Rapid City, South Dakota, weathered the national economic winter with impressive job growth in January 2024. Let’s explore the highlights and key takeaways from the latest data:
Overview:
- Job growth: The city added a remarkable 3.2% new jobs compared to December 2023, significantly surpassing the national average of 1.5%. (Source: Bureau of Labor Statistics)
- Unemployment rate: Despite the influx of jobs, Rapid City boasts a low unemployment rate of 1.6%, marking one of the lowest rates in the nation. (Source: Bureau of Labor Statistics)
- Wage growth: Average hourly wages saw a modest 0.5% increase compared to December 2023. (Source: Bureau of Labor Statistics)
Highlights:
- Tourism reigns supreme: The Leisure and Hospitality sector led the charge with a remarkable 5.7% job increase, fueled by the peak season and continued tourism demand. (Source: Bureau of Labor Statistics)
- Healthcare expands: The Healthcare sector also flourished, adding 3.1% new jobs, driven by an aging population and growing healthcare needs. (Source: Bureau of Labor Statistics)
Industries and Occupations:
- Growth: Servers, Registered Nurses, Sales Representatives, Customer Service Representatives, and Construction Laborers saw the highest job growth. (Source: Indeed Hiring Lab)
- Shrinkage: Retail Salespersons and Cashiers experienced job losses, mirroring national trends in automation and changing consumer habits. (Source: Indeed Hiring Lab)
Comparisons:
- Year-over-year: Compared to January 2023, Rapid City added 4.1% more jobs, showcasing its resilience and tourism-driven economic strength. (Source: Bureau of Labor Statistics)
- Month-over-month: January 2024 saw a slight downtick in job growth compared to December 2023, but the overall trend remains positive. (Source: Bureau of Labor Statistics)
Future Outlook:
Experts predict sustained job growth in Rapid City, with the following occupations expected to be in high demand:
- Registered Nurses
- Sales Representatives
- Customer Service Representatives
- Construction Laborers
- Software Developers
- Marketing Specialists
- Web Developers
- Servers
- Physical Therapy Aides
- Personal Care Aides
Companies Hiring Now:
Several companies in Rapid City are actively recruiting talent across various sectors. Here are a few examples:
- Regional Health
- Black Hills Energy
- Sanford Health
- Rushmore Mall
- Ellsworth Development & Construction
- Cabela’s
- Walmart
- Home Depot
- Lowe’s Home Improvement
- FedEx
Data Sources:
- Bureau of Labor Statistics
- Indeed Hiring Lab