Economic Indicators: July 2020

July 18, 2020

Posted In: Business News

When the COVID-19 crisis began, we knew our community was going to be affected. Businesses made tough decisions. Many created “to go” options to safely serve customers. Business as usual was not in the cards. But if there’s one thing we see time and time again, it’s that Rapid City faces the challenge together. It’s why we quickly released the Emergency Bridge Loan program to help businesses keep their doors open. And why we created Rapid City to Go so businesses could promote their new curbside and carry-out services.

Now it's time to see where our economy stands. As Elevate Rapid City releases our inaugural monthly economic indicators, you’ll notice that while we are still not out of the woods, things are looking up:

  • Unemployment rate has gone down from its high in April
  • Average weekly wages have gone up
  • Hotel occupancy has increased
  • Airport boardings have increased

Our mission is to elevate the Rapid City region for all. Part of that means elevating the indicators we use to measure the economy and ourselves. 

Tom Johnson, Elevate Rapid City CEO