Around Idaho: Economic Activity in September 2020

Information provided in these news updates is from professional sources, news releases, weekly and daily newspapers, television and other media.

Northern Idaho
North Central Idaho
Southwestern Idaho
South Central Idaho
Southeastern Idaho
Eastern Idaho

 

NORTHERN IDAHO – Benewah, Bonner, Boundary, Kootenai & Shoshone Counties

  • Kootenai County
    • Fatbeam LLC – a Coeur d’Alene-based fiber provider – is introducing a new product called Cloudbeam, which will allow its customers to connect securely to cloud services. Cloudbeam will function as Fatbeam’s proprietary alternative to VPN (virtual private network) services. Source: Journal of Business
    • Engel & Volkers, a German-based international luxury real estate brokerage, has opened an office in Coeur d’Alene with plans for a Sandpoint office in 2021. Source: Journal of Business
    • Quest Integration Inc., a Post Falls technology firm providing support for the manufacture and design of 3D printers, has been acquired by Hawk Ridge Systems, a California-based manufacturer of 3D printing systems. Quest will continue to operate under that name during the integration process but will eventually operate under the Hawk Ridge name. Source: Journal of Business

     

Openings – Coeur d’Alene

  • Mangia Wood Fired Pizza
  • Hasani Coffee
  • Bou Cou, dancewear and fitness wear
  • Rokko’s Teriyaki & BBQ
  • Izzy’s Comfort Kitchen
  • Everlong Studio, a photography studio
  • Bjorkman Film & Video
  • Spirit Halloween
  • Roger’s Ice Cream & Burgers

Openings – Post Falls

  • Unlimited Health Chiropractic
  • Teton House

Openings – Hayden

  • Edward Jones Investments

Sam.Wolkenhauer@labor.idaho.gov, regional economist
Idaho Department of Labor
(208) 457-8789 ext. 4451

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Idaho’s September Labor Force Reaches Record High

NEWS RELEASE

For Immediate Release: Oct. 16, 2020
Media Contact: Craig Shaul, Craig.Shaul@labor.idaho.gov or Karen Jarboe Singletary, karen.jarboesingletary@labor.idaho.gov

Record growth in the state’s seasonally adjusted labor force increased September’s unemployment rate to 6.1 percent, up from 4.2 percent in August. The labor force is up by 22,129 (+2.5 percent) to 918,644. As a result, the number of unemployed increased by 18,806, even as total employment continued to grow by 3,323 (+0.4 percent).

The record gains also pushed the state’s labor force participation rate – the percentage of people 16 years and older with jobs or looking for work – up from 63.7 percent in August to 65.1 percent in September. The last time Idaho’s participation rate was at or above 65.1 percent was in August 2010 – just over 10 years ago.

Total nonfarm jobs dropped by 1,000 (-0.1 percent) to 758,600 for September. A substantial gain of 1,800 jobs in leisure and hospitality (+2.3 percent), combined with modest increases in financial activities, natural resources, and trade, transportation and utilities, were not enough to compensate for job declines in other industries, including a loss of 2,200 jobs in government (-1.7 percent).

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NIC Joins Other Community Colleges Enrolling Idaho Job Corps Students

NEWS RELEASE

For Immediate Release: Oct. 15, 2020
Media Contact: Tina Polishchuk, (208) 442-4500

North Idaho College is the state’s latest community college to open its doors to Idaho Job Corps students.

The state-run Job Corps program –  designed to help low-income youth obtain higher education and on-the-job training – is also available at the College of Western Idaho in Nampa, the College of Southern Idaho in Twin Falls and College of Eastern Idaho in Idaho Falls.

Each college is set up to serve 50 additional low-income youth. Idaho Job Corps applicants are enrolled as college students and work toward careers in high-growth jobs like nurses, pharmacy techs, welders, information technology specialists, carpenters, HVAC technicians, electricians, engineers and more. For some programs and students, dual enrollment is an option. Continue reading

Idaho’s Unemployment Continued Claims Decrease for 23rd Consecutive Week

NEWS RELEASE

For Immediate Release: Oct. 15, 2020
Media Contact: Craig Shaul, Craig.Shaul@labor.idaho.gov or Salvador Vazquez, Salvador.Vazquez@labor.idaho.gov

The number of Idahoans who filed a continued claim for unemployment insurance benefits fell for the 23rd consecutive week, dropping 8 percent for the week ending Oct. 10 to 8,386. The four-week moving average for continued claims also fell by 8 percent – down from 10,314 for the week ending Oct. 3 to 9,533.

Initial claims for unemployment benefits totaled 3,519 for the week ending Oct. 10, increasing by 564 claims as the four-week moving average fell by just 1 percent to 3,227.

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Idaho’s Economy Recovering from COVID-19

Idaho was in its third longest period of economic expansion when COVID-19 reached the state and Gov. Brad Little proclaimed an emergency.

The economic shutdown that followed impacted the nation and Idaho full force in late March and in April as the state’s record low, 2.5 percent unemployment rate soared to a historic high of 11.8 percent.

After April’s COVID-19 economic shockwave, the economy gradually reopened from May through June as the Rebound Idaho Plan progressed through its four stages. Dramatic improvements to the state’s jobs and labor force statistics followed suit and by July had clearly emerged with one of the least affected economies by the pandemic in the nation.

Read the report on Idaho’s Rebound from Labor economists and analysts for more details on Idaho’s recovery since the record high unemployment in April.

Idaho’s Unemployment Continued Claims Decrease for 22 Consecutive Weeks

NEWS RELEASE

For Immediate Release: Oct. 8, 2020
Media Contact: Craig Shaul, Craig.Shaul@labor.idaho.gov or Salvador Vazquez, Salvador.Vazquez@labor.idaho.gov

Unemployment continued claims – the number of people who requested an unemployment benefit payment – continued to fall the week ending Oct. 3, dropping 8 percent from the previous week to 9,144, the 22nd consecutive week of declines.

The four-week moving average for continued claims fell 9 percent – from 11,284 for the week ending Sept. 26 to 10,314 for the week ending Oct. 3.

Initial claims for unemployment benefits totaled 2,955 for the week ending Oct. 3, dropping slightly by 40 claims, pushing the four-week moving average down by 6 percent to 3,265.

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Continued Claims for Idaho Unemployment Benefits Drop for 21st Consecutive Week

NEWS RELEASE

For Immediate Release: Oct. 1, 2020
Media Contact: Craig Shaul, Craig.Shaul@labor.idaho.gov or Salvador Vazquez, Salvador.Vazquez@labor.idaho.gov

The number of Idahoans submitting a continued claim for unemployment benefits continued to fall the week ending Sept. 26, dropping 8 percent from the previous week to 9,895.

The four-week moving average for continued claims also fell by 9 percent – from 12,416 for the week ending Sept. 19 to 11,284 for the week ending Sept. 26.

Initial claims for unemployment insurance benefits were also down, dropping 13 percent – or 442 claims – from the previous week to 2,995. The four-week moving average declined by 5 percent to 3,477 initial claims per week.

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Bade of Serve Idaho Receives National Leadership Award from America’s Service Commissions

NEWS RELEASE

For Immediate Release: Sept. 25, 2020
Media Contact: Kirstin Mann, Kirstin.Mann@labor.idaho.gov

Renee Bade, program supervisor of Serve Idaho, the Governor’s Commission on Service and Volunteerism, was named 2020 Outstanding Commission Executive Director of the year Thursday at a virtual awards ceremony held by America’s Service Commissions (ASC) at the association’s annual Innovation and Leadership Awards.

photo of Renee Bade

Renee Bade

The awards program is held each year to recognize the leadership and accomplishments of state service commissions and their commissioners, staff, service programs and legislative champions from across the United States and its territories. The event was celebrated virtually this year due to the COVID-19 pandemic.

Bade was nominated by one of her staff, who writes, “When I think of a true public servant, I think of Renee Bade.” Community service has been a large part of Renee’s life from an early age. She began volunteering in Head Start classrooms at age 8 and is now community service chair for the Boise Centennial Rotary Club and former chair of the Boise Young Professionals.

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Idaho’s Unemployment Continued Claims Decrease for 20th Consecutive Week

NEWS RELEASE

For Immediate Release: Sept. 24, 2020
Media Contact: Craig Shaul, Craig.Shaul@labor.idaho.gov or Salvador Vazquez, Salvador.Vazquez@labor.idaho.gov

Unemployment continued claims – the number of people who requested an unemployment benefit payment – continued to fall the week ending Sept. 19, dropping 7 percent from the previous week to 10,708, the 20th consecutive week of declines.

The four-week moving average for continued claims fell 10 percent – from 13,842 for the week ending Sept. 12 to 12,416 for the week ending Sept. 19.

Initial claims for unemployment insurance benefits totaled 3,437 for the week ending Sept. 19, dropping by 6 percent – or 235 claims – from the previous week. The four-week moving average declined by 2.4 percent to 3,650 new initial claims per week.

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Idaho Unemployment Rate Falls to 4.2 Percent in August

NEWS RELEASE

For Immediate Release: Sept. 18, 2020
Media Contact: Craig Shaul, Craig.Shaul@labor.idaho.gov or Karen Jarboe Singletary, karen.jarboesingletary@labor.idaho.gov

– State recovers 7,000 nonfarm Jobs –

Idaho regained 7,000 nonfarm jobs in August and the state’s seasonally adjusted unemployment rate fell from a revised rate of 5.1 percent in July to 4.2 percent – the third lowest rate in the nation.

Last month’s job gains left the state with an over-the-year decrease of 0.7 percent, making Idaho the least affected state in the nation for August job losses due to the economic disruption caused by COVID-19. Utah was second with a 1.8 percent decrease.

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