NEWS RELEASE
For Immediate Release: Sept. 20, 2024
Media Contact: William.Winkle@labor.idaho.gov or Craig.Shaul@labor.idaho.gov
Idaho’s seasonally adjusted unemployment rate was 3.5% in August, unchanged from July.
The state’s labor force increased by 3,851 people (0.4%) to 985,722 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 from 62.9% to 63.1% between July and August.
Total employment increased by 2,983 (0.3%) to 950,781 as unemployment increased by 868 (2.5%) to 34,941.
Idaho’s nonfarm jobs increased by 2,300 (0.3%) to 873,500. Industry sectors with the greatest over-the-month increases included information (2.3%); private educational services (1.7%); arts, entertainment, and recreation (1.1%); health care and social services (1.1%); construction (1%); local government (1%); retail trade (1%); and state government (0.6%).
Industries that experienced job losses in August included other services (-2.6%); accommodation and food services (-0.8%); federal government (-0.7%); nondurable goods manufacturing (-0.6%); transportation, warehousing, and utilities (-0.6%); and wholesale trade (-0.5%).
Five of Idaho’s six Metropolitan Statistical Areas (MSAs) had over-the-month nonfarm job increases in July. Lewiston and Pocatello tied for the largest increase at 1%, followed by Boise (0.4%), Twin Falls (0.4%) and Idaho Falls (0.2%). Coeur d’Alene was unchanged in August.
Year over Year
Idaho’s 3.5% unemployment rate for August 2024 was up from 3.2% the prior year. The labor force was up 2.1%, an increase of 20,339 people.
The number of unemployed Idahoans increased 12.1% (3,776) while the total number of employed increased 1.8% (16,563).
Total nonfarm jobs increased by 2.7% (23,100). Most major industry sectors gained jobs except information (-4.3%); other services (-3.6%); natural resources (-2.4%); accommodation and food services (-2.2%); financial activities (-1.4%); and retail (-0.7%).
All of Idaho’s MSAs saw year-over-year nonfarm job gains in July. Pocatello had the greatest increase at 5.4%, followed by Boise (3.6%), Idaho Falls (2.9%), Lewiston (2.7%), Twin Falls (1.8%) and Coeur d’Alene (0.9%).
National Comparisons
Nationally, the unemployment rate decreased between July and August, down to 4.2% from 4.3%. The number of unemployed decreased by 48,000 to 7.1 million. Total nonfarm payroll employment rose by 142,000 (0.1%) to 158.8 million.
Upcoming Idaho Release Schedule:
Oct. 18, 2024: Statewide labor force and nonfarm jobs data for September 2024
Nov. 22, 2024: Statewide labor force and nonfarm jobs data for October 2024
Find more labor market information at lmi.idaho.gov
This project is funded by the U.S. Department of Labor as part of the Workforce Information Grant (48%) and matched/dedicated funds (52%) totaling $704,259.