- Home to LMIC
- Virtual Labor Market Data System
- Career Exploration & Planning
- Consumer Price Index
- Demographics
- Economic Snapshot
- Employee Benefits
- Employment Projections
- Labor Force & Unemployment
- Labor Supply
- Overview of the Current Labor Market
- Surveys We Conduct
- Wages & Income
- Workers by Industry
- Tools & Resources
- Publications
- References
- What's New
- Can't Find It?
Labor Market Information Center
2023 Annual Report
Quarterly Census of Employment and Wages
Professional and Business Services Supersector
The Professional and Business Services supersector is comprised of the Professional, Scientific, and Technical Services sector; the Management of Companies sector; and the Administrative and Support and Waste Management and Remediation Services sector. Businesses within this supersector perform professional services, hold securities of companies or perform routine support activities for the day-to-day operations of other businesses.
| South Dakota Covered Workers and Pay 2023 |
|||
| Supersector, Sector and Subsector | Number of Establishments | Average Number of Workers | Annual Pay |
| Professional and Business Services | 9,163 | 37,238 | $75,555 |
| Professional, Scientific, and Technical Services | 6,136 | 17,912 | $83,201 |
| Professional, Scientific, and Technical Services | 6,136 | 17,912 | $83,201 |
| Management of Companies and Enterprises | 244 | 5,354 | $118,632 |
| Management of Companies and Enterprises | 244 | 5,354 | $118,632 |
| Administrative & Support & Waste Management & Remediation Services | 2,783 | 13,972 | $49,246 |
| Administrative and Support Services | 2,625 | 12,959 | $48,899 |
| Waste Management and Remediation Services | 158 | 1,013 | $53,693 |
| Totals may not add due to rounding. Data subject to revision. Produced by the Labor Market Information Center, South Dakota Department of Labor and Regulation, in cooperation with the U.S. Bureau of Labor Statistics. |
|||
Professional, Scientific, and Technical Services
NAICS Sector 54
The Professional, Scientific, and Technical Services sector’s annual average employment in 2023 was 17,912, an increase of 4.0%. The average annual wage increased 3.1% to $83,201.
The Professional, Scientific, and Technical Services sector is one of few sectors that contains only one subsector. But, within the Professional, Scientific, and Technical Services (NAICS 541) subsector are many industry groups. The distinguishing feature of the subsector is the fact most of the industries grouped in it have production procedures that are almost solely dependent on worker skills. In most of these industries, equipment and materials are not of major importance, unlike health care, for example, where "high tech" machines and materials are important collaborating inputs to complement labor skills in the production of health care. Conversely, the establishments classified in this subsector sell expertise. Much of the expertise requires degrees or specialized training, though not in every case.
Seven out of nine industry groups within the subsector experienced worker increases from 2022 to 2023:
- Legal Services (NAICS 5411)
- Accounting, Tax Preparation, Bookkeeping, and Payroll Services (NAICS 5412)
- Architectural, Engineering, and Related Services (NAICS 5413)
- Specialized Design Services (NAICS 5414)
- Management, Scientific, and Technical Consulting Services (NAICS 5416)
- Advertising, Public Relations, and Related Services (NAICS 5418)
- Other Professional, Scientific, and Technical Services (NAICS 5419)
Each industry group above had significant employment growth in 2022, but the three main drivers of growth were the Accounting, Tax Preparation, Bookkeeping, and Payroll Services; Architectural, Engineering, and Related Services; and Management, Scientific, and Technical Consulting Services industry groups. South Dakota has continued to see a sharp increase in the number of establishments in these specific industries since the COVID-19 pandemic. With the switch to teleworking and technology driven workplaces, there has been an increase in demand for duties such as bookkeeping, accounting, engineering, architectural design, and management and marketing consulting. Most companies providing these services are small-scale, employing only one or a few workers. Business management and consulting continues to increase, largely due to the changes in business operations. Business problems can be complex, and consultants are professional experts who provide solutions and strategies to improve the financial and operational health of an organization. Recommendations by these professionals are backed by large amounts of research and data.
Worker levels in the Computer Systems Design and Related Services (NAICS 5415) industry group remained unchanged in 2023 after a large increase in 2022. The Scientific Research and Development Services (NAICS 5417) industry group’s employment declined slightly.
Management of Companies and Enterprises
NAICS Sector 55
The Management of Companies and Enterprises sector is comprised of establishments that either hold the securities of companies and enterprises for the purpose of owning a controlling interest or administer, oversee and manage establishments of the company. Primary duties of employees in this industry include influencing management decisions and undertaking the strategic or organizational planning and decision-making within the company. Essential activities of these establishments are often performed in house. By consolidating the performance of these activities for a business within one establishment, economies of scale are achieved.
The number of workers in 2023 was 5,354, a decrease of 2.0% from 2022. Average annual pay also declined from $125,763 to $118,632 (5.7%). Annual pay for this sector tends to be markedly more than other sectors due to its highly skilled occupations. Despite the decline, the sector’s annual average wage still ranked as the highest out of all sectors in South Dakota, because most workers are in high-level management positions.
Professionals in the management of companies and enterprises industry are typically responsible for major decision making and are privy to a lot of confidential information and data. In some cases, actions taken by key members on staff can directly impact the financial well-being of both companies being managed and their shareholders. As a result, there can be a significant risk of liability lawsuits in this industry. Therefore, risk management is a priority, and individuals are compensated accordingly for the degree of responsibility and stress involved.
The bulk of this industry is comprised of managing offices. These offices are part of a company and administer, oversee, and manage establishments of that company. They normally undertake the strategic planning and decision-making role of the company. Typically, corporate offices, centralized administrative offices, and district or regional offices fall within this industry.
Administrative and Support and Waste Management and Remediation Services
NAICS Sector 56
The Administrative and Support and Waste Management and Remediation Services sector’s annual employment in 2023 was 13,972, a decrease of 1.1%. The average annual pay for this sector decreased $856 (1.7%) to $49,246. This sector has recovered from worker loss in 2020 due to the Covid-19 pandemic but was unable to sustain its 2022 employment peak of 14,127 in 2023.
Just over 92% of employment in this industry belongs to the Administration and Support Services (NAICS 561) subsector. The average annual employment for this subsector was 12,959 with an average annual wage of $48,899. Four out of eight industry groups in this subsector showed positive employment growth, while employment in the other half fell slightly.
Industry groups with worker gain:
- Facilities Support Services (NAICS 5612)
- Travel Arrangement and Reservations Services (NAICS 5615)
- Services to Buildings and Dwellings (NAICS 5617)
- Other Support Services (NAICS 5619)
Industry groups with worker loss:
- Office Administrative Services (NAICS 5611)
- Employment Services (NAICS 5613)
- Business Support Services (NAICS 5614)
- Investigation and Security Services (NAICS 5616)
The Employment Services and Business Support Services industry groups were responsible for most of the worker loss in 2023. Establishments within these industries engage in listing employment vacancies or supplying works to client’s business for limited periods of time and perform activities to support routine business functions (e.g., document preparation, call centers, and collection agencies). Employment can either increase or decrease throughout the year due to the cyclical nature of business needs at the time.
The Waste Management and Remediation Services (NAICS 562) subsector employed 1,013 workers. Employment growth was once again higher in 2023 (5.3%) compared to previous years. Average annual pay was $53,693. Establishments in this subsector collect, treat, and dispose of waste materials. This can include local hauling of waste materials; sorting recyclable materials from the trash stream; providing for the cleanup of contaminated buildings, mine sites, soil, or ground water; and providing septic pumping and other miscellaneous waste management services. Employment gains occurred in the Waste Collection and Waste Treatment and Disposal industry groups.
