Monthly Archives: May 2024

Idaho sets record lows in claim duration and unemployment rates

Idaho’s 9.3-week average duration of unemployment claims during 2022-2023 was the lowest in the state’s history and the second lowest in the nation. By comparison, the U.S. average was 15 weeks. Similarly, the state’s 2.7% average unemployment rate for 2022 was the lowest since records began in 1976, eclipsing the previous low of 2.9% in the historically tight labor market of 2018 and 2019.

Low unemployment rates are not a new thing for Idaho. The state’s unemployment rate has been below 3% for three of the last six calendar years (between 2018-2023). Idaho has not recorded an annual unemployment rate of over 4% since 2014 (excluding the immediate post-pandemic period years of 2020-2021). The U.S. has seen rates over 4% as recently as 2017.

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Caldwell’s growing population means more job opportunities

NEWS RELEASE

For Immediate Release: May 29, 2024
Media Contact: Traci.Petitt@labor.idaho.gov

Idaho’s population continues to grow, especially, in the southwestern region of the state. The U.S. Census Bureau projected a population estimate of 68,336 people, as of July 1, 2023, in Caldwell – alone. The city has a high growth rate of 3.7% and its increase over the year of almost 2,500 people ranked it third highest in numerical growth.

To help people moving into the region find work or Idahoans to change careers, the Idaho Department of Labor is hosting an early summer job fair, Tuesday, June 4, from 10 a.m. to 1 p.m. at the Caldwell Labor office. The address is 4514 Thomas Jefferson St.

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Around Idaho: Economic activity, May 2024

Information provided in these news updates is collected up until the end of May and includes professional sources, news releases, weekly and daily newspapers, television and other media.

Northern Idaho
North central Idaho
Southwestern Idaho
South central Idaho
Southeastern Idaho
Eastern Idaho

 

 

 

NORTHERN IDAHO

Benewah, Bonner, Boundary, Kootenai and Shoshone counties

Benewah County

  • Stimson Lumber will permanently close its small-log mill in Plummer by August 2024. The Plummer mill produces dimensional lumber (2×3, 2×4, 2×6) as well as 4×4 boards and 5×4 decking for Home Depot, Lowes and other retailers. The 22 employees, currently working there, will be offered positions at Stimson’s other five mill locations in Idaho including St. Maries, Priest River and Oregon. Source: Spokesman Review
  • The Benewah County Veteran’s Outreach Center has reached enough funding to begin construction of a new building on Main Avenue in St. Maries, which could start as early as mid-June. The new building will contain a full kitchen, handicap bathrooms, offices and other additional space. Source: St. Maries Gazette Record
  • The Big Eddy Bar and Grill in St. Maries recently opened under new ownership but was consumed in a devastating fire on May 16. Source: Big Eddy Bar and Grill

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Idaho’s April unemployment rate remains at 3.3%

NEWS RELEASE

For Immediate Release: May 17, 2024
Media Contact: William.Winkle@labor.idaho.gov or Craig.Shaul@labor.idaho.gov

Idaho’s seasonally adjusted unemployment rate was 3.3% in April, unchanged since September 2023.

The state’s labor force increased by 2,595 people (0.3%) to 974,053 while the labor force participation rate — the percentage of people 16 years of age or older who are either employed or looking for work — increased to 62.7% from March’s 62.6%.

Total employment increased by 2,606 (0.3%) to 941,771 as unemployment was relatively unchanged at 32,282. Continue reading →

Unemployment insurance requirements in Idaho are changing July 7

NEWS RELEASE

For Immediate Release: May 15, 2024
Media Contact: Casey.Hofland@labor.idaho.gov

Starting July 7, Idahoans filing for unemployment insurance must complete and report five work search-related activities each week.

The increase from two to five activities claimants will be required to report each week is an outcome of House Bill 686, which passed during the 2024 legislative session and was signed into law by Gov. Brad Little.

“The Legislature’s intent with HB 686 is twofold — to increase the opportunities for Idahoans to secure meaningful work and to help businesses find employees,” said Idaho Department of Labor Director Jani Revier.

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Learn about Idaho’s unemployment insurance Navigators, May 14

NEWS RELEASE

For Immediate Release: May 8, 2024
Media Contact: Craig.Shaul@labor.idaho.gov or Lisa.Grigg@labor.idaho.gov

Idaho’s job market has remained remarkably robust since September 2023, maintaining a steady unemployment rate of 3.3%. Excluding the immediate post-pandemic period of 2020-2021, Idaho has not had an annual unemployment rate of over 4% since 2014, according to Labor Economist Lisa Grigg.

“Despite an incredibly low unemployment rate statewide, businesses still close, change processes, or must halt work due to seasonal factors, leading workers to rely on unemployment benefits as a temporary bridge between jobs,” Grigg said.

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Wages increase in Ada County, Labor puts on hiring event

NEWS RELEASE

For Immediate Release: May 9, 2024
Media Contact: Joe.Goitianda@labor.idaho.gov

The average covered wage for all industries in Ada County has grown by 25% since 2019, according to Labor Economist Jan Roeser.

And from a recent news release from the Idaho Department of Labor, the Boise Metropolitan Statistical Area had the largest average hourly wage increase of $2.62 over the year.

Job seekers in Boise who are looking to change careers, are invited to a hiring event Wednesday, May 15, from 11:30 a.m. to 2:30 p.m. at the Boise Public Library. The library is located at 715 S. Capitol Blvd.

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Migration into northern Idaho creates job opportunities for residents

NEWS RELEASE

For Immediate Release: May 7, 2024
Media Contact: Tara.McKelvey@labor.idaho.gov

There has been significant migration into northern Idaho, according to Labor Economist Lisa Grigg. Within a five-year span, 2018-2023, the region’s population increased by 15%.

“A growing population requires more goods, services, infrastructure and construction activities,” Grigg said. “The need for labor also remains strong.”

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Idaho’s 2023 average hourly wage increased 8.3% from 2022

NEWS RELEASE

For Immediate Release: May 7, 2024
Media Contact: Amanda.Rea@labor.idaho.gov
or John.Panter@labor.idaho.gov

Idaho’s average wage for all occupations was $26.75 per hour in 2023, according to recently released data from the Bureau of Labor Statistics’ Occupational Employment and Wage Statistics survey. This amounts to an increase of 8.3%, or $2.06 per hour, from the year prior.

The median wage, representing the midpoint between lowest and highest earners, also rose from $19.26 per hour in 2022 to $21.27 per hour in 2023 — a 10.4% increase over the year.

All of Idaho’s Metropolitan Statistical Areas (MSAs) had an increase in median wage of over $1.00 from 2022 to 2023. However, average wages and staffing patterns vary across the state. The Boise MSA had the largest average hourly wage increase of $2.62 over the year.

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