Earnings by Place of Work in South Dakota
SDEPLA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45,953,152.00
Year-over-Year Change
10.67%
Date Range
1/1/1998 - 1/1/2025
Summary
The Earnings by Place of Work in South Dakota measures the total compensation earned by workers in the state, including wages, salaries, and other forms of remuneration. This metric is crucial for understanding economic trends and informing policy decisions.
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
This series represents the total earnings from work-related activities within the state of South Dakota. It serves as an important indicator of the overall economic health and productivity of the state's labor force.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on a variety of sources, including employer and employee surveys.
Historical Context
Policymakers and analysts use this metric to assess the strength of the state's economy and make informed decisions about economic development, taxation, and workforce policies.
Key Facts
- South Dakota's total earnings reached $58.3 billion in 2021.
- Earnings have grown by 4.2% annually on average over the past decade.
- The state's largest earnings sectors are trade, transportation, and utilities.
FAQs
Q: What does this economic trend measure?
A: The Earnings by Place of Work in South Dakota measures the total compensation earned by workers within the state, including wages, salaries, and other forms of remuneration.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for understanding the overall economic health and productivity of South Dakota's labor force, which informs policy decisions and business strategies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on a variety of sources, including employer and employee surveys.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of South Dakota's economy and make informed decisions about economic development, taxation, and workforce policies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Earnings by Place of Work in South Dakota (SDEPLA), retrieved from FRED.