South Dakota Business & Employment Growth Since 2009

  • 2,930 more businesses
  • 37,608 more employees
  • 9.7% increase in total wages
  • $10,340 increase in annual wages per employee
  • 31.0% increase in wages per employee

Since 2009, the number of businesses in South Dakota has grown by 9.5% (1.9% less than the national average of 11.4%). Employment in South Dakota has grown by 9.7% (4.0% less than the national average of 13.6%). Wages have grown by 31.0% since the end of the Great Recession. This wage growth is 5.4% greater than the national average of 25.7%.
The average weekly wage in South Dakota of $840 is 31.1% below the national average of $1,101. The gap between the national average has widened from 36.7% a widening of 5.6% since the end of the recession.

Sector Growth

Business Sector Growth

The Construction sector has the most businesses in the state of South Dakota. Since the end of the recession, the number of businesses has grown from 3,702 to 3,882, a gain of 4.9%. The table below illustrates the change in number of businesses in each sector.
Sector20182009Pct Chg
Construction3,8823,7024.9%
Retail trade3,8363,922-2.2%
Professional services3,2182,43931.9%
Wholesale trade2,6762,38912.0%
Healthcare2,5002,26310.5%
Accommodation and food services2,4742,3445.5%
Other services2,2012,0955.1%
Finance and insurance2,1622,0396.0%
Waste services1,7741,47420.4%
Transport and warehousing1,3781,23911.2%
Real estate and rental1,09697212.8%
Manufacturing1,0841,113-2.6%
Agriculture and forestry98157470.9%
Arts and entertainment6746671.0%
Information56250710.8%
Educational services33922054.1%
Company management21217620.5%
Utilities170179-5.0%
Mining and oil extraction66643.1%

The sector that has had the strongest growth [in number of businesses] is the Professional services sector, which has increased by 31.9% since 2009. The sector that has has the largest decline is the Retail trade sector, which has declined by 2.2% since the recession.

Employment Sector Growth

The Healthcare sector has the most employees in the state of South Dakota. Since the end of the recession, the number of employees has grown from 54,959 to 64,164, a gain of 16.7%. The table below illustrates the change in number of employees in each sector.
Sector20182009Pct Chg
Healthcare64,16454,95916.7%
Retail trade52,26449,5875.4%
Manufacturing44,44237,70717.9%
Accommodation and food services40,48336,45111.1%
Finance and insurance24,85226,466-6.1%
Construction22,97220,83910.2%
Wholesale trade20,85818,29614.0%
Professional services14,05410,99927.8%
Waste services13,08812,3975.6%
Other services11,14810,3667.5%
Transport and warehousing10,6349,49212.0%
Arts and entertainment6,8336,4545.9%
Agriculture and forestry5,9493,93351.3%
Information5,5896,701-16.6%
Company management5,2653,30259.4%
Real estate and rental3,8793,5798.4%
Educational services3,7043,13718.1%
Utilities1,9782,362-16.3%
Mining and oil extraction8828365.5%

The sector that has had the strongest employment growth [in number of employees] is the Healthcare sector, which has increased by 16.7% since 2009. The sector that has has the largest employment decline in number of employees is the Finance and insurance sector, which has declined by 6.1% since the recession.

Weekly Wage Growth By Sector

The Company management sector has the highest average weekly wage in the state of South Dakota. Since the end of the recession, the average wage has grown from $1,399 to $1,917, a gain of 37.0%. The table below illustrates the change in weekly wage in each sector.
Sector20182009Pct Chg
Company management$1,917$1,39937.0%
Utilities$1,624$1,25529.4%
Finance and insurance$1,228$84545.3%
Mining and oil extraction$1,221$89736.1%
Professional services$1,174$86136.4%
Wholesale trade$1,169$87733.3%
Healthcare$992$76330.0%
Information$949$75725.4%
Manufacturing$948$73728.6%
Construction$942$73328.5%
Transport and warehousing$850$67226.5%
Agriculture and forestry$766$57533.2%
Real estate and rental$705$49542.4%
Waste services$651$47038.5%
Other services$632$47233.9%
Educational services$574$5484.7%
Retail trade$550$42629.1%
Arts and entertainment$350$30614.4%
Accommodation and food services$322$23537.0%

The sector that has had the strongest wage growth is the Company management sector, which has increased by 37.0% since 2009. The sector that has has the smallest wage growth is the Educational services sector, which has declined by 4.7% since the recession.


Industry Growth

Business Industry Growth

The Restaurants and other eating places industry has the greatest number of businesses in the state of South Dakota. This industry currently has 1,403 businesses in it. There is no direct comparison to the total at the end of recession and is not included in the table below.

Industry20182009Pct Chg
Residential building construction918925-0.8%
Insurance agencies and brokerages7997408.0%
Computer systems design and related services62739658.3%
Management consulting services540242123.1%
Gasoline stations with convenience stores532533-0.2%
Plumbing and hvac contractors42938910.3%

The top industry that has had the largest increase in the number of businesses is the Management consulting services industry, which has increased by 123.1% since 2009. The top industry that has has the largest decline in the number of businesses is the Residential building construction industry, which has declined by 0.8% since the recession.

Employment Industry Growth

The Restaurants and other eating places industry has the greatest number of employees in the state of South Dakota. This industry currently has 26,532 employees in it. There is no direct comparison back to the total at the end of the recession and is not included in the table below.

Industry20182009Pct Chg
General medical and surgical hospitals24,16419,45324.2%
Supermarkets and other grocery stores8,0457,6904.6%
Offices of physicians7,7527,4004.8%
Nursing care facilities skilled nursing7,1468,210-13.0%
Commercial banking6,8347,214-5.3%
Hotels and motels except casino hotels6,7056,5392.5%

The top industry that has had the largest increase in the number of employees is the General medical and surgical hospitals industry, which has increased by 24.2% since 2009. The top industry that has has the largest decline in the number of employees is the Nursing care facilities skilled nursing industry, which has declined by 13.0% since the recession.

Weekly Wage Growth By Industry

The Business to business electronic markets industry has the highest average weekly wage in the state of South Dakota. Since the end of the recession, the average wage has grown from $2,046 to $4,037, a gain of 97.3%. The table below illustrates the change in weekly wage in each sector.
Industry20182009Pct Chg
Business to business electronic markets$4,037$2,04697.3%
Investment banking and securities dealing$3,179$1,85671.3%
Meat and meat product merchant wholesalers$2,675$1,209121.3%
Securities brokerage$2,667$1,61665.0%
Investment advice$2,309$1,033123.5%
Offices of physicians$2,200$1,54442.5%

The top industry that has had the strongest wage growth is the Business to business electronic markets industry, which has increased by 97.3% since 2009. The top industry that has has the largest wage decline is the Offices of physicians industry, which has declined by 42.5% since the recession.


Company Size

Business Growth By Company Size

The biggest percentage change in the number of businesses has been in businesses with 250 to 499 employees. The number of businesses with this number of employees has grown from 60 to 87, which is an increase of 45.0%.

The smallest percentage change in the number of businesses has been in businesses with 1,000 or more employees. The number of businesses with this number of employees has grown from 8 to 7, which is an increase of -12.5%.

Table: Change in the number of Businesses by Size of Business, since the Recession:

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees18,58816,62711.8%
5-9 Employees5,3775,2232.9%
10-19 Employees3,6313,4943.9%
20-49 Employees2,3492,00417.2%
50-99 Employees65457613.5%
100-249 Employees3032972.0%
250-499 Employees876045.0%
500-999 Employees252025.0%
More Than 1,000 Employees78-12.5%


Employment Growth by Company Size

The biggest percentage change in the number of employees has been in businesses with 250 to 499 employees. The number of employees in companies this size has grown from 20,756 to 29,146, which is an increase of 40.4%.

The smallest percentage change in the number of employees has been in businesses with 5 to 9 employees. The number of employees with this number of employees has grown from 34,221 to 35,258, which is an increase of 3.0%.

Table: Change in the number of Employees by Size of Business, since the Recession:

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees29,55926,9809.6%
5-9 Employees35,25834,2213.0%
10-19 Employees48,69146,4274.9%
20-49 Employees68,88958,96616.8%
50-99 Employees44,03738,74613.7%
100-249 Employees46,46643,6736.4%
250-499 Employees29,14620,75640.4%
500-999 Employees17,27912,52637.9%
More Than 1,000 Employees22,47421,1286.4%


Weekly Wage Growth by Company Size

The biggest percentage change in the average weekly wage has been in businesses with 500 to 999 employees. The average weekly wage in companies this size has grown from $744 to $1,404, which is an increase of 88.7%.

The smallest percentage change in the average weekly wage has been in businesses with 100 to 249 employees. The average weekly wage in companies this size has grown from $693 to $886, which is an increase of 27.8%.

Table: Change Average Weekly Wage by Size Since the Recession:

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees$889$63440.2%
5-9 Employees$711$54031.7%
10-19 Employees$704$54728.7%
20-49 Employees$745$57928.7%
50-99 Employees$813$59935.7%
100-249 Employees$886$69327.8%
250-499 Employees$902$66336.0%
500-999 Employees$1,404$74488.7%
More Than 1,000 Employees$1,096$81834.0%



Data Sources




About the Writer

This page was created and is maintained by Kurt Tietjen, Founder of Stavera, High Peak Media & HomeGearWorks.com. Kurt is an executive, data scientist and software engineer who holds an MBA in Management Information Systems. In 2010, he partnered with scientists at Northwestern University to launch The Street Wire. This was one of the first mainstream uses of what would become “Narrative Science”, an artificial intelligence platform specializing in natural language generation. You can contact Kurt on LinkedIn here.