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May unemployment rate declines to 3.2 percent |
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June 21, 2017 |
Idaho’s seasonally adjusted unemployment rate
fell for the third consecutive month in May to
3.2 percent, underscoring the increased pressure
among Idaho employers competing for workers.
According to department analysts, May’s
unemployment drop is the result of 2,200
Idahoans exiting the workforce or ending their
work search. Total employment dropped by 1,250
while the total number of unemployed fell by
950.
Month-over-month, May estimates show Idaho’s
total nonfarm payroll jobs decreased by
two-tenths of a percent in May, down 1,200 to
708,800. Six of the state’s 11 industry sectors
showed job declines including construction, as
well as trade, transportation and utilities.
Only three sectors showed job gains —
professional and business services increased by
1,200 jobs, and education and health services
and other services both grew by 200. Natural
resources and government jobs were unchanged
from April.
The state’s labor force participation rate — the
percentage of people 16 years and older with
jobs or looking for work — dropped to 63.4
percent, the lowest participation rate since
July 1976.
Year-over-year, Idaho’s labor force still showed
growth, up 8,600 over May 2016.
Nonfarm payroll jobs were up 2.4 percent with a
net gain of 16,800 jobs. Education and health
services showed the largest annual job growth,
up 4.8 percent. Strong job gains also occurred
in construction, government services, leisure
and hospitality, and manufacturing. Retail jobs
were down slightly.
Idaho’s nonfarm jobs have shown continued growth
for 89 months since the trough of the past
recession in January 2010.
Nearly 5,200 of May’s 25,100 online job postings
are classified by department analysts as
hard-to-fill. Health care-related jobs —
physicians, surgeons, psychiatrists,
occupational and physical therapists and support
positions — accounted for 29 percent of all
hard-to-fill jobs. By volume, registered nurses
and truck drivers made up the largest number of
job listings.
Nationally, unemployment fell to 4.3 percent —
down slightly from April — as the country’s
labor force declined by 0.3 percent and the
participation rate fell two-tenths of a percent
to 62.7 percent.
Annually, May’s unemployment insurance benefit
payments in Idaho decreased 1.6 percent — from
$1.46 million to $1.44 million from May 2016.
The number of people filing claims declined by
4.4 percent to 4,724 from a weekly average of
4,941 a year ago.
The Boise Metropolitan Statistical Area (MSA)
showed the strongest seasonally adjusted
over-the-year percentage employment growth of
all MSAs at 3.7 percent in May, or 11,300 jobs,
followed closely by the Lewiston metro area with
a 3.6 percent increase, or 1,000 jobs.
Month over month, Coeur d’Alene (up 1 percent)
and Idaho Falls (up 0.2 percent) experienced the
largest job increases. Together, the remaining
MSAs experienced a decrease of 1,000 jobs: Boise
(down 0.1 percent), Lewiston (down 1.4 percent)
and Pocatello (down 0.5 percent).
Twenty of Idaho’s 44 counties had unemployment
rates at or above the state rate in May. Of
these, only two counties experienced rates above
6 percent: Clearwater at 7.5 percent and
Shoshone at 6.6 percent. Madison County
continued to experience the lowest unemployment
rate at 1.9 percent.
Details on Idaho’s unemployment picture can be
found at
lmi.Idaho.gov. |
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