NEWS RELEASE
For Immediate Release: Sept. 5, 2023
Media Contact: Matthew.Paskash@labor.idaho.gov
The supply and cost of workers and high labor turnover are among top concerns of Idaho businesses who participated in an Idaho Department of Labor survey this spring.
This inaugural Idaho business climate survey was designed to uncover significant business concerns, desired labor force skills, leadership demographics, remote work trends and future growth expectations among Idaho employers.
NEWS RELEASE
For Immediate Release: Sept. 6, 2023
Media Contact: Craig.Shaul@labor.idaho.gov
According to the U.S Census Bureau, there were 122,331 veterans living in Idaho in 2021, or 8.6% of the total adult population. Quite a few re-enter the workforce after their service.
Two Idaho Department of Labor economists, Matthew Paskash and Ryan Whitesides, will present labor market information on the state’s veteran population and desirable workforce traits of veterans at a free webinar, Tuesday Sept. 12. Continue reading
Idaho’s population growth has been growing fast – so quickly that the state had the No. 1 growth rate in the nation at 21.5 % from 2012-2022, according to the U.S. Census Bureau.
Close to 90% of the state’s population growth stems from rapid net domestic migration into Idaho and not from Idaho residents suddenly deciding to have lots of babies. Idaho’s birth rate of 11.8 births per 1,000 population in 2021 (12th highest in the nation) was a 29% decline compared with 16.6 in 2007, fourth highest in the nation at the time). The rate remains higher than most of Idaho’s bordering neighbors, such as Oregon at 9.6 (fourth lowest), Montana at 10.2 and Washington at 10.8. Nationwide, birth rates per 1,000 population have decreased 23%, from 14.3 in 2007 to 11.0 in 2021 [1].
Migration is contributing to a higher number of school-age students in Idaho today than expected based on Idaho births alone but is still unable to reverse the trend that Americans in general are having significantly fewer babies than in the past.
Information provided in these news updates is from professional sources, news releases, weekly and daily newspapers, television and other media.
Northern Idaho
North Central Idaho
Southwestern Idaho
South Central Idaho
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Apprenticeships are a valuable workforce training option to help combat Idaho’s current labor challenges. Apprenticeship’s “earn while you learn” method allows for a more financially viable education than a traditional degree by combining classroom and on-the-job training for a more holistic educational experience.
As technology changes how and where we work, apprenticeships have the ability to adapt to changes in employer needs faster than a traditional degree and can be a win-win workforce solution for employees and employers.
Current labor market and future needs of employers
The following graph helps illustrate how the current labor market has evolved since 2015. Before the pandemic, the number of job postings and unemployed persons had a stable trend. When the pandemic hit, the number of unemployed spiked, but returned to its pre-pandemic level fairly soon. Job postings did not fall back to pre-pandemic levels, leaving the demand (job postings) outstripping supply (available workers), creating a current labor shortage of roughly 1.75 job openings per unemployed person in Idaho.
Information provided in these news updates is from professional sources, news releases, weekly and daily newspapers, television and other media.
Northern Idaho
North Central Idaho
Southwestern Idaho
South Central Idaho
Southeastern
Eastern Idaho
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NEWS RELEASE
For Immediate Release: July 5, 2023
Media Contact: Craig.Shaul@labor.idaho.gov and Kandi.Rudd@labor.idaho.gov
Two webinars in July hosted by the Idaho Department of Labor will showcase how Registered Apprenticeships are a valuable investment to businesses.
The first webinar takes place on Tuesday, July 11, from 11 a.m. to noon MDT via Zoom.
Information provided in these news updates is from professional sources, news releases, weekly and daily newspapers, television and other media.
Northern Idaho
North Central Idaho
Southwestern Idaho
South Central Idaho
Southeastern
Eastern Idaho
Region
Idaho may not have the highest overall wage rates in the nation, but 11 of the Gem State’s in-demand occupations command premium pay levels above those of all other states. High wages compared with other states, however, indicates these occupations in Idaho are in demand and employers are having to raise wages to attract the level and skills of workforce they require.
Occupations offering the first or second highest median wages for all states
Of the over 600 occupations in Idaho where wage data is publicly available, Idaho pays the first- or second-highest annual median wages by state for 11 specialized job titles. Idaho is ranked No. 1 in median wages for airline pilots, motor vehicle electronic equipment installers, and forest and conservation workers.
Idaho’s median wages are second highest in the nation for physicists, mining and geological engineers, electrical and electronics drafters, mining machine operators, hearing aid specialists, mail sorters, and logging equipment operators and log graders/scalers. All these occupations pay wages higher than the average U.S. median.
This analysis article includes updated data from an article published on this blog in January 2022, “Job Creation and New Startups in Idaho”
New private establishment formations
Idaho had considerably more startups relative to the local labor force than the nation overall, with the years 2010 through 2012 being one notable exception. Unlike past business cycles, the pandemic saw many Idahoans and Americans starting businesses as opportunity costs fell. Work furloughs and layoffs initially reduced employment opportunities and low interest rates lowered the threshold return on investment for prospective business ventures.
By 2022, there were more than 10 new private establishments in Idaho for every 1,000 Idahoans in the labor force. Nationally, it was over six new private establishments for every 1,000 Americans in the labor force.
Between 1994 and 2022, the annual number of new private establishments in Idaho (i.e., those less than a year old since opening) grew from 3,249 to 10,088, a 210.5% increase or about 4.1% on an annual basis. By comparison, the number of new establishments nationwide grew 87.3% or about 2.3% on an annual basis. This can be seen in Figure 1, with Idaho plotted along the left vertical axis and the United States along the right.
Generally, the formation of new private establishments has tended to be pro-cyclical — rising in economic booms, falling during recessions. Both the state and nation experienced declines in the number of new private establishments during the recession in the early 2000s and, more prominently, again during the Great Recession (2008-3009). However, growth rates within Idaho and across the country ramped up during the pandemic despite a deep contraction in economic activity in 2020. This exception to the rule could be attributable to the unique set of circumstances of the time that reduced the opportunity cost of starting a new business for many individuals, mainly a lack of employment opportunities due to large furloughs of the workforce. In addition, successive rounds of household stimulus payments and cheap credit allowed many new businesses to get off the ground. Continue reading
