Category Archives: Labor Market

Around Idaho: Economic activity, November 2024

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

Kootenai County

  • The North Point Plaza development is under construction on Highway 41 north of Post Falls. Early tenants will include a 7-Eleven opening December and a Grocery Outlet store in early 2025. Four additional parcels are available for tenants. Source: Coeur d’Alene Press
  • A new Indigo Urgent Care is under construction in Hayden. Indigo currently operates a network of Urgent Cares across the inland northwest, including in Coeur d’Alene. Source: Coeur d’Alene Press
  • A mixed used building named the “Nonna” building is under development in Post Falls, with commercial space on the ground floor and 33 apartments on the upper three floors. Source: Coeur d’Alene Press

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Idaho’s smallest businesses fuel post-pandemic employer growth

A man working at a bicycle shop

Over the past few years, Idaho has reported one of the highest growth rates for both population and employment. The state has also seen high levels of business startups, driven by a historically large increase in small employer establishments, those with fewer than five employees on payroll.

Idaho employer establishments with fewer than five employees accounted for 73% of all employment establishments in 2023 and comprised 86% of total employer establishment growth over the past five-year period from 2018-2023. These small employers had both the fastest establishment growth rate statewide of all firm sizes and also increased their contribution of statewide covered employment from 8% in 2018 to 10% in 2023.

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Idaho retail industry navigates fast-approaching holiday season

With the holiday season approaching, many Idahoans wonder what recent trends in retail might impact spending and employment this year. Historically, retail has been an enormous revenue source for the U.S. economy.

In 2023, retail sales made up 5.9% of U.S. gross domestic product (GDP) [5]. The National Retail Federation (NRF) predicts holiday retail sales for the U.S. will increase between 2.5% and 3.5% or about $979 to $989 billion. The importance of holiday purchases for Idaho, cannot be understated as retail accounted for 8% of its gross regional product at $9 billion according to Lightcast data.

For Idaho and the U.S., there is a close relationship between inflation and sales, both of which have slowed down. Notably, recent trends indicate a slowdown in employment within the retail sector. A detailed examination of sales reveals these interconnections.

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Labor economists to discuss 2024 Idaho Business Climate survey results during Nov. 12 webinar

NEWS RELEASE

For Immediate Release: Nov. 6, 2024
Media Contact: Craig.Shaul@labor.idaho.gov

Labor Economists Seth Harrington, Lisa Grigg and Brandon Duong will be joined by Research Supervisor Craig Shaul to discuss results from the second annual Idaho Business Climate survey, Tuesday, Nov. 12, from 11 a.m. to noon MT via Zoom.

Idaho Department of Labor economists developed this survey to obtain “real-time” data within the state. Broad measures of national employment data are readily available and released quickly, but statewide data, if available, often lags by as long as one to three years.

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Idaho’s agricultural technicians have third highest average hourly wage of surrounding states

As Idaho’s pumpkin and greens season comes to a close, the work of an agricultural technician is never done. They must work with scientists to collect, analyze and interpret findings to improve the quality of crops and livestock.

The Occupational Employment and Wage Statistics report shares wages and employment of agricultural technicians (Standard Occupational Code 19-4012) across the nation. In 2023, the average hourly wage for this position in Idaho and six of its neighboring states ranged from $20.92 to $29.89, with Idaho near the middle at $24 an hour. Continue reading →

Where the Idaho construction industry is finding its workforce

The construction industry in Idaho is a leader in workforce expansion and has seen significant growth over the past decade. From 2014 to 2023, employment has almost doubled and added nearly 31,000 workers [2]. This was despite being interrupted by a short recession. For industry growth to have occurred, there had to be available workers to meet the demand.

First, it’s important to note where the construction labor demand is located in Idaho, taking industry job postings and geography into consideration. The job posting demand for commercial, residential and infrastructure construction occupations has been concentrated mostly in Ada, Bonneville, Bannock, Canyon, Kootenai and Twin Falls counties the past 10 years, shown in Figure 1 [1]. Naturally, construction sector growth has also been more prevalent in these same counties where the majority of the population growth for the state has occurred.

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Around Idaho: Economic Activity, October 2024

Map of IdahoInformation provided in these news updates is collected up until the end of October 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 labor market information

  • Labor demand in northern Idaho remained stable in September, with a total of 1,860 unique job postings in the region – a slight decline from 1,923 in August. The unemployment rate decreased slightly this month from 4.9% to 4.8%, increasing by 0.7% from September 2023. Overall, total employment has increased slightly over the last year.

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Around Idaho: Economic activity, September 2024

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

Region

  • Labor demand in northern Idaho remained stable in August 2024, with a total of 1,923 unique job postings in the region – a slight decline from 2,043 in July. The unemployment rate rose slightly in August from 4.8% to 4.9%, increasing by 0.8% from August of last year. Overall, total employment has increased slightly over the last year.

Region News

Bonner County

  • The Idaho Department of Lands auctioned off eight (now-former) endowment lots on Priest Lake, netting more than $11.4 million, which was more than $500,000 above the appraised value of the lots. Source: Bonner County Daily Bee

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Idaho ranked 4th nationally in family income growth

NEWS RELEASE

For Immediate Release: Sept. 13, 2024
Media Contact: Jan.Roeser@labor.idaho.gov

Median family income

Idaho experienced statistically significant changes in its median family income from 2022, rising by 2.7%. The state ranked 4th in growth nationally, according to the latest American Community Survey from the U.S. Census Bureau.

Montana was the only other western state that ranked in the top 10.

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Department of Labor names new economist for southeastern Idaho

NEWS RELEASE

For Immediate Release: Sept. 10, 2024
Media Contact: Craig.Shaul@labor.idaho.gov

Brandon Duong is the new Idaho Department of Labor regional labor economist for southeastern Idaho, covering Bannock, Bear Lake, Bingham, Caribou, Franklin, Oneida and Power counties. He replaces the previous economist, Matthew Paskash.

Brandon Duong

Duong earned a bachelor’s degree in statistics with an emphasis on actuarial science from Utah State University in May. After graduating, he decided to return to his roots in Pocatello to serve Idahoans.

He also interned with the Centers for Medicare and Medicaid Services where he assisted checking compliance of Medicare Part C plans.

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