Mining Earnings in South Dakota
SDEMIN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135,711.00
Year-over-Year Change
16.13%
Date Range
1/1/1998 - 1/1/2025
Summary
The Mining Earnings in South Dakota trend measures the average weekly earnings of workers in the mining industry within the state of South Dakota. This data provides valuable insights into the economic health and labor market conditions of the mining sector in the region.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Mining Earnings in South Dakota series tracks the average weekly pay for employees in the mining industry, which includes activities such as oil and gas extraction, coal mining, and metal ore mining. This metric is used by economists and policymakers to monitor wage growth, labor market dynamics, and industry-specific trends within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Labor Statistics through surveys of employers in the mining industry.
Historical Context
Mining earnings data is utilized by government agencies, industry groups, and economic analysts to inform policy decisions, investment strategies, and employment forecasts.
Key Facts
- Mining is a significant industry in South Dakota's economy.
- Average weekly earnings in the mining sector are higher than the statewide average.
- Mining earnings have shown volatility in recent years due to commodity price fluctuations.
FAQs
Q: What does this economic trend measure?
A: The Mining Earnings in South Dakota trend measures the average weekly earnings of workers employed in the mining industry within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into wage growth, labor market conditions, and the overall economic health of the mining sector in South Dakota, which is an important industry in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Labor Statistics through surveys of employers in the mining industry.
Q: How is this trend used in economic policy?
A: Mining earnings data is utilized by government agencies, industry groups, and economic analysts to inform policy decisions, investment strategies, and employment forecasts.
Q: Are there update delays or limitations?
A: The Mining Earnings in South Dakota data is published on a monthly basis, with a typical delay of one to two months from the end of the reference period.
Related Trends
Gross Domestic Product: Health Care and Social Assistance (62) in South Dakota
SDHLTHSOCASSNGSP
Gross Domestic Product: Educational Services (61) in South Dakota
SDEDCATNGSP
Estimate of Median Household Income for South Dakota
MHISD46000A052NCEN
Average Weekly Hours of All Employees: Professional and Business Services in South Dakota
SMU46000006000000002
Total Unemployed, as a Percent of the Civilian Labor Force for South Dakota
U3UNEM3SD
Gross Domestic Product: Rental and Leasing Services and Lessors of Nonfinancial Intangible Assets (532-533) in South Dakota
SDRENTNGSP
Citation
U.S. Federal Reserve, Mining Earnings in South Dakota (SDEMIN), retrieved from FRED.