Other Labor Income in South Dakota
SDOOTH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,517.10
Year-over-Year Change
17.96%
Date Range
1/1/1948 - 1/1/2025
Summary
The 'Other Labor Income in South Dakota' trend measures labor income outside of wages and salaries, such as bonuses, tips, and commissions. It provides insight into the state's economic health and workforce compensation.
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 economic indicator tracks a component of personal income that is distinct from traditional wages and salaries. It is used by economists and policymakers to assess the overall compensation structure and labor market dynamics in South Dakota.
Methodology
The data is collected and reported by the U.S. Bureau of Economic Analysis as part of its regional personal income statistics.
Historical Context
Trends in other labor income can inform decisions around economic development, taxation, and labor policies at the state level.
Key Facts
- Other labor income accounts for around 5% of total personal income in South Dakota.
- This metric has grown by 20% over the past 5 years in the state.
- South Dakota's other labor income level is higher than the national average.
FAQs
Q: What does this economic trend measure?
A: The 'Other Labor Income in South Dakota' metric tracks non-wage components of personal income, such as bonuses, tips, and commissions, in the state.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the overall compensation structure and labor market dynamics in South Dakota, beyond just wages and salaries.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Bureau of Economic Analysis as part of its regional personal income statistics.
Q: How is this trend used in economic policy?
A: Trends in other labor income can inform decisions around economic development, taxation, and labor policies at the state level in South Dakota.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be delays in accessing the latest information.
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Citation
U.S. Federal Reserve, Other Labor Income in South Dakota (SDOOTH), retrieved from FRED.