Employment
The jobless rate in the Rapid City metropolitan area rose to 4.7 percent in January. The total number of unemployed (3,100) rose sharply from October and November while the size of the civilian labor force continued to drop from 67, 200 in October to 65,900 in January. Job losses were evident in nearly all sectors since October with the biggest drops appearing in mining, logging and construction; trade, transportation and utilities and leisure and hospitality -- all industries affected by seasonal ups and downs. Over the last twelve months the leading growth sector for employment is manufacturing, which is up 8.3 percent. Employment in Professional and Business Services has increased by 4.3 percent. For more details and an overview of the economy in the Rapid City Metropolitan Statistical Area (Pennington and Meade counties), visit the U.S. Bureau of Labor Statistics. (Updated March 29, 2012.)
Trade, transportation and utilities account for the largest share of jobs in Pennington County with nearly 22 percent of total employment. Education and health services is second with 17 percent. Most employed resident work in the county, with less than 5 percent commuting out. The median drive to work lasts 17 minutes. For an in-depth economic profile of Pennington County, visit the South Dakota Governor's Office of Economic Development. The Rapid City Chamber of Commerce has aggregated data links related to the Rapid City economy. Rapid City Economic Development also provides market data on the local economy. Identify the area's largest employers, their sales volume range, number of years in business and more in the spreadsheet linked here. For more on the Rapid City community's economic development effort, see our Economic Development resource page.
Income & Wages
Pennington County's median income exceeds most other counties in the Black Hills region and has risen from $37,485 in 2000 to $46,972 in 2009. According to the Bureau of Labor Statistics, the county's total labor force in June 2011 was 56,160, with 2,503 people or 4.5 percent listed as unemployed. When salaries are compared to similar cities out of state, the Black Hills area ranks below Casper, Billings, Flagstaff and Bismarck.
Gross Domestic Product
Despite a sluggish economy across the nation, the total value of goods and services produced in the Rapid City metropolitan region (including Pennington and Meade counties) grew by an estimated 2.6 percent in 2010. This growth followed a 0.6 percentage decline in 2009 (based on revised figures from the Bureau of Economic Analysis). With this growth, the Rapid City metropolitan area ranked 133rd among the fastest-growing urban economies in the nation. Regionally, Rapid City surpassed Sioux Falls (up 2.3 percent), Billings (up 0.4 percent) and Casper (down 3.8 percent). Only Bismarck (which was up 5.1 percent), showed stronger growth.
Business Activity
The Rapid City economy generated nearly $217.9 million in business activity subject to state sales tax in July and August 2011. This represented a 6.9 percent increase over the same period in 2010. Retail sales rose 9.6 percent. Manufacturing staged a dramatic recovery, increasing 47.8 percent. Meanwhile, construction suffered the biggest decline with revenues down nearly 10.8 percent. For more details, see the full report from the South Dakota Department of Revenue.
Environment & Conservation
Transportation
The Rapid City Regional Airport serves as the primary airport for a broad area that includes most of western South Dakota, as well as parts of Nebraska, Wyoming, Montana and North Dakota. According to the Federal Aviation Administration, the Rapid City airport ranked 156th among the nation's airports with 284,126 passenger "emplanements" in 2010. This volume represented a 6.63 percent increase over 2009, and was almost exactly in line with the growth predicted in the airport's 2008 Master Plan. By contrast, passenger volume rose 12.67 percent in Casper, WY; 6.48 percent in Bismarck, ND; 6.98 percent in Sioux Falls, SD; 6.04 percent in Bozeman, MT; and 3.75 percent in Fargo, ND. In Billings, Montana, passenger volume fell by 2.31 percent. The May, 2008 Masterplan provides a wealth of information on the future growth of the airport. (The executive summary is available here. The full report is available here.)