Tag Archives: idaho employment

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 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

Around Idaho: Economic Activity in May 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

Bonner County

  • In response to substantial flooding in Lake Pend Oreille and the Pend Oreille River, strict no-wake zones are being enforced to mitigate property damage. The new rules impose a no-wake zone up to 500 feet from the shore. Source: Bonner County Daily Bee

Kootenai County

  • Idaho Central Credit Union is constructing a new office in Coeur d’Alene. The $8.6 million building will house a full service credit union branch and business and mortgage lenders along with administrative staff. The new Coeur d’Alene office will be ICCU’s fourth Kootenai County branch. Source: Spokane Journal of Business
  • Hayden-based Blackstone Properties is constructing a new 65,000-square-foot storage facility in Hayden. The complex will offer ministorage, along with boat and RV storage. Source: Spokane Journal of Business
  • Silverwood Theme Park had its full-time opening May 28 followed by Boulder Beach, which opened June 9. The theme park is hiring roughly 1,500 people for its summertime operations and noted that preseason ticket sales have surpassed projections. Park management believes this portends potentially record attendance. Source: Spokane Journal of Business

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

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In Search of Idaho’s Gig Economy

As with the rest of the nation, accurately estimating the size of the gig economy in Idaho remains a challenge. While measures such as part-time employment and self-employment show unimpressive growth trends, other indicators like the growth of staffing agencies and nonemployer establishments tell a different and perhaps more believable story – the gig economy in Idaho is alive and growing.

What is a gig?

The word “gig” spontaneously invokes images of bar bands, freelance writers, Uber drivers and TaskRabbit workers. A common thread with these workers is that work is on-demand and oftentimes uncertain. The formal definition of a gig, according to the Bureau of Labor Statistics, is “a single project or task for which a worker is hired, often through a digital marketplace, to work on demand.”

Not only can gigs vary in frequency, duration and skill level, the gig worker can have many faces as well. One gig worker could be self-employed with one or multiple gigs forming the bulk of his/her income; another could be a part-time worker using gigs to supplement traditional employment. These variances are part of the difficulties faced in estimating the size of the gig economy and workforce.

Proxy datasets used to represent the gig economy capitalize on some of the typical elements of gig work namely that gig workers are often part-time, contingent workers and are self-employed. These datasets are imperfect indicators that offer only a glimpse of this gig economy. The following are some of these indicators.

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Retail Evolving; Web-Based is Small But Growing Portion

The retail industry has been on a roller coaster ride over the past 25 years with a slightly negative trend line as shown in Figure 1. The housing bubble created tremendous demand for household furnishings and goods, which then plummeted with the Great Recession that caused shuttering of a handful of furniture stores and car lots in Twin Falls. Small retail businesses throughout south central Idaho suffered from the economic downturn ending in fewer local retail outlets available in rural areas.

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Around Idaho: Economic Activity in November 2017

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

Region

  • Several area ski resorts have begun their winter seasons. Lookout Pass opened the first weekend of November, while Silver Mountain and Schweitzer opened Thanksgiving weekend. Source: Spokane Journal of Business

Kootenai County

  • Water Solutions Inc. is building an office building with an attached manufacturing space in Rathdrum. The company, which sells drinking water purification units, began as a sole proprietorship in 2001 in Rathdrum and anticipates a workforce expansion commensurate with their growing business and new facilities. Source: Spokane Journal of Business
  • The city of Hayden issued building permits for a $13.7 million, 96-unit apartment complex. The complex is the first phase in a larger development plan by Coeur d’Alene-based Hayden Village LLC, which will eventually develop 64.4 acres in Hayden. Source: Spokane Journal of Business

Openings

  • Les Schwab, St. Maries
  • Gateway Cafe, Plummer
  • Inspire Physical Therapy, Coeur d’Alene

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

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Around Idaho: October 2017 Economic Activity

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

  • The Parks and Recreation Committee in Coeur d’Alene voted to ban offshore businesses in the city’s water corridor on Lake Coeur d’Alene. The decision will affect enterprises like the Hooligan Island jungle gym barge and boats that sell food. The committee sited the danger of motorized boat traffic near the beach, in water that is generally full of kayakers, paddle-boarders and swimmers in the summer. Source: Coeur D’Alene Press
  • Developers Philip Wirth and Rick Robinson have announced plans to create a 233-acre technology park on Highway 41 in Post Falls. The complex is being designed with technology and aerospace manufactures in mind, and the developers have specifically cited proximity to North Idaho College’s technical schools in Rathdrum as a draw to the location. Source: Coeur D’Alene Press

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Job Creation and New Business Startups in Idaho

Idaho’s new business establishments have added more than 10,000 private sector jobs per year over the past two decades, accounting for between 20 to 30 percent of private sector gross job gains and nearly all net private sector job growth. Since the end of the last recession, the share of private sector new businesses in Idaho’s economy has risen faster than surrounding states and the nation as a whole, growing from 7 percent of all establishments in 2010 to more than 11 percent in 2016. Job creation by these private startup businesses, however, remains in decline.

Idaho startup rates and failure rates are higher than national averages

In Idaho, as with the rest of the nation, the rise in the number of businesses entering the economy was significantly stymied by the most recent recession that started in December 2007. At the end of the first quarter of 2010, the number of establishment entries in Idaho had sunk to less than 3,000 from its prerecession peak of 5,073. Since then, the downward trend reversed and establishment entries have returned to pre-recession levels.

Source: Bureau of Labor Statistic – Business Employment Dynamics. Startups are establishments less than a year old and do not include non-employer establishments

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Around Idaho: July 2017 Economic Activity

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

Region

  • Northern Idaho witnessed at least 21 reported wildfires in July. While the actions of the forest service and other authorities prevented any of the fires from forcing evacuations or threatening structures, the number of fires was above average for July. Source: Coeur d’Alene Press

Kootenai County:

  • Construction work began on a new commercial complex in Athol, which will eventually include the town’s first grocery store as well as a hardware store, a hotel and additional light industrial and commercial space. Source: Coeur d’Alene Press
  • The Idaho Transportation Department and North Idaho College are partnering to offer a free three-week heavy equipment operator course, which aims both to fill labor needs in the construction industry and offer career opportunities to veterans, women and minorities. Source: Coeur d’Alene Press

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2017 Total Solar Eclipse: Infrastructure Challenge or Economic Windfall?

-Idaho Communities Prepare for Both Scenarios-

Nineteen Idaho counties – from Washington County in western Idaho to Teton County in eastern Idaho – are within the “path of totality” and are expected to see a large influx of visitors during this year’s total eclipse on Aug. 21, 2017.

Preparing for the total solar eclipse is taking center stage locally, regionally and nationally. Experts from Great American Eclipse.com anticipate anywhere from 93,000 to 370,000 visitors across the path of totality in Idaho, including Sun Valley, Stanley and Washington County. But the majority of visitors are expected in eastern Idaho, with NASA estimating upwards of 500,000 in eastern Idaho alone. Anyone trying to book a rental property in the region for that weekend using Airbnb will see a message that “2167 percent more people are looking for rental properties in Idaho Falls now (Aug 18-22) than on average.”

Image: Google

Eastern Idaho can provide roughly 8,000 units of rental sleeping spaces including hotels, motels, rental homes, lodges, campsites and RV parks. If each space is shared by an average of three people, the accommodation capacity is around 24,000 people – less than one half to one sixth of the visitor count expected to spend the night prior to eclipse day. Putting this into perspective, if 90 percent of the visitors are around only long enough to see the eclipse, using the region’s resources and infrastructure the economic benefits for the hotels, restaurants and retail outlets may be less than if they were to spend the night.

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