Tag Archives: Employment

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 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 →

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.

Continue reading →

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

Continue reading →

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.

Continue reading →

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.

Continue reading →

Idaho’s October unemployment rate increases to 3.7%

NEWS RELEASE

For Immediate Release: Nov. 15, 2024
Media Contact: William.Winkle@labor.idaho.gov or Craig.Shaul@labor.idaho.gov

Idaho’s seasonally adjusted unemployment rate was 3.7% in October, up from 3.6% in September.

The state’s labor force increased by 3,738 people (0.4%) to 993,428 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 63.2% to 63.3% between September and October.

Total employment increased by 3,037 (0.3%) to 956,960 as unemployment increased by 701 (2%) to 36,468.

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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Job postings in Pocatello continue to be filled, with 200 employers hiring in the region

NEWS RELEASE

For Immediate Release: Oct. 30, 2024
Media Contact: Jennifer.Heisler@labor.idaho.gov

In September, there were 617 unique job postings for southeastern Idaho, with approximately 200 employers seeking workers, according to Conference Board data via Lightcast.

“Opportunities for job seekers are in a variety of industries including in transportation, vegetable manufacturing, semiconductor manufacturing, government support and more,” Labor Economist Brandon Duong said. “Skills in power tool operation, bookkeeping and heavy equipment machinery are also in high demand.”

Continue reading →