Fall River - Work & Economy
Fall River County has struggled economically in recent years. Median incomes have risen from $29,631 in 2000 to $34,948 in 2011, but this rate of increase has not matched most other counties in the Black Hills. According to the Bureau of Labor Statistics, the county's labor force in June 2013 was 3,905, with 150 people or 3.9 percent listed as unemployed. In 2011, nearly 44 percent of the county's workers are employed by various federal, state or local government agencies, including over 400 who work for the Veterans Administration in Hot Springs and another 100 at Wind Cave National Park. For an in-depth economic profile of Fall River County, visit the South Dakota Governor's Office of Economic Development.
Gross Sales Revenue
Over the last year, from May 2012 to April 2013, fall River County businesses did over 130 million dollars in gross sales revenue. Below is a chart breaking the sales into economic sectors using data from the South Dakota Department of Revenue.
The chart below shows the unemployment rate over the past decade for Fall River county, along with a line showing the average during this time, as recorded by the Bureau of Labor Statistics.
The unemployment rate is defined as the number unemployed as a percent of the labor force. Persons 16 years and older who had no employment during the reference week, were available for work (except for temporary illness) and had made specific efforts to find employment, are classified as unemployed. For more information, see http://bls.gov/lau/.
Another way to explore the types of jobs in a particular area in the Black Hills region is to compare the number of jobs to the number of people employed. The higher the ratio of jobs to employed persons, the more common part-time employment is in this county. The chart below shows the movement in both these numbers, as well as a visual comparison of the difference between “employment” and “all employees.” These data come from the Bureau of Labor Statistics.
“Employment” is an establishment-level indicator of a paid position covered by state and federal unemployment insurance programs (and collected by the Quarterly Census of Employment and Wages). “All Employees” is a household-level indicator of the number of actively employed persons during a period of time, estimated from the Bureau of Labor Statistics from American Community Survey Data. For more information, see http://www.bls.gov/lau/laumthd.htm and http://www.bls.gov/news.release/cewqtr.tn.htm.
Income & Wages
Below is a chart showing the average weekly annual incomes in Fall River county over the past decade, as recorded by the Bureau of Labor Statistics. For more information, please visit the Bureau of Labor Statistics’ Quarterly Census of Employment and Wage program. http://www.bls.gov/cew/
Wages include bonuses, stock options, profit distributions, the cash value of meals and lodging, tips and other gratuities, and, in some states, employer contributions to certain deferred compensation plans such as 401(k) plans.
New capital investment and sources of labor contribute to the growth of the Black Hills economy. Below is a chart showing the labor force in Fall River County over the past decade. The shade of the bars indicates the level of business establishments during that year. The darker the bar, the more businesses in the economy. This data has been recorded by the Bureau of Labor Statistics as a part of the Local Area Unemployment Survey.
The term “establishment” refers to the physical location of a certain economic activity—for example, a factory, mine, store, or office. A single establishment generally produces a single good or provides a single service. An enterprise (a private firm, government, or nonprofit organization) can consist of a single establishment or multiple establishments. All establishments in an enterprise may be classified in one industry (e.g., a chain), or they may be classified in different industries (e.g., a conglomerate).
Agriculture & Resources