INCOMES IN SOUTH DAKOTA

  • Matching historic trends, South Dakota's median household income in 2016 of $$54,567 remained below the nationwide median $57,617. But the gap was much smaller than before the Great Recession. In 1999, South Dakota's median income of about $50,000 compared to about $60,000 nationally. 

  • Lincoln County ranks No. 1 among South Dakota's 66 counties, with a median household income of $84,610 in 2016, while Buffalo County ranks 66th, at $22,500.

  • Nearly 111,000 South Dakotans lived in poverty in 2016, accounting for 13.3% of the state's population. That's an increase from about 107,000 in poverty in 2012.

  • More than 35,000 of those in poverty in 2016 were children under age 18, while over 14,000 were senior citizens. The remaining 61,182 were adults between the ages of 18 and 64. 

Personal income in South Dakota rose 0.1% between the second and third quarters of 2017, compared to a 0.7% increase for the nation, according to data released today by the U.S. Bureau of Economic Analysis (BEA). After ranking 44th in the nation in the second quarter of the year, the Rushmore State’s personal income growth was the slowest in the nation in the third quarter.

South Dakota’s disappointing performance was driven primarily by a 0.1% decline in earnings (wages and salaries, and proprietor’s income). Investment income rose 0.1%, and transfer receipts—payments under programs like Social Security—rose 0.4%.

South Dakota typically sees a surge in farm incomes during the third quarter of the year, but this year the state experienced a large drop in farm income due to severe drought conditions and low commodity prices. As a result farm incomes declined by 24.19% ($173 million) from the second to the third quarter of 2017. The state also experienced marginal declines in forestry, fishing and related activities (-0.54%), construction (-0.43%), retail trade (-0.23%), and arts, entertainment and recreation (-1.61%).

Transportation and warehousing (+2.22%) and information (+1.35%) were the largest contributors to personal income growth in the third quarter. Earnings in the government sector grew across all contributing sub-sectors including federal (+1.29%), military (+0.60%), and state and local (+0.53%).

The following sectors also contributed to third quarter growth:

Sector Percent
Management +1.30
Health Care and Social Assistance +1.12
Wholesale Trade  +1.06
Administrative and Waste Management Services +1.03
 Durable Goods and Manufacturing +0.87
Finance and Insurance +0.87
 Nondurable Goods Manufacturing +0.73
Mining +0.57
Utilities +0.57
Published in Dashboard newsfeed

Divergent trends in median household income and poverty rates occurred in two of South Dakota’s metropolitan areas, according to federal data. While poverty rates declined and median household incomes increased in the Sioux Falls Metropolitan Statistical Area (MSA), the opposite was true in the Rapid City MSA.

Rapid City Metropolitan Area

Alongside a rise in poverty rates in the Rapid City MSA—comprised by Custer, Meade and Pennington Counties—median household incomes declined. In 2015, the median household income for the Rapid City MSA was $53,477. In 2016, the median household income level dropped to $51,097. The largest drop in median income occured in Custer County, where median household incomes declined by $3,763, from $54,996 in 2015 to $51,223 in 2016. Similar declines occurred in Meade and Pennington County, which can be viewed in the table below:

Median Household Income
   Meade Custer Pennington
2015 $55,218 $54,996 $52,878
2016  $53,976 $51,223 $51,508

 

Poverty Rates
   Meade Custer Pennington
2015  9.9% 10.7% 12.2%
2016  9.9% 10.6% 14.5%

The increase in poverty rates and decline in incomes for the Rapid City MSA were opposite the trends seen across the state and its metropolitan areas in 2016. Statewide, the poverty rate fell slightly from 13.7% in 2015 to 13.3% in 2016. Median household incomes increased from $53,668 to $54,467 during the same timeframe. Additionally, the Sioux Falls and Sioux City MSAs saw slight decreases in poverty from 2015 to 2016.

Sioux Falls Metropolitan Area

The poverty rate in the Sioux Falls MSA dropped from 11.5% in 2015 to 8.9% in 2016. Median household incomes also increased from $60,602 in 2015 to $63,931 in 2016. Similar decreases in poverty and increases in median household incomes were true in the counties comprising the Sioux Falls MSA:

Median Household Income
   Lincoln McCook Minnehaha Turner
 2015  $78,522 $57,096 $56,309 $54,819
 2016  $84,610 $58,975 $60,244 $58,802

 

Poverty Rates
   Lincoln McCook Minnehaha Turner
 2015  4.3% 9.5% 12.2% 10.0%
 2016  3.7% 10.0% 9.9% 9.2%

 

 

 

Published in Dashboard newsfeed

In the first quarter of 2017, personal income grew by 0.6 percent in South Dakota, according to a recent release from the Bureau of Economic Analysis. This was one of the slowest quarterly growth rates in the country. In fact, South Dakota ranked 44th in the nation.

A major contributing factor to slow personal income growth in the Rushmore State was a contraction in the farming industry. During the first quarter, personal income in the farming industry actually declined by 0.5 percent. The limited personal income growth that did occur was driven by the construction industry, which increased by $87 million in the first quarter. Federal, state and local governments also contributed to personal income growth, rising by $43 million and $37 million, respectively.

Regionally, South Dakota outperformed Iowa, North Dakota, Minnesota and Nebraska. Personal income in North Dakota grew by just 0.2 percent while personal income in Nebraska declined by 0.1 percent, ranking the state last in the nation for personal income growth in the first quarter.  First quarter personal income growth for the region can be viewed in the chart below: 

 State Percent Change from Previous Quarter National Ranking
 Montana 1.2 9
Wyoming 1.1 11
South Dakota 0.6 44
Minnesota 0.5 47
North Dakota 0.2 48
Iowa 0.2 49
Nebraska -1.2 50

For more information on personal income, visit the Bearfacts page on the Bureau of Economic Analysis website.

Published in Dashboard newsfeed

Real personal income in Sioux Falls grew faster than in all but three other metropolitan areas in the country in 2015, according to data released this week by the US Bureau of Economic Analysis (BEA). Adjusted for inflation, income received from all sources—including wages, rents and property incomes, and personal transfer receipts like Social Security or Veterans’ payments—rose by 6.9 percent in Sioux Falls, compared to 4.1 percent for the state as a whole.

South Dakota’s growth in real personal income matched the nation as a whole and exceeded all neighboring states. With a 2.3 percent drop, North Dakota was the only state in the union to experience a decline in real personal income.

Growth in real per capita personal income in Sioux City was 5.4 percent, compared to 3.3 percent in the Rapid City metropolitan region.

On a non-adjusted or nominal basis, per capita income in the Sioux Falls metropolitan area in 2015 was $53,769, compared to $50,221 in 2014. It rose from $44,134 to $46,514 in the Sioux City metropolitan region and from $43,481 to $44,775 in the Rapid City metropolitan area.

According to BEA data on the South Dakota Dashboard, economic growth (GDP) in each of the state’s three metropolitan area in 2015 lagged these increases in real personal income. In 2015, GDP increased 2.8 percent in Sioux City, 2.2 percent in Sioux Falls, and 1.0 percent in Rapid City. 

Published in Dashboard newsfeed

Personal income in the Rushmore State grew by just 1.2 percent in 2016, ranking South Dakota No. 45 in the nation, according to a release from the Bureau of Economic Analysis (BEA). Overall, states experienced 3.6 percent personal income growth in 2016.

A downturn in farm earnings was responsible for slow growth in South Dakota and other Corn Belt states, while sharp declines in mining led to negative personal income growth in neighboring Wyoming and North Dakota. Wyoming experienced the slowest growth in both the region and nation with a drop of 1.7 percent. Minnesota experienced the highest personal income growth in the region with an increase of 3.0 percent, ranking the state 32nd in the nation. An overview of personal income in the region can be seen in the table below: 

State Percentage Ranking
Minnesota  3.0 32
Nebraska  2.8 38
Montana  2.3 41
Iowa  2.3 42
South Dakota  1.2 45
North Dakota  -1.5 49
Wyoming  -1.7 50

A significant decline of 2.6 percent in personal income growth from farm earnings occurred in South Dakota in 2016. Total earnings from the farming industry fell by nearly 57 percent or $1.056 billion dollars. Meanwhile, the state’s retail economy was undoubtedly affected by a $1.541 billion drop in personal income in Wyoming and North Dakota.

Despite the headwinds in agriculture and mining, other sectors in the South Dakota economy experienced significant positive growth. The biggest winners were construction, where personal income rose by $200 million or 10.1 percent and finance and insurance, which grew by $134 million, up 5.5 percent. Personal income growth derived from state and local government also rose by $160 million, up nearly 4.8 percent.  The top ten industries contributing to personal income growth in South Dakota can be viewed below: 

Industry Growth in Dollars Percentage
Construction  200,000,000 10.1
Management  45,000,000 8.4
Health Care and Social Assistance  275,000,000 6.8
Utilities  14,000,000 6.3
 Professional Services  74,000,000 5.8
Accommodation and Food Services  53,000,000 5.6
 Finance and Insurance  134,000,000 5.5
 State and Local Government  160,000,000 4.8
 Federal Government (Civilian)  160,000,000 4.4
 Real Estate  21,000,000 4.2

To learn more about these estimates and see breakdowns for all major industries, view the full BEA release

Published in Dashboard newsfeed

Personal income in South Dakota rose 1.4 percent between the second and third quarters of 2016, compared to a 1.1 percent increase for the nation, according to data released this week by the U.S. Bureau of Economic Analysis (BEA). After ranking 47th in the nation in the second quarter of the year, South Dakota’s personal income growth led all other states in the third quarter.

South Dakota’s growth was driven primarily by increases in wages and salaries and proprietor’s income, as compared to income from investments or government transfer payments under programs like Social Security. Improvements in farm income contributed 19 percent to the state’s total growth, followed by Finance and Insurance (17 percent), Health Care and Social Assistance (16 percent) and Government (14 percent).

South Dakota typically sees a surge in farm incomes during the third quarter of the year, and this year was no exception. Farm income grew by $80 million or 10.82 percent compared to the second quarter of the year. Other fast-growing sectors included Mining (up 3.48 percent), Transportation and Warehousing (up 3.27 percent), Management (up 3.57 percent), and Arts, Entertainment and Recreation (up 3.48 percent). No sectors experienced a decline in the third quarter. 

Published in Dashboard newsfeed

Total personal income in South Dakota rose by 4.8 percent in 2015 according to new figures released by the Bureau of Economic Analysis. Per capita personal income growth across the state was slightly lower at 4.2 percent.

The new data also shows that changes in per capita personal income varied dramatically across the state. Sully County experienced the largest drop in per capita personal income growth in the nation, a decline of 30.3 percent. Nearby Lyman County, which experienced a large decline of 22.8 percent in per capita personal income in 2014, made a substantial gain of 12.4 percent in 2015. Meanwhile, in Ziebach County per capita personal income fell by 22.7 percent after rising 45.0 percent in 2014.

Counties in southeastern South Dakota led the state in personal income growth in 2015. While most of the rest of the state experienced declines, these counties in southeastern South Dakota had double-digit increases in per capita personal income growth.

Counties in South Dakota’s metropolitan areas experienced less dramatic swings in personal income. In the Sioux Falls metropolitan area, for example, Minnehaha and Lincoln counties saw total increases of 7.3 and 10.3 percent in personal income. However, per capita personal income was slightly lower at 5.8 and 7.5 percent, respectively.

Union County, a part of the Sioux City metropolitan area in the heart of the Corn Belt, had personal income growth of 7.3 percent and an increase in per capita personal income of 8.1 percent.

In the western part of the state, Pennington, Meade and Custer counties, which make up the Rapid City metropolitan area, enjoyed personal income increases of 3.7, 2.1, and 1.9 percent. Per capita personal income also increased by 3.3, 1.8, and 1.9 percent respectively.

In Miner County, total personal income increased by 1.1 percent, but per capita personal income grew by 4.4 percent, making it the only county in the state to enjoy a decline in income inequality. 

Published in Incomes
Wednesday, 23 November 2016 00:00

Data Trends We're Grateful For This Thanksgiving

This Thanksgiving, the Black Hills Knowledge Network and South Dakota Dashboard staff would like to express their thanks and gratitude for all the contributions and support they have received from organizations throughout the Black Hills and across the Rushmore State. Thanks and appreciation are due to the Rapid City Public Library and 12 additional regional partner librariesRapid City Convention and Visitor’s BureauRapid City Chamber of CommerceSouth Dakota State University Data CenterMinnesota CompassNorth Dakota CompassSouth Dakota Kids CountWall Economic DevelopmentRushmore Region Economic Development and Wilder Research. We are also thankful for the 33,045 visitors to the Black Hills Knowledge Network and 8,852 visitors to the South Dakota Dashboard so far this year!

With the assistance of the aforementioned contributing partners, we are able to share some South Dakota data trends from 2015 for which we are thankful. 

1.       Fewer South Dakotans Living in Poverty in 2015

In 2015, poverty rates across South Dakota and the nation declined slightly to 13.7 percent and 14.7 percent respectively, according to recent federal data. The largest decrease was seen in single women with children, which was down five percent from 2014. 

SD Poverty Rates

2.       Cautious Optimism Seen in 2015 South Dakota Median Income

Following the national trend, South Dakotans’ median household income rose for the second year in a row to $53,017. Since 2006, South Dakota's median household income—in inflation-adjusted 2015 dollars—has hovered around $50,000, with a low of $49,645 in 2007 and a high of $53,017 in 2015. That compares to $50,191 in 1999 (in inflation-adjusted dollars). 

SD Median Income

3.       Median Household Income for Seniors on the Rise in South Dakota in 2015

Median household incomes for South Dakotans over the age of 65 increased by over $2,600, according to recent federal data. South Dakotans over the age of 65 had median household incomes of $37,896 in 2015, but still fell short of the national average of $40,971.

SD Median Income 65

Published in Dashboard newsfeed

Median household incomes for South Dakotans over the age of 65 increased by over $2,600, according to recent federal data. South Dakotans over the age of 65 had median household incomes of $37,896 in 2015, but still fell short of the national average of $40,971.

The increase in median household income for South Dakota seniors placed the Rushmore State at No. 36 in the nation—up from No. 43 in 2014.

Regionally, South Dakota outperformed North Dakota, which ranked No. 43 in the nation with a $36,971 median household income for individuals over 65 years of age. Minnesota placed first regionally at No. 14 with a $42,316 median household income for the same age group. 

State 2015

2014

United States $40,971 $39,186
South Dakota $37,896 $35,240
Wyoming $41,057 $40,773
Nebraska $39,112 $37,174
Iowa $40,144 $37,099
Minnesota $42,316 $40,041
North Dakota $36,971 $37,196
Montana $37,896 $35,755

While Rapid City and Sioux City posted increases in the median household income of seniors, rates in Sioux Falls took a dip. In 2014, the median household income for Sioux Falls seniors was $39,473 compared to $37,896 in 2015. Rapid City posted an increase from $36,250 in 2014 to $37,896 in 2015. Sioux City realized a similar increase, rising from $32,688 in 2014 to $34,842 in 2015. 

Published in Dashboard newsfeed

Although still higher than pre-recession levels, poverty rates across South Dakota and the nation declined slightly in 2015 to 13.7 percent and 14.7 percent respectively, according to recent federal data.

Overall poverty rates by household type were on the decline in 2015. The largest decrease was seen in single women with children, which was down five percent from 2014. A recent peak in poverty rates for this household group was seen in 2013 at 41.2 percent. Rates declined slightly to 39.3 percent in 2014, and continued to drop in 2015 to 34.3 percent. While fewer single mothers were living below the poverty level than in recent years, they were still the most challenged household group, with 15.2 percent more single mothers living in poverty than single fathers.

The only demographic group to see an increase in poverty rates was individuals with one or more disabilities. In 2015, 22.7 percent of individuals with disabilities in South Dakota lived under the federal poverty level, up from 21.9 percent in 2014. Poverty rates for individuals with no disability declined slightly to 12.5 from 13.1 percent in 2014.

Women were also more likely to live in poverty than men, at 15.4 percent compared to 12.5 percent in 2015. The poverty rate for women in South Dakota stayed the same in 2015 while the rate for South Dakotan men decreased by 0.9 percent. 

South Dakotans without a college degree have nearly a four times greater risk of living in poverty than South Dakotans with a college degree. Poverty rates for people without a college degree dropped marginally in 2015 to 13.1 percent compared to 13.3 percent in 2014. Poverty rates of South Dakotans with a college degree also declined slightly in 2015 to 3.1 percent, down from 3.3. percent in 2014. 

Published in Dashboard newsfeed
Page 1 of 6

525 University Loop, Suite 202
Rapid City, SD 57701
(605) 716-0058   [email protected]