Tag Archives: idaho employment

Around Idaho: Economic Activity in October 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

Benewah County

  • The Coeur d’Alene tribe has approved plans for a $16 million youth and family recreation center to be built on tribal land near Worley. The facility is intended to support the tribe’s mission of protecting the health and safety of their youth. Source: Spokesman Review

Kootenai County

  • Keller-Williams Coeur d’Alene is building a new $3.3 million building. With Kootenai County’s housing market enjoying phenomenal expansion in recent years, Keller Williams noted that its pool of agents has grown by 22 percent so far in 2018 alone. The agency now has 255 agents in Coeur d’Alene and has outgrown its existing office space. Source: Spokane Journal of Business

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Idaho’s Projected Robust Job Growth May Challenge Labor Supply

Idaho’s economy has been one of the most dynamic among all the states in recent years. Over the past five years, Idaho has consistently been at the top of the charts in terms of job creation, and only Utah has created jobs as quickly. Recently, the Idaho Department of Labor completed a new round of labor market projections which anticipate that Idaho’s strong rate of job creation will continue into the foreseeable future.

This new analysis forecasts that Idaho’s total employment will reach 840,000 by 2026, up from a 2016 total of about 735,000. This amounts to approximately 105,000 new jobs created in 10 years, which represents a 14.4 percent increase. This indicates that Idaho is expected to substantially outpace the rest of the nation in job creation. Equivalent projections from the federal Bureau of Labor Statistics (BLS) projected total U.S. employment to grow by only 7.7 period in the same time period (1). Continue reading

Around Idaho: Economic Activity in September 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

Boundary County

  • Seven Seeds Coffee Roasters opened in Bonners Ferry. The company specifically sources its coffee beans from impoverished regions of southeastern Asia, where the coffee can become a cash crop for impoverished farmers. Source: Bonners Ferry Herald

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Idaho’s August Unemployment Rate Declined to 2.8 Percent

NEWS RELEASE

For Immediate Release: Sept. 21, 2018
Information Contact:  Robert Kabel (208) 332-3570 ext. 3886 or Karen Jarboe Singletary (208) 332-3570 ext. 3215

Over-the-Year Job Growth Remains Strong

Idaho’s seasonally adjusted unemployment rate declined slightly to 2.8 percent in August, continuing at or below 3 percent for the 12th consecutive month.

The state’s labor force – the total number of people 16 years of age and older working or looking for work – was virtually unchanged at 852,878 people, breaking a streak of month-to-month increases.

Total employment increased by 676 to 828,864, continuing to grow though at a slower rate than earlier in the year. The number of unemployed decreased by 588 people to 24,603.

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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 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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