Monthly Archives: March 2022

Idaho’s January Unemployment Rate Drops to 3%

NEWS RELEASE

For Immediate Release: March 14, 2022
Media Contact: Karen.JarboeSingletary@labor.idaho.gov or Craig.Shaul@labor.idaho.gov

Idaho’s seasonally adjusted unemployment rate was 3% in January – down slightly from a revised December rate of 3.1%. Due to the Bureau of Labor Statistics’ annual benchmarking process, December 2021’s unemployment rate was revised from a record low 2.4%. This realignment of labor market variables is not an indicator of any negative directional changes in the state’s economy.

The number of Idahoans employed or looking for work grew by 2,743 people (0.3%) to 924,469 – a larger over-the-month increase than during any month of 2021.

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Explainer on the Unemployment Insurance Trust Fund and Taxes

Episode 3 – Trust Fund and Taxes:

For the third installment on Idaho’s unemployment insurance (UI) program, we explain the UI Trust Fund and its influence on the taxes employers pay.

The Trust Fund:

The UI Trust Fund is the center of the UI program.

The most basic function of the UI Trust Fund is as the pool where UI taxes Idaho employers pay are deposited and from which benefits paid to claimants are withdrawn. The diagram of figure 1 compares it with a holding tank shaped like Idaho. As the amount of funds in the tank goes up or down, it determines the tax rates on employers.

Trust Fund Graphics

All 50 states, Washington, D.C. Puerto Rico and Virgin Islands have a UI Trust Fund. The Federal Unemployment Tax Act (FUTA) requires the UI trust funds be kept with the Unemployment Trust Fund at the U.S. Treasury, and the funds can only be used to pay unemployment benefits.

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Around Idaho: Economic Activity in February 2022

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
Eastern Idaho

 

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

Kootenai County

  • The Regional Housing and Growth Issues Partnership completed a multi-month study on housing shortages in northern Idaho and is preparing to present its recommendations for local housing policy. The study, recently published on the organization’s website, concluded that a lack of affordable housing cost over $220 million in gross regional product by reducing the available workforce. Source: Coeur d’Alene Press

 Openings – Coeur d’Alene

  • Sportsman and Ski Haus
  • Garnet Café
  • Good N Baked
  • Lyfe Coffee
  • Schmidty’s Burgers
  • Aunt Stephanie’s Child Care
  • Soda Love

Openings – Hayden

  • Dairy Queen
  • Lone Mountain Farms & Brewery Taphouse


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

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Idaho’s High Demand for Truckers is Expected to Continue

The nationwide worker shortage in the trucking industry was an issue even before the pandemic. According to U.S. Xpress, one of the nation’s largest truckload carriers, the industry needs at least 80,000 new truckers in the U.S. (*Forbes Jan. 21, 2022 )

In Idaho, truck drivers have long been an in-demand occupation. High demand can at least partially be attributed to the state’s location, making trucking a better option than other forms of transportation.photo: semi trailer truck

Even with the Lewiston seaport, Idaho is basically landlocked and not served by an international airport. Though rail transportation is used for bulk agricultural commodities, seasonal commodity shipments do not allow for consistent rail line contracts.

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Magic Valley Hiring Expo Set for March 8

NEWS RELEASE

For Immediate Release: March 2, 2022
Media Contact: Oscar Escobedo, Oscar.Escobedo@labor.idaho.gov

More than 40 employers are participating in the Magic Valley Hiring Expo March 8 from 5 to 7 p.m. The event takes place at Canyon Ridge High School, 300 N. College Road W., in Twin Falls.

Employers are ready to hire workers in production, general labor, maintenance, food service, retail, health care, administrative and sales. Continue reading →

AmeriCorps Volunteers Help Idaho Organizations Build Capacity

NEWS RELEASE

For Immediate Release: March 1, 2022
Media Contact: Renee Bade, renee.bade@labor.idaho.gov

Applications Open for AmeriCorps VISTA Project

Idaho nonprofit, educational, community and faith-based organizations, Indian tribes and local governments are eligible to host an AmeriCorps Volunteers in Service to America (VISTA) member who can assist in building organizational capacity. Capacity building activities may include fundraising, grant writing, research and volunteer recruitment.

Interested organizations must submit an application to Serve Idaho, The Governor’s Commission on Service and Volunteerism by March 18 at 4 p.m. MST. A training and technical assistance call will be held for interested applicants on March 8 at 10 a.m. MST.

Preference will be given to organizations who serve impoverished, rural or otherwise at-risk youth, and community members and programs that focus on economic opportunity, which includes financial literacy, employment and housing.  Continue reading →