NEWS RELEASE
For Immediate Release: June 21, 2024
Media Contact: William.Winkle@labor.idaho.gov or Craig.Shaul@labor.idaho.gov
– State first in nation for over-the-month nonfarm job growth at 0.9% –
Idaho’s seasonally adjusted unemployment rate was 3.3% in May, unchanged since September 2023.
The state’s labor force increased by 1,679 people (0.2%) to 975,713 while the labor force participation rate — the percentage of people 16 years of age or older who are either employed or looking for work — remained at 62.7% between April and May.
Total employment increased by 1,363 (0.1%) to 943,123 as unemployment increased by 316 (1%) to 32,590.
Idaho’s nonfarm jobs increased by 7,600 (0.9%) to 871,000 in May — the largest percentage change among all states. Industry sectors with the greatest over-the-month increases included arts, entertainment, and recreation (10.4%); transportation, warehousing, and utilities (3%); private educational services (2.9%); state government (1.5%); wholesale trade (1.4%); professional and business services (1.2%); durable goods manufacturing (0.9%); health care and social services (0.9%); real estate rental and leasing (0.9%); and construction (0.7%).
Industries that experienced job losses in May included natural resources (-2.3%), information (-2.1%), and federal government (-1.4%).
Four of Idaho’s six Metropolitan Statistical Areas (MSAs) had over-the-month nonfarm job increases in May. Lewiston and Pocatello tied for the largest increase at 1%, followed by Boise (0.9%) and Idaho Falls (0.7%). Twin Falls saw a decrease of 0.4% while Coeur d’Alene was unchanged.
Year over Year
Idaho’s 3.3% unemployment rate for May 2024 was up from 2.9% the prior year. The labor force was up 1.7%, an increase of 16,258 people.
The number of unemployed Idahoans increased 15.3% (4,317) while the total number of employed increased 1.3% (11,941).
Total nonfarm jobs increased by 3.1% (25,900). Most major industry sectors gained jobs except information (-3.2%), other services (-3.2%), finance and insurance (-1.3%), and accommodation and food services (-0.1%).
All of Idaho’s MSAs saw year-over-year nonfarm job gains in May. Lewiston had the greatest increase at 3.4%, followed by Boise (2.9%), Pocatello (2.8%), Coeur d’Alene (2.7%), Idaho Falls (2%) and Twin Falls (0.6%).
Upcoming Idaho Release Schedule:
July 19, 2024: Statewide labor force and nonfarm jobs data for June 2024
Aug. 16, 2024: Statewide labor force and nonfarm jobs data for July 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 the Workforce Information Grant (48%) and matched/dedicated funds (52%) totaling $704,259.