Idaho’s continued low unemployment rate is one of many aspects of the state’s economy presented to the Idaho Legislature’s Economic Outlook and Revenue Assessment Committee Jan.5, 2023. Labor’s presentation covered the outlook for the state’s labor participation rate, its ongoing need for more workers, expected growth and decline in specific industries, population, housing issues impacting the economy and more.
A study by Idaho Department of Labor economist Matthew Paskash analyzes the impact of COVID-19 on health care workers by comparing pre-pandemic, current and projected data in the areas of employment and wages, job postings, health care program completions and Idaho Department of Labor occupational and industry projections. The study also examines additional insights from stakeholder interviews and a survey of health care workers.
This analysis concludes with an anticipated near-to-medium-term outlook of shortages of health care practitioners in Idaho. To combat these shortages, the state may explore efforts in attracting health care workers, expanding education and training programs, and stemming the outflow of health care practitioners to other states.
Idaho’s economic growth has been disappointingly slow since the recession ended, however, the last half of 2014 saw it pick up a bit. Many economists expect to see increased growth. The U.S. economy is primed, with consumption and investment expected to surge and government to remain neutral. Trade – partly because of a weakening global economy and partly because of a surge in the value of the dollar is predicted to be the only thing that slows the country’s recovery. Continue reading →