 823 Edmunds 22 McPherson 30 Ziebach 60

Page 22 of 23 South Dakota e-Labor Bulletin August 2009 National Economic Indicators

July June July % Chg % Chg 2009 2009 2008 Last Month Last Year

Consumer Price Index 215.4 215.7 220.0 -0.2% -2.1% Nonfarm Payroll Employment 131.3 132.7 137.1 -1.1% -4.2% Privately Owned Housing Starts 581 587 933 -1.0% -37.7% Bank Prime Loan Rate 3.25 3.25 5.00 0.0% -35.0%

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