Tag Archives: idaho economy

Demystifying Idaho’s Unemployment Rate

Idaho’s seasonally-adjusted unemployment rate was 2.6 percent for November 2018, the most recent data available. This is the 15th consecutive month that Idaho’s rate has been at or below the low rate of 3 percent. But what does 3 percent employment mean? Three percent of what?

The answer to what the unemployment rate means and how it’s determined is best understood within the context of the numbers that are also reported with it each month. The unemployment rate is a figure that measures the unemployed segment of the labor force, which is itself a subgroup of the civilian population and one of a few terms that describe different states of people in the population and their relationship with work and the economy.

The major subgroups of the larger civilian population include the labor force, employed and unemployed. The relationship among these various groups provide the basic measures of the participation rate and unemployment rate.

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Idaho’s November Unemployment Rate Down Slightly to 2.6 Percent

For Immediate Release: Dec. 21, 2018

Information Contacts: Craig Shaul (208) 332-3570 ext. 3201 or Karen Jarboe Singletary (208) 332-3570 ext. 3215

Idaho’s seasonally adjusted unemployment rate was 2.6 percent in November, down slightly from October and continuing at or below 3 percent for the 15th consecutive month.

The state’s labor force – the total number of people 16 years of age and older working or looking for work – was 854,243, increasing by 0.1 percent and essentially unchanged since July.

Total employment increased by 1,198 to 831,851, while the number of unemployed people decreased by 433 to 22,392.

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Around Idaho: Economic Activity in November 2018

Information provided in this article 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

 

NORTHERN IDAHO – Benewah, Bonner, Boundary, Kootenai & Shoshone counties

Kootenai County

  • Kootenai County has started construction on a new transit center in the Riverstone development in Coeur d’Alene. The transit center will be located on a four-acre parcel, which is owned jointly by the county and the Coeur d’Alene Tribe. The center is expected to open in the summer of 2019. Source: Spokane Journal of Business
  • Construction has started on a new medical building in Hayden. The $2 million facility will house a new office of the North Idaho Eye Institute, which also has offices in Coeur d’Alene and Post Falls. Source: Spokane Journal of Business
  • The Coeur d’Alene Casino Resort Hotel has begun a $15 million renovation project, which involves an update and improvement of both the gaming and entertainment facilities at the casino. A spokesperson for the casino said the improvements would be completed by March of 2019. Source: Spokane Journal of Business

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Idaho’s October Unemployment Rate Holds at 2.7 Percent

NEWS RELEASE

For Immediate Release: Nov. 16, 2018
Information Contact: Craig Shaul (208) 332-3570 ext. 3201 or Karen Jarboe Singletary (208) 332-3570 ext. 3215

Idaho’s seasonally adjusted unemployment rate stayed at 2.7 percent in October, unchanged from September and continuing at or below 3 percent for the 14th consecutive month.

The state’s labor force – the total number of people 16 years of age and older working or looking for work – was essentially unchanged since July at 853,444.

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Silver Tsunami Could Swamp Idaho Employers

The silver tsunami — the aging of the baby boom generation — is posing a challenge to Idaho employers throughout the state. In Idaho, baby boomers – Americans born between 1946 and 1964 – are retiring at the rate of 52 a day. In a tight labor market, replacing these workers is not easy. Even when a replacement worker is found, the business has still lost an experiencedworker with deep institutional knowledge about the business — things like how a problem that just cropped up was solved 15 years ago, who’s the best contact at a supplier that isn’t providing what was promised, and other insights that contribute to a business’s competitiveness and bottom line.

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Idaho’s July Unemployment Rate Unchanged at 2.9 Percent

NEWS RELEASE

For Immediate Release: Aug. 17, 2018
Information Contact:  Craig Shaul (208) 332-3570 ext. 3201 or Robert Kabel (208) 332-3570 ext. 3886

Over-the-Year Job Growth Second in Nation Behind Utah

Idaho’s seasonally adjusted unemployment rate remained at 2.9 percent in July, continuing at or below 3 percent for the 11th consecutive month.

The state’s labor force – the total number of people 16 years of age and older working or looking for work – continued to increase, gaining 1,086 people from June to July for a total of 852,714.

Total employment increased by 998 to 828,111, keeping pace with the state’s labor force growth, while the number of unemployed remained virtually unchanged at 24,603.

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Report Examines Future of Rural Idaho

NEWS RELEASE

For Immediate Release: July 27, 2018
Information Contact: Sam Wolkenhauer, (208) 457-8789 ext. 4451

While Idaho continues to rank among the fastest-growing states in the nation, the state’s population growth is primarily concentrated in urban areas while the population in rural areas is largely limited to people age 55 and older, according to a report released this week by the Idaho Department of Labor.

The Future of Rural Idaho examines the economic and demographic challenges facing the state’s rural areas amidst the growing gulf between rural and urban centers, which are driving forces for Idaho’s economic future.

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Idaho’s June Unemployment Rate Unchanged at 2.9 Percent

NEWS RELEASE

For Immediate Release: July 20, 2018
Information Contact: Karen Jarboe Singletary (208) 332-3570 ext. 3215 or Robert Kabel (208) 332-3570 ext. 3886

— Sixth Month in Top Two Over-the-Year Job Growth in the Nation —

Idaho’s seasonally adjusted unemployment rate remained at 2.9 percent in June, continuing at or below 3 percent for the 10th consecutive month.

The state’s labor force – the total number of people 16 years of age and older working or looking for work – continued to increase, gaining 971 people from May to June for a total of 851,599.

Total employment increased by 1,032 to 827,084, keeping pace with the state’s labor force growth, while the number of unemployed remained virtually unchanged at 24,515. Continue reading

Idaho’s May Unemployment Rate Unchanged at 2.9 Percent

NEWS RELEASE

For Immediate Release: June 15, 2018
Information Contact: Karen Jarboe Singletary (208) 332-3570 ext. 3215 or Robert Kabel (208) 332-3570 ext. 3886

— Idaho Remains in Top Two for Over-the-Year Job Gains for Fifth Straight Month —

Idaho’s seasonally adjusted unemployment rate stayed steady at 2.9 percent in May, continuing a nine-month streak of 3 percent or lower.

The state’s labor force – the total number of people 16 years of age and older working or looking for work – continued to increase, gaining 1,222 people from April to May for a total of 850,605.

Total employment grew 1,203 to 826,026 in May, driving the increase of the state’s labor force growth, while the number of unemployed remained virtually unchanged at 24,579.

Idaho’s labor force participation rate remained essentially flat at 63.9 percent. Continue reading

Twin Falls, Jerome counties elevated from micropolitan to metropolitan area

“Metropolitan” is the new delineation for the Twin Falls area comprised of Twin Falls and Jerome counties, announced in the Federal Register by the Office of Management and Budget (OMB) dated August 2017. Before that, this geographic area or ‘delineation’ was designated the Twin Falls Micropolitan Statistical Area (MicSA).

In practical terms, what does this change mean?

The most important clue is found in the second word — Metropolitan Statistical Area (MSA). The purpose of the delineation is strictly for statistical activities, although a number of agencies both inside and outside the federal government make use of the delineation for nonstatistical program applications.

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