Tag Archives: idaho economy

The present and future of broadband in Idaho

High-speed internet, or broadband internet, once seen as a luxury service, is now understood to be a critical utility that brings equitable economic opportunity to many.

Broadband not only brings social connectivity, but can raise property values, increase job opportunities, boost education access and expand health outcomes through telehealth. [1] However, the difference in access between urban and rural America continues and was especially apparent once the pandemic set in.

This gap, known as the “digital divide,” is a gap rural America is all too familiar with. From 2017-2021, rural households in Idaho have seen smaller percentage increases in internet subscriptions (1.3% fewer) and computing devices (0.5% fewer) than urban households. With the pandemic highlighting this issue to a broader audience, lawmakers are working on closing this gap, increasing economic opportunities for rural households.

Continue reading →

May 9 labor market webinar focuses on broadband in Idaho

NEWS RELEASE

For Immediate Release: May 2, 2023
Media Contact: Craig.Shaul@labor.idaho.gov

Broadband’s impact on Idaho’s labor market – including how many Idahoans work in the industry, how much they are paid, the number of Idaho companies that install broadband, and the impact of broadband jobs on Idaho’s economy – will be the focus of a May 9 webinar hosted by the Idaho Department of Labor.

Continue reading →

Around Idaho: Economic Activity, April 2023

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

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

Region

  • Labor demand in northern Idaho remains robust, with elevated levels of unfilled jobs. There were 2,674 job postings in northern Idaho in April 2023, according to data from the Conference Board — 2,342 in Kootenai County. The most in-demand occupation was registered nurses, followed by a variety of high-turnover and common service sector positions.

Table: North Idaho top 10 job postings, April 2023

Kootenai County

  • Post Falls-based Prairie Falls Golf Club began construction on a new 43,000-square-foot facility that will be the new home of the club’s pro shop, a hotel, event center, retail and restaurant facilities. The new facility is scheduled to open in July, and the golf club will be hiring 40 additional employees. Source: Journal of Business
  • Beacon Cancer Care is expanding its services with the addition of a new rheumatology practice in its Coeur d’Alene Chinook Medical Campus. Source: Journal of Business
  • A new urban development is being built in Post Falls. The 32-acre Millworx development will feature 685 residential units in addition to over 100,000 square feet of commercial space. The project has expanded significantly after it was originally envisioned as a 120-unit development in 2022. The development will also include a Hyatt Place Hotel and a variety of retail and restaurant establishments. Source: Journal of Business

Construction of a new 18-story high rise condominium in downtown Coeur d’Alene is underway. Named the Thomas George Building, the building will be home to 60 luxury condominiums and offer views of Lake Coeur d’Alene. Source: Journal of Business

  • The Idaho Transportation Department has begun its first full season of construction on the planned four-year revision of the critical interchange between Interstate 90 and State Route 41. After preparatory work began in August of last year, the crews in the 2023 season will focus on building three new bridges for westbound I-90. The project is scheduled to be completed by summer Source: Journal of Business

Openings:

  • Beau Monde Luxe, Hayden
  • Fire Artisan Pizza, Coeur d’Alene
  • Konala Hawaiian Restaurant, Post Falls
  • North Idaho Medical Massage, Coeur d’Alene
  • Parallel 47 Restaurant, Coeur d’Alene
  • Pinnacle Estate Planning, Coeur d’Alene
  • Post Falls Pavilion Food Trucks, Post Falls
  • Quality Stoves and Spa, Post Falls
  • ReMAX Realty, Coeur d’Alene
  • Rude Law, Coeur d’Alene

Sam.Wolkenhauer@labor.idaho.gov, regional economist
Idaho Department of Labor
(208) 457-8789 ext. 4451

Continue reading →

Idaho’s March unemployment rate remains at 2.6%

NEWS RELEASE

For Immediate Release: April 21, 2023
Media Contact: Craig.Shaul@labor.idaho.gov or John.Panter@labor.idaho.gov

Idaho’s seasonally adjusted unemployment rate was 2.6% in March, unchanged from February’s rate.

March’s labor force – workers who are employed or unemployed but looking for work – increased by 1,905 people (0.2%) to 960,017.

Idaho’s labor force participation was unchanged between February and March, remaining at 62.6%.

Total employment increased by 2,364 (0.3%) to 935,335 as unemployment decreased by 459 (-1.8%) to 24,682.

Continue reading →

Idaho’s February unemployment rate down to 2.6%

NEWS RELEASE

For Immediate Release: March 24, 2023
Media Contact: Craig.Shaul@labor.idaho.gov or John.Panter@labor.idaho.gov

Idaho’s seasonally adjusted unemployment rate was 2.6% in February, edging down from January’s revised rate of 2.7%.

January’s labor force – workers who are employed or unemployed but looking for work – increased by 1,681 people (0.2%) to 958,117.

Idaho’s labor force participation was unchanged between January and February, remaining at 62.6%.

Total employment increased by 2,237 (0.2%) to 932,972 as unemployment decreased by 556 (-2.2%) to 25,145.

Idaho’s nonfarm jobs increased by 1,100 to 845,100 in February. Industry sectors with the greatest over-the-month gains include state government (4.7%), wholesale trade (2.2%), federal government (1.5%), information (1.1%), other services (1.1%), private education services (0.6%), and health care and social services (0.5%). Continue reading →

Idaho’s January unemployment rate down to 2.7%

NEWS RELEASE

For Immediate Release: March 13, 2023
Media Contact: Craig.Shaul@labor.idaho.gov or John.Panter@labor.idaho.gov

Idaho’s seasonally adjusted unemployment rate was 2.7% in January, edging down from the revised 2.8% rate in December.

December 2022’s unemployment rate was revised down from 2.9% due to the Bureau of Labor Statistics’ annual benchmarking process. This realignment of labor market variables is not an indicator of any changes in the state’s economy. (More information about the benchmarking process can be found below.)

January’s labor force – workers who are employed or unemployed but looking for work – increased by 1,593 people (0.2%) to 956,389.

Continue reading →

Idaho’s short-term employment growth is expected to continue through 2024

New short-term employment projections from the Idaho Department of Labor show Idaho’s healthy rate of job creation is expected to continue over the next two years. Total employment in Idaho — including self-employed and family businesses — reached a new high of 854,474 in the base period in 2022. This is projected to grow by 1.4% annually, reaching 878,100 in 2024.

The robustness and consistency of Idaho’s labor market has been a shining light in past years, with the state consistently leading the country in job growth. In 2020, COVID-19 led to significant job losses in a very short period of time — with almost all job losses occurring in March and April, but Idaho demonstrated its economic vitality with a quick rebound, returning to rapid job growth the following year. In fact, job growth in Idaho has been so strong that, even with the setback in 2020 during the pandemic, total employment in 2022 still reached and even exceeded forecasts.

Figure 1: Total employment in Idaho 2016-2022, with Idaho Labor 2024 projection

line chart - job growth projectionSource: Idaho Department of Labor

Continue reading →

Snow great for Idaho recreation, economy; housing and staffing challenges remain

Winter weather is well underway in Idaho, bringing long-anticipated seasonal recreation to residents as well as many people across the U.S. who come to Idaho to experience the state’s top-tier ski resorts.

But despite high traffic and the boon to the surrounding economy, Idaho’s biggest winter recreation destinations face housing challenges for workers, especially those in the service sector.

Idaho ski resorts visits and staffing

Schweitzer Mountain above Lake Pend Oreille, Idaho

Nearly half (47.5%) of Idaho ski area visitors came from out of state in the winter of 2020-21 according to a report commissioned by Ski Idaho [2]. The report highlighted Idaho ski resorts as a regional point of pride that attracts visitors from all over the United States, giving this industry an increased customer base.

For the first time, three of Idaho’s ski resorts were listed in SKI Magazine’s 2023 top 30 ski resorts in the West — Sun Valley at No. 1 (third year in a row), Schweitzer at No. 11 and Grand Targhee at No. 24 [1]. Although officially located in Wyoming, many visitors to Grand Targhee stay, dine and shop on the Idaho side of Teton Valley.

Continue reading →

Committee presentation explores Idaho’s expected labor market growth, need for more workers

decorativeIdaho’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.

Find the full presentation on Labor’s website.

Idaho’s November unemployment rate up slightly to 3%

NEWS RELEASE

For Immediate Release: Dec. 16, 2022
Media Contact: Craig.Shaul@labor.idaho.gov or John.Panter@labor.idaho.gov

Idaho’s seasonally adjusted unemployment rate was 3% in November, edging up from October’s 2.9%.

November’s labor force – which is composed of both employed and unemployed workers — increased by 1,930 people (0.2%) to 963,380. Total employment increased by 1,474 (0.2%) to 934,756. The total number of people unemployed and looking for work increased by 456 (1.6%) to 28,624.

Labor force participation decreased by 0.1 percentage points to 62.5% as the civilian population increased at a faster rate than the labor force.

Idaho’s nonfarm jobs increased by 500 to 827,400 in November. Industry sectors with the greatest over-the-month gains include arts, entertainment and recreation (4.8%); private educational services (1.4%); construction (1.3%); state government (0.9%); and health care and social services (0.7%).

Continue reading →