Speaking of jobs, Governor Dennis Daugaard has made a big deal of promoting jobs in science, technology, engineering, and math—the STEM jobs toward which we are supposed to retool our education system.... because who needs literature, anyway?
But as with so much else, South Dakota doesn't seem willing to pay for the STEM it wants. Bloomberg has a handy chart on STEM job pay that shows that, just like teachers, South Dakota's STEM workers get the lowest pay in the nation. The average South Dakota STEM wage is $55,432. Minnesota is the best state in the region, 18th overall, with average STEM pay of $74,436. Factor in the BEA regional purchasing parity data we talked about a couple weeks ago, and an engineer falling for the Dakota Roots mall pitch takes over a 17% cut in purchasing power. It doesn't take a slide rule to tell you that's a bum deal.
STEM jobs nationwide offer pay 64% higher than the general average wage. In South Dakota, that premium is 53.9%, the eighth-lowest in the U.S. Washington, D.C., offers the lowest STEM premium, just 24.5%, but D.C.'s STEMmers have little to complain about: they get the highest STEM pay in the nation, an average of $94,536.
We have a top rated school in the School of Mines. We want to blame not spending enough money on not good enough education. But we have a good school and still do not have the jobs or competitive pay scale. This may take some thought on how a very conservative state could do that.
Oh if only I along with everyone around me made a little more money. Then everything would be fine.
Archer, that's the thesis underlying the public statements of every economic development board in the state, from the GOED down to Madison's LAIC.
Roger, our schools recognize the value of an edcuation. Our employers, however, are like capitalists everywhere: they want to get as much work for as little money as possible. Unfortunately, our workers are indoctrinated in Lutheran humility and anti-union "right-to-work" sentiment that tells them it's a sin to strike or demand a bigger share of the wealth they create for their employers.