Tag Archives: long-term projections

Idaho’s Long-term Employment Forecast Shows Steady Growth Through 2030

Idaho’s labor market is expected to continue its robust expansion through the end of the decade, according to new long-term employment projections from the Idaho Department of Labor.

The new estimates, which cover the period from 2020 to 2030, project an employment growth rate for Idaho of 1.5% per year, bringing total employment to 933,563 in 2030. This forecast is consistent with Idaho’s record of strong job creation in recent years – which includes rapid growth from 2010 to 2020, and an economic recovery from the COVID-19 pandemic that was among the strongest in the nation.

Idaho’s long-term projected growth rate of 1.5% is significantly higher than the national forecast. The most recent projections from the U.S. Bureau of Labor Statistics anticipate a national growth rate of approximately 0.7% annually – less than half the projected growth rate for Idaho. This is consistent with recent experience; Idaho has consistently been among the leaders in job growth among the states, and the growth rate in Idaho has exceeded the national rate nine years in a row, starting in 2012.

Figure 1: Annual Employment Growth, US and Idaho line chart

Sources: U.S. Bureau of Labor Statistics, Idaho Department of Labor Continue reading

Job Growth Anticipated in Long-Term Employment Projections

By the year 2024, the national economy is projected to add 9.8 million jobs, health care and social assistance will have the most jobs and labor force participation will drop as the last of the baby boomers retire.

These projections are part of the long-term employment and occupation projections for the nation released by the U.S. Bureau of Labor Statistics every two years. Projections attempt to answer the question, “What will the economy look like a decade from now, if it were to be running at full capacity?” This information is provided for long-term planning for decision makers and for those planning their career options. Continue reading