Incomes

South Dakota personal income increased by 1.7 percent, making South Dakota 47th in the nation for growth, according to estimates released today by the U.S. Bureau of Economic Analysis. Nationwide, the average state personal income growth grew to 3.9 percent in 2014, up from 2.0 percent in 2013. The average per capita personal income in South Dakota was $46,345 in 2014, putting the state 21st in the U.S. rankings.

The estimates also show a trend of farm earnings declines which have contributed to relatively slow personal income growth in South Dakota,  Illinois, Indiana, Iowa, Kansas, Mississippi, and Missouri.

Additionally, South Dakota was ranked last in growth of property income (dividends, interest, and rent) with only a 2.5 percent increase from 2013 to 2014.

To read more about these estimates, view the full report here

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Monday, 29 December 2014 17:00

Harding County Leads SD For Wage Growth

Harding County, an oil-producing locale, led South Dakota for wage growth between 2004 and 2013, according to a Wall Street Journal analysis of wage growth and decline across the country.

In Harding County, in South Dakota's northwest corner and along the North Dakota border, wages grew by 44.5 percent, from an annual average of $27,109 in 2004 to $39,170 in 2013. (The 2004 figures have been adjusted for inflation.) An interactive map provides county level data for the entire country.

Nationally, the seven counties with the most wage growth all are in North Dakota's oil patch, and several of them  experienced more than 100 percent wage growth during the decade. In addition, the analysis notes that the middle part of the country has generally experienced the most wage growth, much of it due to energy production.

In South Dakota, Minnehaha County records the highest average annual pay at $41,949, although that county experienced just 4.4 percent growth in average annual pay during the decade. Other counties that made bigger leaps are listed below. 

County % Growth 2004 Average 2013 Average
Campbell County 31.6% $22,310 $29,362
Hyde County 24.5% $28,558 $35,541
Edmunds County 23.8% $27,474 $34,014
Sully County 23.6% $25,380 $31,374

 

A cluster of counties in south centeral South Dakota experienced wage decline.

County % Growth 2004 Average 2013 Average
Mellette County -7.4% $23,965 $22,188
Buffalo County -6.3% $36,941 $34,628
Bennett County -3.8% $28,268 $27,187
Lyman County -0.9% $25,845 $25,620
Jones County -0.7% $25,350 $25,168

 

Find more information about incomes and wages on the South Dakota Dashboard.

 

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By Northern Plains News

South Dakota’s Indian reservation counties remain among the highest poverty rates for school-age children, according to new U.S. Census Bureau estimates released this month.

Nine South Dakota counties were in the top tier of counties nationally with poverty rates between 34.2 and 63.2 percent of the school-aged population. These counties are:
  • Corson
  • Ziebach
  • Dewey
  • Shannon
  • Jackson
  • Mellette
  • Bennett
  • Todd
  • Buffalo

These counties encompass the Cheyenne River, Rosebud, Pine Ridge and Crow Creek reservations.

On the other extreme, a number of South Dakota counties were among those with the lowest rates of poverty for school-aged children at 2.9 to 11.6 percent. These counties are:

  • Lincoln
  • Brown
  • Codington
  • Brookings
  • McCook
  • Hand
  • Hughes
  • Union
  • Campbell

Nationally, according to U.S. Census Bureau estimates, the poverty rate for school-age children had no statistical change in 2,199 counties between 2007 and 2013 while 928 counties experienced an increase and 15 showed a decline.

The statistics are from the Small Area Income and Poverty Estimates program, which, according to the Census Bureau, provides the only up-to-date, single-year income and poverty statistics for all counties and school districts — roughly 3,140 counties and nearly 14,000 school districts nationally.

"County school-age child poverty rates are still above their prerecession levels in metropolitan areas of California, Nevada, Arizona, Florida, Georgia, the Carolinas, as well as the coastal areas of the Northeast and Great Lakes states," said Wesley Basel of the Census Bureau's Small Area Estimates Branch. "State and local programs use these statistics for distributing funds and managing school programs."

The Census Bureau says the findings show there were large concentrations in the South and West of the 972 counties with poverty rates statistically above the national average of 20.8 percent for school-age children

Conversely, 902 counties had poverty rates for school-age children that were statistically lower than the national rate. In five states, 80 percent of counties had rates lower than the national rate: Connecticut, New Hampshire, North Dakota, Rhode Island and Wyoming.

The official poverty statistics for the nation were released in the fall showing a decline in the poverty rate for children under age 18 from the previous year for the first time since 2000.

 

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South Dakota was the only state to report a decline in personal income in the third quarter of 2014, ranking at the bottom of a recent report from the U.S. Bureau of Economic Analysis. Lower corn prices were a major factor in the 0.2 percent decline in total earnings—a $181 million decrease—and affected Nebraska and North Dakota as well, which finished 49th and 48th among the 50 states.

In South Dakota, seasonally adjusted Farm earnings fell by $413 million from the second quarter of 2014, a 1.04 percent drop. The strongest growth sectors on a percentage basis were Construction (up 0.9 percent) and Finance and Insurance (up 0.11 percent). These two sectors also had the largest gains in total earnings, up $34 million and $44 million respectively.

The drop comes on the heels of very strong growth in personal income in South Dakota in the second quarter of 2014—up 2.3 percent, the fifth fastest in the nation.

The recent personal income report is available from the Bureau of Economic Analysis. The Wall Street Journal published an analysis and an interactive map of the data. 

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The housing cost burden in the Sioux Falls metro area is lower than South Dakota's two other metro areas - Rapid City and Sioux City - and is lower than the state as a whole, according to data recently updated by the U.S. Census Bureau. The Rapid City metro area exceeds the statewide average. 

A bit more than 31 percent of households in the Rapid City metro area (Pennington, Meade and Custer counties) were considered burdened by housing costs in 2013, meaning those households pay more than 30 percent of their income for rent or mortgage plus real estate taxes, utilities and other related housing expenses. This compares to rates of 22.4 percent in the Sioux Falls metro area (Lincoln, McCook, Minnehaha, and Turner counties), 23.5 percent for the Sioux City metro area (Union County plus four counties in Iowa and Nebraska) and 24.1 percent for the state of South Dakota as a whole. 

 

More than 73 percent of households statewide earning less than $20,000 per year are burdened by housing costs, while 2.9 percent of households earning more than $75,000 per year are so burdened. For households earning between $20,000 and $35,000, more than 39 percent are burdened. For those earning between $35,000 and $50,000, the rate is more than 19 percent, and it is a bit more than 6 percent for those earning between $50,000 and $75,000. 

Nearly 38 percent of households headed by someone age 24 or younger in South Dakota are burdened by housing costs.  The rate ranges between 22 percent and 25 percent for other age groups. 

For renters, the rate of being burdened by housing costs is more than twice the rate for homeowners, with nearly 40 percent of renters being burdened compared to slightly more than 17 percent for homeowners. 

For many households, the burden of housing costs exceeds 50 percent. In 2013, 9.2 percent of South Dakota households paid more than half their income for housing and related costs. That is the lowest rate since at least 2006. The rate swung between 9.5 percent and 10.5 percent between 2006 and 2012. 

Find more breakdowns for statewide housing cost burden on the South Dakota Dashboard. The interactive charts can be exported in several formats and are free to use.  

At the county level, the top five least burdened counties for housing are all rural. 

No. 1 Lyman County 12.7 %
No. 2 Jackson County 12.8 %
No. 3 Kingsbury County 14.6 %
No. 4 Hyde County 14.7 %
No. 5 Sanborn County 14.7 %

The top five South Dakota counties for highest rate of housing cost burden are either in the Black Hills or home to a university. 

No. 1 Clay County 32.7 %
No.2  Meade County 31.4 %
No. 3 Lawrence County 30.9 %
No. 4 Pennington County 30.4 %
No. 5 Brookings County 29.5 %

Among South Dakota's 27 most populous municipalities, four of the five least burdened cities are in the state's southeastern corner. 

No. 1 Canton 17.3 %
No. 2 North Sioux City 18.5 %
No. 3 Harrisburg 19.1 %
No. 4 Milbank 23.2 %
No. 5 Dell Rapids 23.4 %

The top five South Dakota cities for highest rate of housing cost burden are either in the Black Hills or home to a university.

No. 1 Sturgis 39.1 %
No. 2 Vermillion 37.3 %
No. 3 Hot Springs 35.5 %
No. 4 Spearfish 34.8 %
No. 5 Brookings 33.7 %
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Butte County's economy is smaller but growing faster than Lawrence County's economy, reports the Black Hills Pioneer in a story about the Black Hills Knowledge Network's analysis of personal income growth.

Butte County's income growth is being driven in part by a growth in sales, which is being driven by manufacturing.

In inflation-adjusted numbers, gross sales grew by 10.8 percent in Butte County, while they fell in Lawrence County by 15 percent.

Much of the increase in Butte County was driven by an 82 percent increase in gross sales in manufacturing that added more than $23 million to the local economy and a major increase in mining activity that brought in another $7 million.

The number of jobs in Butte County increased by 4 percent between the fourth quarter of 2012 and the fourth quarter of 2013, while the number of jobs in Lawrence County grew 0.8 percent.

Read more about the Black Hills region's Work & Economy on the Black Hills Knowledge Network.

 

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Monday, 24 November 2014 17:00

Household Income Up for SD Seniors

Household incomes for South Dakota's senior citizens rose for the fourth straight year in 2013 and came closer to the national average than state income levels have been since at least 2006, according to recently updated federal data.

In 2013, the median household income in South Dakota households headed by someone 65 or older was $36,354, compared to the $37,847 median household income for the nation as a whole.

The state's median household income for this age group hovered between $31,000 and $33,000 (in 2013 dollars) between 2006 and 2010 before jumping to a bit more than $34,000 in 2011. In 1999, the median household income for this age group was $33,000 (in 2013 dollars).

Among the 50 states, South Dakota ranked 29th in this category in 2013. Hawaii ranked No. 1 at $55,650, while Mississippi ranked 50th at $29,511.

The increase was dramatic in the Rapid City metro area, going from $36,299 in 2012 to $43,191 in 2013, which places Rapid City ahead of all other South Dakota metro areas and the state as a whole in this category.

Find more information on incomes in South Dakota.

 

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Monday, 17 November 2014 17:00

Household Income Up for SD Seniors

Household incomes for South Dakota's senior citizens rose for the fourth straight year in 2013 and came closer to the national average than state income levels have been since at least 2006, according to recently updated federal data.

In 2013, the median household income in South Dakota households headed by someone 65 or older was $36,354, compared to the $37,847 median household income for the nation as a whole.

The state's median household income for this age group hovered between $31,000 and $33,000 (in 2013 dollars) between 2006 and 2010 before jumping to a bit more than $34,000 in 2011. In 1999, the median household income for this age group was $33,000 (in 2013 dollars).

Among the 50 states, South Dakota ranked 29th in this category in 2013. Hawaii ranked No. 1 at $55,650, while Mississippi ranked 50th at $29,511.

The increase was dramatic in the Rapid City metro area, going from $36,299 in 2012 to $43,191 in 2013, which places Rapid City ahead of all other South Dakota metro areas and the state as a whole in this category.

Find more information on incomes in South Dakota.

Published in Data Items from BHKN
Monday, 17 November 2014 17:00

Poverty Rises in Rapid City Metro Area

The poverty rate for the Rapid City metro area jumped from 11.2 percent in 2012 to 14.5 percent in 2013, the highest rate since 2006. The number of those in poverty increased from 14,306 to 19,997 for the metro area, which includes Pennington, Meade and Custer counties.

See an interactive chart, data breakdowns and exportable CSV files on our Poverty page.


This compares to poverty rates of 9 percent for the Sioux Falls metro area, down from 10 percent in 2012. The rate was 14.8 percent for the Sioux City metro area, down from 15.9 percent, and 14.2 percent for the state of South Dakota, up from 13.8 percent, according to recently released data from the U.S. Census Bureau.


Of the state's micropolitan areas, Vermillion is the clear poverty leader with a rate of 24.7 percent for 2012, the most recent year data is available for this breakdown. Here's a look at the 2012 poverty rate for other micropolitan areas in South Dakota:

  • Yankton - 13.9 percent
  • Spearfish - 13.6 percent
  • Brookings - 13.2 percent
  • Huron - 12.9 percent
  • Mitchell - 11.4 percent
  • Aberdeen - 10.9 percent
  • Watertown - 9.9 percent
  • Pierre - 9.5 percent

Households headed by single parents account for the lion's share of poverty in South Dakota, with more than 41 percent of households headed by single women and more than 22 percent of those headed by single men in poverty in 2013.


Those rates compare to 19.6 percent for non-family households, 5.7 percent for married couples with children, 2.2 percent for married couples with no children and 9.6 percent for other family households.

South Dakota's larges racial minority, Native Americans, suffer poverty at a rate 5 times that of whites, 48 percent compared to 9.5 percent. Other South Dakotans of color have a poverty rate of 23.2 percent.

South Dakotans who earned a bachelor's degree suffer poverty at a rate less than half of those who did not, 5 percent versus 13 percent.


When broken down by age, young adults ages 18-24 in South Dakota suffer the highest poverty rate, 26 percent, followed by children. Of those ages 0-4, 20 percent live in poverty, compared to 19 percent for those ages 5-11 and 16.8 percent for those ages 12-17.


The poverty rate is lowest for adults ages 65-74, at 7.6 percent, but that rate jumps to 13.1 percent for adults 75 and older. South Dakotans ages 25-44 have a poverty rate of 12.9 percent compared to 9.4 percent for those 45-64.

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Monday, 20 October 2014 00:00

Income Bounces Back For Under 25 Set in SD

Households headed by someone under 25 have seen income return to pre-recession levels after dropping off significantly, especially in 2011.

Newly available federal data shows that, in 2013 dollars, these young households took in $31,000 per year in 2008. That income level dropped to less than $26,000 in 2009 and then to $22,000 in 2011. Those incomes came back to more than $27,000 in 2012 and more than $32,000 in 2013, the most recent year for which data is available.

The upward trend has not extended to older households, with those headed by someone age 25-44 ticking down slightly since the recession, to a bit more than $52,000 in 2013, and those headed by someone age 45- 64 stagnant, at about $60,000 annually.

See more information about household incomes on the South Dakota Dashboard.

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