NEWS RELEASE
For Immediate Release: April 19, 2024
Media Contact: William.Winkle@labor.idaho.gov or
Salvador.Vazquez@labor.idaho.gov
– State first in nation for over-the-year nonfarm job growth at 3.7% –
Idaho’s seasonally adjusted unemployment rate was 3.3% in March, unchanged since September 2023.
The state’s labor force increased by 2,029 people (0.2%) to 971,488 while the labor force participation rate — the percentage of people 16 years of age or older who are either employed or looking for work — held steady at 62.6% between February and March.
Total employment increased by 2,092 (0.2%) to 939,175 as unemployment decreased by 63 (-0.2%) to 32,313.
Idaho’s nonfarm jobs increased by 3,100 to 866,300 in March. Industry sectors with the greatest over-the-month gains included nondurable goods manufacturing (2.1%); arts, entertainment, and recreation (1.2%); other services (1.1%); finance and insurance (1.0%); state government (0.9%); construction (0.8%); wholesale trade (0.8%); federal government (0.7%); retail trade (0.6%); and durable goods manufacturing (0.5%).
Industries that experienced job declines in March included private educational services
(-1.8%) as well professional and business services (-0.8%).
Four of Idaho’s six Metropolitan Statistical Areas (MSAs) had over-the-month nonfarm job increases in March. Lewiston saw the largest increase with (0.7%), followed by Boise (0.4%), Pocatello (0.3%) and Idaho Falls (0.2%). Twin Falls saw a decrease of 0.2% while Coeur d’Alene was unchanged.
Year over Year
Idaho’s 3.3% unemployment rate for March 2024 was up from 2.9% the prior year. The labor force was up 1.7%, an increase of 16,276 people.
The number of unemployed Idahoans increased 18.5% (5,054) while the total number of employed increased 1.2% (11,222).
Total nonfarm jobs increased by 3.7% (30,800) – the highest percentage change in the nation. Most major industry sectors gained jobs except other services (-1.8%), information (-1.1%), and finance and insurance (-0.3%).
All of Idaho’s MSAs saw year-over-year nonfarm job gains in March. Coeur d’Alene had the greatest increase at 4.8%, followed by Lewiston (4.1%), Boise (3.2%), Idaho Falls (3.2%), Pocatello (2.3%) and Twin Falls (1.6%).
National Comparisons
Nationally, the unemployment rate decreased between February and March, down to 3.8% from 3.9%. The number of unemployed decreased by 29,000 to 6.4 million. Total nonfarm payroll employment rose by 303,000 (0.2%) to 158.1 million.
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Upcoming Idaho Release Schedule:
May 17, 2024: Statewide labor force and nonfarm jobs data for April 2024
June 21, 2024: Statewide labor force and nonfarm jobs data for May 2024
Find more labor market information at lmi.idaho.gov
This project is 100% funded by the U.S. Department of Labor as part of an Employment and Training Administration award totaling $695,785.