Rapid City, SD – December 2023 Jobs Report – Steady Growth Meets Holiday Rebound

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December 2023 concluded with positive job gains for Rapid City, SD, as the unemployment rate remained low and key industries showed resilience. While year-over-year comparisons paint a picture of modest growth, a closer look reveals a dynamic job market bouncing back from a slight dip in November.

Highlights:

  • Unemployment Rate: Stable at 1.8%, remaining one of the lowest in the nation (source: BLS).
  • Nonfarm Wage and Salary Employment: Increased by 2.2% compared to December 2022, adding 1,600 jobs (source: BLS).
  • Professional and Business Services: Leading the charge with a 4.7% growth rate, adding 400 jobs (source: SD Dept. of Labor).
  • Leisure and Hospitality: Rebounded from November’s decline, adding 200 jobs (source: SD Dept. of Labor).

Industries and Occupations that Grew:

  • Professional and Business Services: Management, legal, architectural, and engineering occupations saw healthy increases.
  • Healthcare: Registered nurses, physician assistants, and home health aides were among the growing professions.
  • Construction: Electricians, carpenters, and construction laborers experienced job gains.
  • Leisure and Hospitality: Cooks, waiters and waitresses, and food preparation workers benefited from the holiday season.

Industries and Occupations that Shrank:

  • Government: Education and local government sectors saw slight job losses.
  • Manufacturing: Durable goods manufacturing experienced a small decline.
  • Retail Trade: Holiday hiring subsided, leading to a minor decrease in employment.

Comparison to Same Month Last Year:

  • Overall nonfarm wage and salary employment grew by 0.9% compared to December 2022, a slower pace than the national average.
  • Professional and Business Services, however, outpaced the national average with a 4.7% growth rate.

Comparison to Previous Month:

  • Following a slight dip in November, December saw a rebound in employment across most sectors.
  • The unemployment rate remained unchanged at 1.8%, demonstrating the job market’s stability.

Future Outlook:

The Rapid City job market is expected to remain stable in the coming months, with continued growth projected in Professional and Business Services, Healthcare, and Construction. Tourism is also poised for further expansion, supporting Leisure and Hospitality jobs. However, potential economic headwinds could impact manufacturing and government sectors.

10 Growing Occupations in Rapid City (source: BLS):

  1. Software Developers
  2. Registered Nurses
  3. Physician Assistants
  4. Nurse Practitioners
  5. Construction Laborers
  6. Electricians
  7. Truck Drivers
  8. Management Analysts
  9. Marketing Managers
  10. Human Resources Managers

10 Companies Hiring Now in Rapid City (source: Indeed):

  1. Black Hills Surgical Hospital
  2. Rapid City Area Schools
  3. Rushmore Hotel & Civic Center
  4. Sanford Health
  5. Citibank
  6. Rapid City Regional Airport
  7. Black Hills Energy
  8. FedEx Ground
  9. Lowe’s
  10. Walmart

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