South Dakota’s unemployment rate in February was 2.9%, the same as it was in February 2020, before coronavirus broke out. That’s a swift recovery from the 9.5% unemployment rate we hit in April 2020 and a welcome continuation of the sub-4% rate we’ve enjoyed since September.
But it seems there’s still a lot of extra churn in the labor market compared to pre-pandemic times. Our weekly and continued unemployment claims are still unusually high.
A year ago, for the period ending on February 29, we’d seen an average of 182 initial filings for unemployment per week over the preceding four weeks and an average of 283 initial claims per week over the preceding twelve weeks. Continued weekly claims averaged 3,134 over the preceding four weeks and 2,952 over the preceding twelve weeks.
This year, for the period ending February 27, we saw an average of 461 initial unemployment filings each week in February and an average of 620 initial claims each week since December. The four-week average for initial claims is up 153% from last year; the twelve-week average is up 119%.
In the same period, we saw a four-week average of weekly continued claims of 5,699, up 81% from a year ago. We saw a twelve-week average of weekly continued claims of 5,265, up 78% from a year ago.
Our unemployment rate says we’re back to a wage-earners job market. But we’re still seeing more wage earners losing their jobs each week and having to file for unemployment.
May be attributable tp people like me who are accepting part-time and/or temporary jobs, while not working enough hours or earning enough to be disqualified from the Federally extended benefits.
Richard, do those temp jobs put you in the Employed category, even though you still qualify for UI?
Mr. H, Mr. Schriever doesn’t know in what column they mark and count him, he only knows how much mula they hand him when he’s in the line. Only the government knows how they count the people getting free money. And the unemployment rate seems crazy low, with many jobs open all over. Even Angela was touting them on the internet last night…Sana the cook in Sioux Falls cannot hire people to run her cash register.
Even grudznick could do that job, despite my visage, and if she opens a joint in Rapid that serves a good breakfast I’d be a superb front man for the operation.
Mr. H, are you paying attention to Mr. Nesiba’s veto calls? There are vetos, and you need to be blogging it so grudznick is not beating you to the punching. Nesiba and grudznick are about to start a facebook press conference…go to the link
There is a lot of pressure on Mr. Novstrup, the elder, and even on Mr. Novstrup the younger to try and strong arm the elder. Aberdeen is not quite up in arms, but golly they are eating chicken wings tonight with spicy sauces.
South Dakota low ue rate is bogus. Like the article says, a lot of people are losing jobs now.
Noem specializes in Hoover-ing the economy. Deny unemployed people the extra Pandemic money. She felt Trump was too liberal on that. (Trump signed that bill on the extra $400).
Game Stop closures in Brookings, Mitchell, Yankton and Watertown, some of those due to strip mall owners doubling or tripling the rent. Corporate would just throw in the towel and close instead of relocate.
What happens when governments dish out more cash to land owners and business owners than employees. The body politic remains wobbly, especially participation in voting.
A strong center-left Party is needed. All due respect to Richard Kneip, Democratic Party just isn’t cutting the mustard.
A strong center left Party will address proper taxation (small state income tax and small corporate tax, if you don’t like it, move to Wyoming), stop welfare pipeline to businesses, make voting easy, motor voter, and put Native Americans and minorities in the cabinet.
What can we do to inspire everyone? Is the question.
The old corrupt Republicans vs weak caving Democrats isn’t what inspires people.
We need a bigger story to tell everyone.