The Idaho Department of Labor has recently published long-term projections forecasting what Idaho’s labor market will look like in the year 2024. The outlook is very optimistic. Idaho’s employment is projected to grow by 1.8 percent annually through 2024. This compares favorably to the national growth projections of only 0.6 percent annually over the same time period, according to the federal Bureau of Labor Statistics. This forecast would surely put Idaho in a familiar place among the fastest-growing states.
Optimism is warranted by more than just the overall growth rate. Within the projections program, Idaho Labor has forecast scenarios for dozens of different major sectors and industries in the economy, with accompanying forecasts for occupations. According to these projections, Idaho’s economy will see significant growth in two important areas: service sectors and STEM occupations – science, technology, engineering and mathematics. The graph below shows the projected growth rates across various sectors of the economy.