Tag Archives: industries

Idaho Reaching Prerecession Jobs Levels; Industries Shifting

It has taken four years for the Idaho economy to approach the job levels it boasted before the worst recession in generations.

Total nonfarm jobs have been right around 100 percent of the monthly peak before the recession took hold in Idaho in 2008. Employers were also hiring at near their prerecession levels, but the activity has shifted among the industry sectors.

2014 nonfarm jobs - prerecession peak

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Southeastern Idaho Job Recovery – Gains, Losses Vary by County, Industry

jobs in SE idaho

Unemployment rates in Idaho and southeastern Idaho are far lower than four years ago. In June the unemployment rate in the seven-county region was 4.2 percent. In 2010 the annual unemployment rate stood at 7.4 percent.

Despite the substantial drop, the total number of jobs in the region has yet to recover to prerecession levels. According to estimates from Economic Modeling Systems International, there were 62,373 jobs in southeast Idaho in 2007. In 2013 there were 58,600, a decline of about 6 percent.

Some counties in the region saw increases. Bingham County gained 469 jobs, rising to 15,213 in 2013. Likewise Bear Lake County’s employment grew by 63 jobs from 1,634 jobs to 1,697. Caribou County grew by 99 jobs from 3,215 jobs in 2007 to 3,314. Oneida County posted a modest gain of 13 jobs to 1,118 and Power County also saw a limited increase of 45 jobs to 3,252.

Others did not. In Bannock County – the number of jobs fell by 4,214 from 35,161 jobs in 2007 to 30,947 jobs in 2013, a decline of 12 percent. Franklin County also experienced a 7.5 percent job loss of 248 jobs from 3,308 to 3,060.

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Some Idaho Industries More Apt to Hire Older Workers

The aging workforce will have an overarching effect on the economy in the years to come, but older workers are feeling the impact now. With the effects of the last recession still lingering, knowing which industries are more apt to hire older workers is critical to today’s job seekers.

table 1

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Comparing Idaho Jobs by Sector Pre- and Post-Recession

The Great Recession is still fresh in many minds. Unemployment and underemployment are still realities both nationwide and in Idaho.

And even though unemployment has been falling, the structure of Idaho’s economy and job market has changed since the expansion of the mid-2000s.

Like the rest of the nation, Idaho saw manufacturing jobs decline 12 percent from 2006 to 2013. Nationally the loss was 16 percent, and Idaho’s performance may be the result of the significance of agricultural processing in its manufacturing sector. There has been a boom in dairy processing in south central Idaho over the last few years, and food manufacturing continues to have an important presence in other regions as well. Continue reading

Forecasting Madison County’s Economy

Community leaders and economic development professionals are typically interested in the types of businesses that should be added to their local economies. Any answer comes against the backdrop of the existing business mix that is the result of a century or more of economic evolution and market forces.

But in some cases industry growth struggles to keep up with population growth.

Madison County was Idaho’s fourth fastest growing county between 2000 and 2012 when its population increased 36 percent – almost 10,000 residents. Much of the growth was spurred by the transition of two-year Rick’s College into four-year Brigham Young University-Idaho. But neighboring Jefferson and Teton counties were also in the top-five fastest growing counties in the state.

A long-range plan called Envision Madison is under way in Madison County to ensure the community remains economically viable while maintaining its quality of life as growth continues. City planners and government leaders – and entrepreneurs looking for the next business idea – are hunting for strategies to facilitate continued natural growth. Fortunately there are a few statistical tools that can aid the process. Continue reading

FAQ Friday – What is the difference between occupations and industries?

It’s not uncommon for people to confuse occupations and industries. Both are about fields of work, but they look at work in different ways.

  • Industries are about the type of activity at a place of work — classifying what business, government and nonprofit units do based on their major products or services.
  • Occupations are about what individual workers do — their tasks and responsibilities.

Some occupations are found only in one or two industries, while other occupations are found across many industries. For example, tree fallers and logging equipment operators are almost exclusively found in the logging industry. Stone masons and glaziers are almost exclusively found in some construction industries. Almost all industries have general managers, secretaries and office clerks.

It is particularly easy to confuse industry and occupation where specific occupations are strongly associated with a particular industry — such as doctors, nurses and orderlies being characteristic of the health care industry.

Classification Systems

Federal and state statistical agencies in the United States, Canada and Mexico use the North American Industrial Classification System – NAICS – to classify industries.

NAICS is a hierarchical numerical coding system that begins with broad economic sectors at the top and winnows them down to narrow industries at the bottom. In between there are either two or three intermediate levels. Each level is associated with a numerical code and a title.

Sectors, such as manufacturing, agriculture and construction, are designated by the first two digits in the code. Each establishment is assigned a six-digit code based on its primary products or services. There are 1,084 specific industries.

Industries that have the same first five digits in their code can be “rolled up” into industrial groups. For example, beef cattle ranching – 112111 – and cattle feedlots 112112 – can be rolled into a common cattle-raising group – 11211. In turn, these five-digit groups can be rolled into four-digit collections and the four-digit collections can be rolled into three-digit codes. The cattle-raising group can be combined with dairy cattle and milk product – 112120 – to get a four-digit code. Then, they can be rolled up with chicken and egg, hog, poultry and related. The resulting animal production major group can be combined with growers of grains, beans, fruit, vegetables, cotton, tobacco and peanuts to become a three-digit code – 113 (agriculture) – and then combined with logging, forestry, hunting, fishing and related industries to become 11 (agriculture, forestry, fishing & hunting).

There are 20 major groups:

Federal and state statistical agencies use the Standard Occupational Classification – SOC — to classify workers into 840 occupations. Those occupations then are rolled up into 23 major groups:

One of the best ways to understand occupations is to use O*NET, an online database containing information about occupations and associated skills, abilities, knowledge, work activities, tasks and interests. O*Net is used for career exploration, vocational counseling, finding job skills for résumés or position descriptions and for aligning training with current workplace needs.

— Kathryn.Tacke@labor.idaho.gov, regional economist
(208) 799-5000 ext. 3984