It’s a new year, which means that it’s time to benchmark Idaho’s 2015 nonfarm jobs and unemployment estimates.
The annual benchmarking process takes place during January and February. Due to benchmarking, the monthly Idaho preliminary nonfarm and unemployment situation release, which normally occurs on the third Thursday of each month, is released on a different schedule for the first two months of the year.
In the annual benchmarking process the Idaho Department of Labor uses updated information that has become available over the past year to re-evaluate and adjust Idaho nonfarm jobs estimates and monthly unemployment rates of the previous year. This process is important to improve the accuracy of previous estimates and lay a new foundation for the upcoming year’s estimates.
The nonfarm jobs and unemployment report for January 2016 will be released on March 14, and February’s report will be available March 25. An additional report summarizing the new benchmarked labor force, employment and unemployment estimates for 2010 through 2015 will be available on Feb. 26. The full release schedule for 2016 is below, and can is also posted on the Idaho Labor Market Information website at https://labor.idaho.gov/LMICalendar/View_Calendar.aspx