According to an Elevate Rapid City study, unemployment is at an all-time low
RAPID CITY, S.D. (KEVN) - Elevate Rapid City released its end-of-the-year report this week on economic growth in the community.
The data shows that unemployment in the city is the lowest it’s been in more than 20 years at 2.3%. Elevate is also seeing growth in the community, as the rise in demand for housing increased substantially.
CEO Tom Johnson said that while these numbers are encouraging, there are still some things residents should be aware of as we head into 2022.
”There’s some inflation that’s kind of on the horizon, the price of housing is still too high and there’s not enough housing,” Johnson said. “So, we’ve got to work on some of those things. Also, with the unemployment rate being so low, folks are sometimes struggling to find workers. So, we’re trying to do some things to try and help that.”
Johnson said that Elevate is expecting to build on its goals in the new year.
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