The economic slowdown following the initial COVID-19 pandemic effects drove many industries to lose jobs temporarily – and some permanently – across Idaho and the United States. Idaho had been in the midst of a growth streak pre-pandemic, with a 2.5 percent unemployment rate in March. But shortly after, Idaho’s employment dropped nearly 10 percent from March to April – from roughly 873,000 jobs to 789,000. The impact, however, was not equally damaging across all industries. Some industries such as financial activities and construction have had over-the-year growth at a much higher rate than the nation. Nationally, employment within the financial activities industry declined.
To determine possible reasons for this disparity, the Idaho Department of Labor conducted a shift-share analysis over a 10-year period to isolate the effects of changing employment among financial sectors.
Find the research report on the Department of Labor website.
– Idaho Department of Labor