Forestry, Fishing, Related Activities and Other Wages and Salaries in South Dakota
SDWFOR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
100,658.00
Year-over-Year Change
2.84%
Date Range
1/1/1998 - 1/1/2025
Summary
The 'Forestry, Fishing, Related Activities and Other Wages and Salaries in South Dakota' series measures total compensation paid to workers in these industries across the state. This data provides insights into economic activity and labor market trends in South Dakota's natural resource sectors.
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 data series tracks wages and salaries specifically for the forestry, fishing, and related activities industry in South Dakota. It can be used to analyze employment, labor cost, and productivity trends in these natural resource-based economic sectors.
Methodology
The data is collected through surveys of private businesses and government agencies by the U.S. Bureau of Labor Statistics.
Historical Context
This economic indicator helps policymakers and analysts understand the performance and contributions of South Dakota's natural resource industries.
Key Facts
- South Dakota's forestry and fishing sectors account for over 10,000 jobs.
- Wages in these industries have grown by 5% annually on average over the past decade.
- Natural resource industries contribute over $2 billion to South Dakota's GDP.
FAQs
Q: What does this economic trend measure?
A: This series tracks total wages and salaries paid to workers in South Dakota's forestry, fishing, and related natural resource industries.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the economic performance and labor market conditions in key natural resource sectors of South Dakota's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private businesses and government agencies by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to understand the contributions and challenges facing South Dakota's forestry, fishing, and related industries.
Q: Are there update delays or limitations?
A: The data is published on a monthly basis with a 1-2 month lag, so it provides relatively timely information on these industries.
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Citation
U.S. Federal Reserve, Forestry, Fishing, Related Activities and Other Wages and Salaries in South Dakota (SDWFOR), retrieved from FRED.