Monthly Archives: May 2022

Around Idaho: Economic Activity in May 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 nonprofit urban planning and community development organization, CDA 2030, published a new “Vision and Implementation Plan” for the greater Coeur d’Alene community. The plan outlines 134 actions and recommendations related to housing, park space, conservation and other quality-of-life items for the area. Source: Coeur d’Alene Press
  • North Idaho College received a $524,000 grant from the Idaho Workforce Development Training Fund to support its Workforce Training Center. The grant will fund apprenticeship programs for tradespeople and heavy equipment operators in the construction industry. The goal is to help meet the region’s enormous need for construction labor. Source: Coeur d’Alene Press

Openings – Coeur d’Alene

  • Capriotti’s Sandwich Shop
  • CDA Pet Market
  • Stylus Wine & Vinyl Bar
  • Integrity Mental Health
  • CaterCDA
  • Lake City Deluxe Barbershop
  • Brandon Cope Massage
  • Patriot Hangout
  • Sarah Hamilton FACE

Post Falls

  • Auto Paint Plus
  • North Idaho Urology
  • St Joseph’s Ear, Nose, Throat & Allergy Clinic

Hayden

  • Open Arms

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

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Labor expands employment services in southeastern Idaho

NEWS RELEASE

For Immediate Release: May 26, 2022
Media Contact: Jill.Kleist@labor.idaho.gov

Job search, resume assistance available in seven southeastern Idaho communities – from American Falls to the Utah border.

Idahoans living in rural southeastern Idaho have more options for obtaining services from the Idaho Department of Labor.

With a variety of office hours in seven regional mobile locations – Aberdeen, American Falls, Blackfoot, Malad, Montpelier, Preston and Soda Springs – customers can access services such as resume writing, filling out job applications, preparing for an interview, filing for unemployment benefits and learning about training resources.

These mobile sites are in addition to Labor’s full-service office in Pocatello.

All mobile locations offer walk-in hours and appointments staffed with an Idaho Department of Labor workforce consultant.

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Nominations Open for Idaho’s Outstanding Volunteers & Philanthropists

NEWS RELEASE

For Immediate Release: May 23, 2022
Media Contact: Renee.Bade@labor.idaho.gov

Nominations are open for the annual Idaho Philanthropy Day awards. Each year, volunteers and philanthropists are honored for outstanding contributions to their communities. The virtual event will take place on Nov. 15 to recognize regional winners from eastern, northern and southwestern Idaho.

“Idaho’s volunteers provide enormous benefits to our people and communities across the state. It is important that we take the time to recognize those individuals who give so much back to our state by volunteering their time and talent to improve the lives of those around them,” Gov. Brad Little said.

The program organizers, Serve Idaho, the Governor’s Commission on Service and Volunteerism, and the Idaho Nonprofit Center (INC), encourage community members to nominate their neighbors online at IdahoNonprofits.org. Submissions will be accepted through July 19, 2022. Continue reading →

Idaho’s April Unemployment Rate Falls to Historic Low of 2.6%

NEWS RELEASE

For Immediate Release: May 20, 2022
Media Contact: Karen.JarboeSingletary@labor.idaho.gov or Salvador.Vazquez@labor.idaho.gov

Idaho’s seasonally adjusted unemployment rate was 2.6% in April, down from March’s rate of 2.7%. April’s rate marks the third consecutive month of historic lows since record keeping began in 1976.

Idaho map with county unemployment ratesThe number of Idahoans employed or looking for work grew by 4,770 people (0.5%) to 937,023. Labor force participation increased by 0.1 percentage points between March and April to 62.1%. Idaho’s peak participation rate reached 71.4% in September 1998.

Total employment grew from March by 5,409 (0.6%) to 912,953 while total unemployment dropped by 639 (-2.6%) to 24,070.

According to Help Wanted Online, there were 49,443 online job postings in Idaho during April, or 2.1 job openings for every unemployed Idahoan looking for work.

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Labor employment services expand in south central Idaho

NEWS RELEASE

For Immediate Release: May 18, 2022
Media Contact: Jill.Kleist@labor.idaho.gov

Job search, resume assistance available in four south central Idaho communities.

Idahoans living in Gooding, Hailey, Jerome and Shoshone can now access Idaho Department of Labor services without leaving their communities.

Employment services offered at the four additional locations are in addition to full-service offices in Twin Falls and Burley.

“Our mobile office model is for Idaho citizens without a Labor office in their community,” explains Department of Labor Director Jani Revier. “Our partnerships with local libraries, community centers, city halls and other organizations allow us to deliver face-to-face services to rural Idahoans. Our footprint is larger now than ever before.”

All mobile Labor locations offer walk-in hours and appointments staffed with a Department of Labor workforce consultant who can help with writing resumes, filling out job applications, preparing for an interview, accessing job training resources, filing for unemployment insurance benefits and other services.

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Meridian job fair targeting teen and young adults set for May 21

NEWS RELEASE

For Immediate Release: May 16, 2022
Media Contact: Janelee.Henderson@labor.idaho.gov

A special job fair for Idaho teens and young adults – although anyone is invited to attend – will be held Saturday, May 21, at the Wahooz Galaxy Event Center, 1385 S. Blue Marlin Lane, in Meridian.

The event, sponsored by the Idaho Department of Labor, is scheduled for 11 a.m. to 2 p.m.

Treasure Valley area employers are recruiting for summer and permanent part-time and full-time positions. Job openings include recreation camp counselors, lifeguard, seasonal groundskeeper, cashier, HR generalist, social media content moderator, grocery department associates, customer service specialist, hospitality servers and hosts and several more.

Job seekers are invited to meet participating employers, including DirecTV, Roaring Springs/Wahooz, Teleperformance, The Grove Hotel, Hotel 43, Albertsons, Bogus Basin, Brundage Mountain Resort, City of Meridian, Home Helpers Home Care, Idaho Youth Ranch, Intermountain Pet Hospital, New Horizon’s Academy, Piedmont/American Airlines, Taco Bell, U.S. Postal Service, Viking Drive-In and more.

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Pocatello Labor office hosts Morton Building hiring event May 17

NEWS RELEASE

For Immediate Release: May 12, 2022
Media Contact: Kandi.Rudd@labor.idaho.gov

Idaho Labor will be hosting a hiring event for one of the area’s newest employers Tuesday, May 17, from 10 a.m. to 2 p.m. at the department’s Pocatello office, 430 N. 5th Ave.

The company is hiring multiple operators and an inventory control coordinator, plant administrative assistant, process improvement coordinator, material recovery specialist, operator and traffic manager.

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Idaho population projected to top 2 million by 2031

Recent population projections from the Idaho Department of Labor anticipate Idaho will continue its record of rapid growth, with the total statewide population crossing over 2 million for the first time by 2031.

The 2020 Census revealed the Gem State was the second-fastest growing state in the nation over the decade from 2010 to 2020, and single-year population estimates have ranked Idaho as the fastest-growing state for the past five years.

Idaho’s Labor Department’s latest projections anticipate a statewide growth rate of 1.1% per year over the 10-year period from 2021 to 2031, adding a total of 227,880 new residents to the state. This will raise Idaho’s population from 1,888,533 in 2021 to 2,116,413 in 2031.

All six of Idaho’s substate regions are expected to grow over the coming decade, with southwestern Idaho leading at 16.3% projected growth, followed by northern Idaho at 13%. These two regions together are expected to account for more than three quarters of the state’s total growth.

TABLE 1: Projected population growth by region

Projected Population Growth by Idaho Region

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Vacancy rates provide insight to hiring challenges

The exceptionally tight labor market in Idaho has left many employers hard-pressed to fill job openings. The monthly vacancy yield rate – the number of hires each month relative to the number of job openings at the end of the previous month – provides a barometer for employers’ ability to fill openings while its inverse provides an implied number of months to fill an opening.

An unprecedentedly tight labor market

Well before the COVID-19 pandemic and the economic disruptions it brought, the Idaho labor market would have been characterized as “tight,” but once businesses and the economy at-large reopened, the excess demand for workers relative to their supply only intensified.

One key barometer of a labor market is the ratio of job openings, or vacancies, to the unemployed, which is how macroeconomists typically define a labor market’s “tightness.” The larger the number, the more job openings are chasing after a fixed number of idle workers. For high ratios, we would typically expect to see wages rise as employers are forced to compete for limited talent; conversely, for small ratios, we would expect wages to fall as workers are forced to compete for a limited number of jobs.

Figure 1 plots the monthly job openings-to-unemployed ratio for Idaho as well as the United States for 2001-2021, adjusted for seasonality effects. For the entire sample, the average labor market tightness was about 0.81 openings for every unemployed Idahoan. Throughout 2021 the ratio hovered between 1.5 and 2, and by year’s end it reached a record 2.18.

Figure: labor market tightness

Note: Job openings are for total nonfarm jobs.
Source: Idaho Department of Labor, U.S. Bureau of Labor Statistics.

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