Idaho’s August unemployment rate increases slightly to 2.7%

NEWS RELEASE

For Immediate Release: Sept. 16, 2022
Media Contact: Craig.Shaul@labor.idaho.gov or Karen.JarboeSingletary@labor.idaho.gov

Labor force expands by 4% over the year

Idaho’s seasonally adjusted unemployment rate was 2.7% in August, up 0.1 percentage points from July – the seventh consecutive month Idaho has been below 3%.

August’s labor force growth saw increases in both employed and unemployed persons. The number of Idahoans employed or looking for work grew by 4,384 people (0.5%) to 956,785. Total employment grew by 3,103 (0.3%) to 931,077 while total unemployment increased by 1,281 (5.2%) to 25,708.

Labor force participation increased by 0.1 percentage points between July and August to 62.7%. Idaho’s peak participation rate reached 71.4% in September 1998.

Idaho’s nonfarm jobs met seasonal expectations in August, showing an adjusted increase of only 200 jobs to 822,600. Industry sectors with the greatest over-the-month gains include transportation, warehousing and utilities (0.9%); arts, entertainment and recreation (0.6%); and construction (0.5%).

Industries with the greatest job declines in August were natural resources (-2.3%), health care and social services (-0.9%) and other services (-0.4%).

Three of Idaho’s six Metropolitan Statistical Areas (MSAs) saw over-the-month nonfarm job losses in July. Coeur d’Alene experienced the greatest decrease (-0.6%), followed by Idaho Falls (-0.1%) and Boise (-0.1%). Twin Falls experienced the only increase among MSAs with 0.4%. Lewiston and Pocatello saw no noticeable over-the-month change.

Year over Year

Idaho’s unemployment rate was down 0.8 percentage points from August 2021. The labor force was up 4%, an increase of 36,739 people.

The number of unemployed Idahoans dropped 20.4% (-6,605), while the number of employed rose 4.9% (43,344).

Idaho’s total nonfarm jobs increased by 2.6% (21,000). Every major industry sector showed over-the-year job increases except for other services (-4.9%), private educational services (-1.4%), information (-1.2%), financial activities (-1%), accommodation and food services (-0.8%) and federal government (-0.8%).

Five of Idaho’s MSAs saw year-over-year nonfarm job gains. Twin Falls saw the greatest increase at 4.1%, followed by Boise (2.4%), Idaho Falls (2.4%), Pocatello (2.1%) and Coeur d’Alene (1.6%). Lewiston saw no change.

National Comparisons

Nationally, the unemployment rate increased to 3.7% in August from July’s rate of 3.5%, and the number of unemployed increased by 357,002 to 6.1 million. Total nonfarm payroll employment rose by 315,000 (0.2%) to 152.7 million, which was just above pre-pandemic levels.
— end —