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News Release Information

24-1561-CHI
Wednesday, July 31, 2024

Contacts Technical information: Media contact:
  • (312) 353-1138

Business Employment Dynamics in South Dakota — Fourth Quarter 2023

From September 2023 to December 2023, gross job gains from opening and expanding private-sector establishments were 25,195, while gross job losses from closing and contracting private-sector establishments in South Dakota were 22,395, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Jason Palmer noted that the difference between the number of gross job gains and the number of gross job losses yielded a net employment gain of 2,800 jobs in the private sector during the fourth quarter of 2023. During the previous quarter, gross job losses exceeded gross job gains by 148. (See chart 1.)


The change in the number of jobs over time is the net result of increases and decreases in employment that occur at all private businesses in the economy. Business Employment Dynamics (BED) statistics track these changes in employment at private-sector establishments from the third month of one quarter to the third month of the next. The difference between the number of gross job gains and the number of gross job losses is the net change in employment. (See the Business Employment Dynamics Technical Note.)

Gross job gains

In the fourth quarter of 2023, gross job gains represented 6.6 percent of private-sector employment in South Dakota; nationally, gross job gains accounted for 5.9 percent of private-sector employment. (See chart 2.) Gross job gains are the sum of increases in employment due to expansions at existing establishments and the addition of new jobs at opening establishments. In South Dakota, gross job gains at expanding establishments totaled 20,553 in the fourth quarter of 2023, an increase of 1,454 jobs compared to the previous quarter. (See table 1.) Opening establishments accounted for 4,642 jobs gained in the fourth quarter of 2023, a decrease of 52 jobs from the previous quarter.


Gross job losses

In the fourth quarter of 2023, gross job losses represented 5.9 percent of private-sector employment in South Dakota; nationally, gross job losses accounted for 5.6 percent of private-sector employment. (See chart 3.) Gross job losses are the result of contractions in employment at existing establishments and the loss of jobs at closing establishments. In South Dakota, contracting establishments lost 18,487 jobs in the fourth quarter of 2023, a decrease of 1,179 jobs from the prior quarter. Closing establishments lost 3,908 jobs, a decrease of 367 jobs from the previous quarter.


Industries

Gross job gains exceeded gross job losses in 4 of the 7 published industry sectors in South Dakota in the fourth quarter of 2023. Leisure and hospitality had the largest net job increase over the quarter, with a gain of 818 jobs. This was the result of 5,720 gross job gains and 4,902 gross job losses. Professional and business services showed a net loss of 779 jobs, the largest loss of any sector in the state.

For more information

The BED data series include gross job gains and gross job losses by industry subsector, for the 50 states, the District of Columbia, Puerto Rico, and the Virgin Islands, as well as gross job gains and gross job losses at the firm level by employer size class. BED data for the states have been included in table 2 of this release. Additional information is available online at the Business Employment Dynamics Home.

The Business Employment Dynamics for First Quarter 2024 are scheduled to be released on Wednesday, October 30, 2024.

Revisions to Business Employment Dynamics (BED) Data

The release of First Quarter 2024 Business Employment Dynamics data, scheduled for October 30, 2024, will incorporate annual revisions in accordance with standard procedures. The revisions will include the previous four quarters of not seasonally adjusted data and five years of seasonally adjusted data.


Technical Note

The Business Employment Dynamics (BED) data are a product of a federal-state cooperative program known as Quarterly Census of Employment and Wages (QCEW). The BED data are compiled by the U.S. Bureau of Labor Statistics (BLS) from existing QCEW records.

More information on formal definitions of the data used in this release, along with coverage, concepts, and methodology, can be found in the Business Employment Dynamics Technical Note.

Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: (202) 691-5200; Telecommunications Relay Service: 7-1-1.

Table 1. Private-sector gross job gains and losses by industry, South Dakota, seasonally adjusted
Category Gross job gains and losses
(3 months ended)
Gross job gains and losses
as a percent of employment
(3 months ended)
Dec.
2022
Mar.
2023
June
2023
Sept.
2023
Dec.
2023
Dec.
2022
Mar.
2023
June
2023
Sept.
2023
Dec.
2023

Total private (1)

Gross job gains

23,909 27,136 25,414 23,793 25,195 6.5 7.2 6.8 6.3 6.6

At expanding establishments

19,097 22,252 21,319 19,099 20,553 5.2 5.9 5.7 5.1 5.4

At opening establishments

4,812 4,884 4,095 4,694 4,642 1.3 1.3 1.1 1.2 1.2

Gross job losses

23,831 21,836 23,210 23,941 22,395 6.5 5.9 6.2 6.3 5.9

At contracting establishments

19,855 17,491 19,197 19,666 18,487 5.4 4.7 5.1 5.2 4.9

At closing establishments

3,976 4,345 4,013 4,275 3,908 1.1 1.2 1.1 1.1 1.0

Net employment change (2)

78 5,300 2,204 -148 2,800 0.0 1.3 0.6 0.0 0.7

Construction

Gross job gains

3,101 3,797 3,381 2,972 3,115 11.8 13.7 12.0 10.7 10.8

At expanding establishments

2,426 3,038 2,806 2,390 2,461 9.2 11.0 10.0 8.6 8.5

At opening establishments

675 759 575 582 654 2.6 2.7 2.0 2.1 2.3

Gross job losses

2,799 2,582 2,845 2,850 2,631 10.6 9.3 10.2 10.2 9.1

At contracting establishments

2,319 2,073 2,232 2,255 2,140 8.8 7.5 8.0 8.1 7.4

At closing establishments

480 509 613 595 491 1.8 1.8 2.2 2.1 1.7

Net employment change (2)

302 1,215 536 122 484 1.2 4.4 1.8 0.5 1.7

Wholesale trade

Gross job gains

1,159 1,067 1,160 1,043 1,157 5.2 4.8 5.3 4.7 5.1

At expanding establishments

936 894 1,011 894 945 4.2 4.0 4.6 4.0 4.2

At opening establishments

223 173 149 149 212 1.0 0.8 0.7 0.7 0.9

Gross job losses

1,090 1,135 879 1,061 859 4.9 5.1 4.0 4.7 3.9

At contracting establishments

815 906 683 856 734 3.7 4.1 3.1 3.8 3.3

At closing establishments

275 229 196 205 125 1.2 1.0 0.9 0.9 0.6

Net employment change (2)

69 -68 281 -18 298 0.3 -0.3 1.3 0.0 1.2

Retail trade

Gross job gains

3,009 3,320 3,183 2,850 2,944 5.7 6.2 5.9 5.3 5.5

At expanding establishments

2,712 3,016 2,837 2,320 2,667 5.1 5.6 5.3 4.3 5.0

At opening establishments

297 304 346 530 277 0.6 0.6 0.6 1.0 0.5

Gross job losses

2,952 2,585 3,198 3,032 3,130 5.6 4.8 5.9 5.7 5.8

At contracting establishments

2,737 2,332 2,937 2,735 2,851 5.2 4.3 5.4 5.1 5.3

At closing establishments

215 253 261 297 279 0.4 0.5 0.5 0.6 0.5

Net employment change (2)

57 735 -15 -182 -186 0.1 1.4 0.0 -0.4 -0.3

Financial activities

Gross job gains

1,160 1,224 1,367 1,333 1,036 4.2 4.4 5.0 4.8 3.8

At expanding establishments

799 968 1,144 1,082 789 2.9 3.5 4.2 3.9 2.9

At opening establishments

361 256 223 251 247 1.3 0.9 0.8 0.9 0.9

Gross job losses

1,322 1,284 1,319 1,413 1,209 4.8 4.7 4.8 5.1 4.4

At contracting establishments

1,054 940 1,037 999 870 3.8 3.4 3.8 3.6 3.2

At closing establishments

268 344 282 414 339 1.0 1.3 1.0 1.5 1.2

Net employment change (2)

-162 -60 48 -80 -173 -0.6 -0.3 0.2 -0.3 -0.6

Professional and business services

Gross job gains

2,989 2,984 3,221 3,007 2,610 8.0 8.1 8.6 8.0 7.0

At expanding establishments

1,973 2,210 2,407 2,135 1,776 5.3 6.0 6.4 5.7 4.8

At opening establishments

1,016 774 814 872 834 2.7 2.1 2.2 2.3 2.2

Gross job losses

3,320 2,747 2,675 3,166 3,389 8.9 7.4 7.2 8.4 9.1

At contracting establishments

2,575 1,885 1,966 2,336 2,522 6.9 5.1 5.3 6.2 6.8

At closing establishments

745 862 709 830 867 2.0 2.3 1.9 2.2 2.3

Net employment change (2)

-331 237 546 -159 -779 -0.9 0.7 1.4 -0.4 -2.1

Leisure and hospitality

Gross job gains

5,180 6,235 5,283 5,490 5,720 10.7 12.7 10.7 11.2 11.5

At expanding establishments

3,976 5,026 4,187 4,375 4,575 8.2 10.2 8.5 8.9 9.2

At opening establishments

1,204 1,209 1,096 1,115 1,145 2.5 2.5 2.2 2.3 2.3

Gross job losses

5,117 4,942 5,747 5,463 4,902 10.6 10.1 11.6 11.1 9.8

At contracting establishments

4,400 3,906 4,692 4,483 4,058 9.1 8.0 9.5 9.1 8.1

At closing establishments

717 1,036 1,055 980 844 1.5 2.1 2.1 2.0 1.7

Net employment change (2)

63 1,293 -464 27 818 0.1 2.6 -0.9 0.1 1.7

Other services (3)

Gross job gains

1,017 1,103 1,046 978 979 8.3 8.9 8.3 7.7 7.6

At expanding establishments

786 912 885 711 810 6.4 7.4 7.0 5.6 6.3

At opening establishments

231 191 161 267 169 1.9 1.5 1.3 2.1 1.3

Gross job losses

918 906 857 956 784 7.6 7.3 6.9 7.5 6.1

At contracting establishments

740 698 662 802 641 6.1 5.6 5.3 6.3 5.0

At closing establishments

178 208 195 154 143 1.5 1.7 1.6 1.2 1.1

Net employment change (2)

99 197 189 22 195 0.7 1.6 1.4 0.2 1.5

Footnotes:
(1) Includes unclassified sector not shown separately.
(2) The net employment change is the difference between total gross job gains and total gross job losses. See the Technical Note for further information.
(3) Except public administration.

Table 2. Private-sector gross job gains and losses as a percent of total employment by state, seasonally adjusted
Category Gross job gains as a percent of employment
(3 months ended)
Gross job losses as a percent of employment
(3 months ended)
Dec.
2022
Mar.
2023
June
2023
Sept.
2023
Dec.
2023
Dec.
2022
Mar.
2023
June
2023
Sept.
2023
Dec.
2023

United States(1)

6.3 6.2 6.2 5.8 5.9 5.9 5.4 5.9 5.9 5.6

Alabama

6.6 6.4 5.9 5.9 6.2 6.1 5.5 5.7 6.0 5.8

Alaska

10.9 10.4 11.0 8.5 10.1 9.2 8.0 8.9 10.5 9.9

Arizona

6.6 5.9 7.0 6.7 6.6 6.0 5.4 6.5 5.9 6.9

Arkansas

6.2 5.8 5.8 5.6 6.1 5.2 5.0 6.0 5.7 5.3

California

6.6 6.1 6.7 6.2 6.3 6.6 6.4 6.4 6.5 6.5

Colorado

7.6 7.2 7.3 5.5 8.4 6.9 6.5 6.6 6.2 7.5

Connecticut

5.9 6.1 6.4 5.8 5.6 5.9 5.3 5.7 6.2 5.7

Delaware

7.0 6.7 6.0 6.0 6.2 7.5 5.2 5.7 6.5 5.9

District of Columbia

5.6 5.9 5.4 5.5 5.2 5.5 4.8 5.3 5.4 5.6

Florida

6.2 6.3 6.8 6.5 5.9 6.0 5.6 5.8 5.8 5.8

Georgia

6.7 6.2 6.4 6.1 6.1 5.9 5.8 6.5 6.1 5.7

Hawaii

6.0 5.5 5.7 5.3 6.1 4.9 5.0 5.2 6.9 5.0

Idaho

8.4 7.9 7.9 7.3 8.5 6.9 7.5 7.5 8.2 5.8

Illinois

5.4 5.8 5.4 4.8 4.9 5.1 4.8 5.3 5.5 5.1

Indiana

5.7 5.5 5.5 5.8 5.6 5.2 5.0 6.1 5.8 5.3

Iowa

6.4 6.0 6.0 5.5 6.0 6.2 5.4 5.9 5.8 5.7

Kansas

6.3 6.1 6.1 5.7 5.8 5.6 5.4 6.0 6.0 5.4

Kentucky

6.0 6.1 5.6 5.7 5.7 5.3 4.9 5.9 5.5 5.2

Louisiana

6.1 6.3 6.1 6.2 6.2 6.2 5.6 6.4 6.0 6.1

Maine

7.4 7.7 7.6 6.8 7.3 6.8 6.2 7.6 7.8 7.0

Maryland

6.6 6.8 6.7 6.4 6.3 6.9 5.6 6.3 6.5 5.9

Massachusetts

5.5 5.8 5.9 5.4 5.3 5.8 4.7 5.7 6.1 5.6

Michigan

5.9 5.7 5.9 5.2 5.5 5.2 4.9 5.3 5.9 5.6

Minnesota

5.9 5.7 6.0 3.1 6.8 5.8 4.9 5.6 4.2 7.0

Mississippi

6.8 6.1 6.3 6.2 6.1 6.2 5.7 6.6 6.2 5.7

Missouri

6.1 6.5 5.9 5.6 6.0 5.8 5.1 5.9 5.8 5.6

Montana

9.2 8.7 7.8 7.7 8.8 7.8 7.1 8.4 8.5 7.2

Nebraska

6.0 6.3 6.0 6.0 5.9 5.7 5.1 5.6 5.9 5.6

Nevada

6.4 6.2 6.6 6.5 6.6 6.1 5.7 6.0 5.5 5.1

New Hampshire

6.7 7.0 6.7 5.9 6.2 6.0 5.9 6.3 6.7 5.9

New Jersey

6.8 6.1 6.8 5.9 5.9 5.9 5.7 5.9 5.9 5.8

New Mexico

6.7 6.8 6.4 6.1 6.9 6.2 5.9 6.2 6.7 5.8

New York

5.9 6.5 6.3 5.8 5.8 6.0 5.1 5.7 6.1 5.7

North Carolina

6.6 6.4 6.1 5.6 6.1 5.7 5.3 5.7 6.2 4.7

North Dakota

6.4 7.6 6.9 6.6 6.7 6.7 5.6 6.7 6.6 6.3

Ohio

5.9 5.8 5.6 5.2 5.3 5.7 4.9 5.7 5.7 5.2

Oklahoma

6.6 6.3 6.2 6.2 6.1 5.9 5.3 6.0 6.0 5.7

Oregon

6.5 7.3 6.4 6.1 6.1 6.2 6.1 6.9 6.9 6.3

Pennsylvania

5.5 5.5 5.2 5.2 5.2 5.2 4.6 5.5 5.2 4.9

Rhode Island

6.9 7.5 6.7 6.5 6.8 6.4 5.9 7.0 6.8 6.4

South Carolina

6.9 6.8 6.4 6.8 6.2 6.2 5.8 6.8 5.7 5.4

South Dakota

6.5 7.2 6.8 6.3 6.6 6.5 5.9 6.2 6.3 5.9

Tennessee

5.8 5.9 5.9 2.7 4.9 5.6 5.0 5.5 4.2 4.6

Texas

6.2 5.9 5.8 5.7 5.7 5.3 5.0 5.4 5.5 5.2

Utah

6.9 7.0 6.8 6.8 6.4 6.6 6.2 6.2 6.5 6.2

Vermont

7.8 8.2 7.4 6.3 7.2 7.0 6.0 7.5 8.0 6.6

Virginia

6.2 6.2 6.0 5.8 5.9 5.8 5.2 5.8 6.0 5.6

Washington

5.9 6.4 6.0 5.4 6.0 5.3 5.5 5.6 6.0 5.2

West Virginia

6.6 7.1 6.1 6.5 6.1 6.4 5.3 6.1 6.5 6.5

Wisconsin

6.0 6.0 5.6 5.2 5.4 5.5 4.9 5.9 5.9 5.1

Wyoming

9.2 8.9 8.4 8.2 8.8 7.9 7.8 8.7 8.2 8.3

Puerto Rico

6.6 5.1 5.8 5.7 4.9 6.1 5.7 4.9 5.4 4.8

Virgin Islands

5.9 7.5 7.4 8.2 5.7 4.7 6.5 6.8 7.1 5.8

Footnotes
(1) Totals for the United States do not include data for Puerto Rico or the Virgin Islands. The sum of the states will not necessarily add to the U.S. total because of the independent seasonal adjustment of each state.

 

Last Modified Date: Wednesday, July 31, 2024