Monthly Archives: December 2024

Around Idaho: Economic activity, December 2024

Map of IdahoInformation provided in these news updates is collected up until the end of December 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

Regional news

Bonner County

  • An application for a large industrial facility in northern Sandpoint is under review by the city’s Planning and Zoning Commission. Although the operator of the proposed facility has not been announced yet, the traffic impact study for the project indicates a 25,500 square foot facility which would employ roughly 150 people. Source: Coeur d’Alene Press

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Idaho’s labor markets normalize and project further growth

Idaho’s economy and labor market experienced extreme and varied conditions in recent years. The COVID-19 pandemic in 2020 sparked an unprecedented burst of job losses, pushing unemployment to record levels in Idaho and across the nation. However, the return to normal economic activity in 2022 left Idaho employers rushing to refill the jobs temporarily lost during the pandemic, resulting in open job postings rising to nearly 80,000 by the summer of 2022.

Within the span of a few years, Idaho experienced record levels of both unemployment and unfilled jobs, reaching both extremes of the labor market. Idaho reached its highest ever level of unemployment in April 2020 at 11.8%, before plunging to its lowest unemployment rate in history in April 2022 at 2.7%. Continue reading →

Idaho’s population surpasses 2 million in 2024

NEWS RELEASE

For Immediate Release: Dec. 20, 2024
Media Contact: Samuel.Wolkenhauer@labor.idaho.gov or Jan.Roeser@labor.idaho.gov

Correction: This release originally listed incorrect data in the last paragraph regarding composition of change to the population. Net migration from other U.S. states has been updated to read 74.1%, natural growth has been updated to read 13.4% and international migration has been updated to read 13.6%.

Idaho’s population continued its long-running pattern of growth in 2024, surpassing 2 million residents, according to the U.S. Census Bureau.

The state’s total population on July 1, 2024, was 2,001,619 people, an increase from 1,971,122 people in 2023. The total increase of 30,497 people gave Idaho an annualized growth rate of 1.5%, which ranked 7th in the nation. This information comes from the newly released Vintage 2024 Population Estimates published by the U.S. Census Bureau on Dec. 19.

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Idaho’s November unemployment rate remains at 3.7%

NEWS RELEASE

For Immediate Release: Dec. 20, 2024
Media Contact: William.Winkle@labor.idaho.gov or Craig.Shaul@labor.idaho.gov

Editor’s note: This release was updated Dec. 20 at 1:55 p.m. MST to include the following statistic: Idaho’s seasonally adjusted over-the-year nonfarm job increase of 3.1% was first in the nation.

– State first in nation for over-the-year nonfarm job growth at 3.1% –

Idaho’s seasonally adjusted unemployment rate was 3.7% in November, unchanged from October.

The state’s labor force increased by 3,188 people (0.3%) to 996,574 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 63.3% to 63.4% between October and November.

Total employment increased by 2,537 (0.3%) to 959,460 as unemployment increased by 651 (1.8%) to 37,114. Continue reading →

Idaho leads nation in income growth rate and dollar change

NEWS RELEASE

For Immediate Release: Dec. 16, 2024
Media Contact: Jan.Roeser@labor.idaho.gov

The U.S. Census Bureau’s 2019-2023 American Community Survey (ACS) release shows Idaho leads the nation in median household income growth rate at 15.5%, compared with the previous survey for 2014-2018.

In addition, Idaho’s median household income increased by $10,011 from the previous five-year survey, doubling the nation’s uptick of $5,144 and higher than the other 49 states and District of Columbia.

Arizona ranked second for its growth rate at 12.3% and California ranked second for median household income dollar change which increased by $9,630. The nation’s income growth rate was 7%.

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Labor economist will discuss Idaho’s current economy and labor force at webinar Dec. 17

NEWS RELEASE

For Immediate Release: Dec. 11, 2024
Media Contact: Samuel.Wolkenhauer@labor.idaho.gov

Idaho Department of Labor economist Sam Wolkenhauer will discuss how the state’s economy is showing levels of growth at a free webinar Tuesday, Dec. 17.

The webinar will include topics such as inflation, employment, the unemployment rate and population. The presentation takes place from 11 a.m. to noon MT over Zoom. Continue reading →

Monthly hiring event in Post Falls will take place Dec. 11

NEWS RELEASE

For Immediate Release: Dec. 4, 2024
Media Contact: Jaquetta.Banks@labor.idaho.gov

A hiring event in Post Falls will take place Wednesday, Dec. 11, from 10 a.m. to 1 p.m. at the Idaho Department of Labor Post Falls office. The address is 600 N. Thornton St.

Employers planning to attend include CityServiceValcon, All Ways Caring HomeCare, Environmental Control, Fred Meyer, Inland Chess, North Idaho Dental, Sunshine Minting, Toastmasters, Access Care at Home and more.

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Boise Multi-Employer Job Fair will offer employment opportunities, Dec. 10

NEWS RELEASE

For Immediate Release: Dec. 3, 2024
Media Contact: Joe.Goitiandia@labor.idaho.gov

Employers in Ada County will be available at a job fair Tuesday, Dec. 10, from 9 to 11:30 a.m. at the State of Idaho Chinden Campus, Building 6 conference room. The address is 11351 W. Chinden Blvd.

Employers planning to attend include the State of Idaho Military Division, Treasure Valley YMCA, Ada County Highway District, Idaho Bankers Association, Bogus Basin, West Ada School District, City of Boise, Idaho Youth Ranch, Boise State University, CS Beef Packers and more.

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