Labor force expands by 4% over the year
Idaho’s seasonally adjusted unemployment rate was 2.7% in August, up 0.1 percentage points from July – the seventh consecutive month Idaho has been below 3%.
August’s labor force growth saw increases in both employed and unemployed persons. The number of Idahoans employed or looking for work grew by 4,384 people (0.5%) to 956,785. Total employment grew by 3,103 (0.3%) to 931,077 while total unemployment increased by 1,281 (5.2%) to 25,708.
Labor force participation increased by 0.1 percentage points between July and August to 62.7%. Idaho’s peak participation rate reached 71.4% in September 1998.
Idaho’s nonfarm jobs met seasonal expectations in August, showing an adjusted increase of only 200 jobs to 822,600. Industry sectors with the greatest over-the-month gains include transportation, warehousing and utilities (0.9%); arts, entertainment and recreation (0.6%); and construction (0.5%). Continue reading