SD ranks 12th in nation for personal income - KOTA Territory News

SD ranks 12th in nation for personal income

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By Dawn Dovre, South Dakota Department of Labor and Regulation

South Dakota's growth in personal income from 2000 to 2011 surpassed the growth rate for both the region and the nation. South Dakota's personal income grew by 82.5 percent, compared to a rate of 51.4 percent for the nation, according to the U.S. Bureau of Economic Analysis (BEA).

 

Since 2000, South Dakota's per capita personal income has increased by 67.4 percent. South Dakota's per capita personal income of $44,217 in 2011 ranks 12th of the 50 states.

 

State Labor and Regulation Secretary Pam Roberts said, "In 2009, during the midst of the recession, we were ranked 36th. In just a few short years, South Dakota has improved dramatically."

 

South Dakota has also performed well economically in recent years based on the BEA per capita disposable personal income measure. This measure represents the amount the average person has available for saving or for consumption.

 

"South Dakota's per capita disposable personal income in 2011 was $41,133," Secretary Roberts said. "This ranked the state 10th in the nation, a healthy climb from our 35th ranking in 2000."

 

The 2011 rank of 10th indicates the average South Dakota resident had more money available for household spending than the residents in 40 other states.

 

For more information on South Dakota's comparative performance in economic measures available from BEA, read the current issue of the South Dakota Department of Labor and Regulation's monthly South Dakota e-Labor Bulletin at www.sdjobs.org/lmic

 

 

 

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