Tag Archives: income

Idaho is 6th youngest state in the nation, Census data shows

NEWS RELEASE

For Immediate Release: March 22, 2022
Media Contact: Jan.Roeser@labor.idaho.gov or Craig.Shaul@labor.idaho.gov

Idaho remains one of the youngest states in the nation according to recently released results from the U.S. Census Bureau’s 2016-2020 American Community Survey.

The release includes new tables on the civilian-employed population (age 16 and older), along with data on computer and internet use.

Some of the statistically significant changes for Idaho include:

 

Age

Idaho remained the sixth youngest state in the nation with a median age of 36.6 years. Utah retained its rank as the youngest with a median age of 31.1 years. Except for North Dakota, all 50 states and the District of Columbia experienced an increase in the median age. The nation’s median age was 38.2 years and is up slightly from its 37.6 years median age in 2015.

Census Table - Median Age

The states with the oldest or highest median age were concentrated on the eastern side of the U.S. starting with Maine (44.8 years), New Hampshire (43 years), Vermont (42.8 years), West Virginia (42.7 years), Florida (42.2 years), Connecticut (41.1 years), Delaware (41 years) and Pennsylvania (40.9 years).

Continue reading

Idaho’s Income More Equally Distributed than Most States

Income inequality has become an increasingly important issue for many Americans. It is no secret that both wealth and income in the United States are much more lopsided toward the highest earners than in other major developed economies. While methods of measuring income inequality vary, it is clear that the highest earners in the United States hold a disproportionate amount of the nation’s wealth and income.

The implications of income inequality – and potential political responses to it – represent their own enormous issue that are beyond the scope this article, but the underlying statistics and trends about income inequality can still offer insight into why and how it occurs. Important economic context for Idaho can also be gained by comparing Idaho’s inequality to other states.

Continue reading

Unearned Income, Government, Semiconductors Drive Idaho Employment

Idaho’s major economic drivers include government, construction, computer chip manufacturing, the food products cluster and unearned income from Idaho households.

In 2012, 146,000 jobs or 23.5 percent of all Idaho jobs were generated by unearned income – money the state’s households received from outside sources in pensions, Social Security, returns on investments, food stamps, welfare payments, unemployment benefits and other so-called transfer payments.

Government was the next strongest economic force, supporting nearly 16 percent of all employment both regionally and statewide.

Only a small fraction of those jobs were attributable to people commuting to work outside of Idaho.

These findings are based on an analysis using economic base theory, which determines whether economic activity generates revenue from outside the local economy or merely recirculates existing revenue.

Continue reading