All Employees: Private Service Providing in South Dakota
SMS46000000800000001 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
313.60
Year-over-Year Change
1.23%
Date Range
1/1/1990 - 6/1/2025
Summary
This economic indicator measures the total number of private service-providing employees in the state of South Dakota. It is a key gauge of the state's economic activity and employment trends.
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 All Employees: Private Service Providing in South Dakota metric tracks the total employment levels in the private service sector, which includes industries like trade, transportation, utilities, information, financial activities, professional and business services, education, health care, and leisure and hospitality.
Methodology
The data is collected through surveys of private establishments by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is used by economists, policymakers, and businesses to assess the health and direction of South Dakota's economy.
Key Facts
- South Dakota has a population of around 885,000 as of 2022.
- The private service sector accounts for over 70% of total employment in the state.
- Employment in this sector has grown by over 10% in the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the total number of people employed in the private service-providing industries in the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: The private service sector is a critical driver of economic activity and employment in South Dakota, so this metric provides important insights into the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of private employers conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this employment data to gauge the strength of South Dakota's services-based economy and inform decisions around economic development, workforce planning, and other policy initiatives.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical lag of 1-2 months. There may be seasonal adjustments and potential revisions to historical data.
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All Employees: Private Service Providing in South Dakota
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Citation
U.S. Federal Reserve, All Employees: Private Service Providing in South Dakota (SMS46000000800000001), retrieved from FRED.