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Idaho’s December unemployment rate steady at 2.9
percent |
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January 20, 2018 |
Idaho’s seasonally adjusted unemployment rate
held at 2.9 percent in December for the third
consecutive month after reaching its record low
of 2.8 percent in September.
The state’s labor force - the aggregate of
people 16 years of age and older working or
looking for work - continued to grow from
November to December by 6,464, or 0.8 percent,
to 842,429. This was accompanied by an increase
of 5,952 in employment, raising the total number
of employed workers to 817,734.
The number of unemployed persons rose by 512
(2.1 percent) to 24,695, but this increase was
insufficient to move the needle higher for
Idaho’s low unemployment rate.
Over the year from December 2016, the statewide
labor force was up 20,989 (2.6 percent), as
total employment was up by 26,241 (3.3 percent)
and there were 5,252 (17.5 percent) fewer
unemployed persons.
Idaho’s labor force participation rate increased
four-tenths of a percentage point from November
to 64.4 percent — the highest participation rate
since the second quarter of 2012 when workers
were moving back into the labor force after the
Great Recession.
Idaho’s nonfarm payroll employment had a net
gain of 600 jobs in December. Growth of 1,500
jobs across seven industry sectors - including
professional and business services;
manufacturing; financial activities and natural
resources – beat seasonal expectations. Three
industry sectors – trade, transportation and
utilities; other services; and leisure and
hospitality – together declined by 900 jobs.
Over the year, Idaho total nonfarm jobs
increased 2.1 percent – 14,700 higher than
December of 2016. Education and health services
added 4,900 jobs, or 4.8 percent, compared with
December 2016 – the most of any sector - while
professional and business services was down
1,400 jobs, or 1.6 percent, during the same
period.
Nonfarm payrolls declined in four of the five
Metropolitan Statistical Areas (MSAs) with Coeur
d’Alene down by 500; Boise down by 400; Lewiston
down by 300 and Idaho Falls down by 100.
Pocatello remained unchanged.
Over the year, Idaho’s five MSAs all experienced
gains in nonfarm payroll employment. Boise added
7,200 jobs; Idaho Falls added 1,000 jobs; Coeur
d’Alene added 900 jobs; Pocatello added 500
jobs; and Lewiston added 100.
According to the Conference Board, a Washington,
D.C. think tank, in December there were 18,403
online job openings in Idaho compared with
20,387 in December 2016. Of these online
postings, 5,261 were classified as hard-to-fill,
almost no change from a year ago. Hard-to-fill
positions are those continuously posted for 90
days or more. Nearly 24 percent of those
hard-to-fill jobs were in health care and
included physicians, surgeons, psychiatrists,
occupational and physical therapists and support
positions.
Annually, average weekly unemployment insurance
benefit payments were down 9.6 percent - from
$2.5 million a year ago to $2.3 million in
December 2017. The number of claimants dropped
9.8 percent from a weekly average of 8,200 a
year ago to 7,400.
Twenty-five of Idaho’s 44 county unemployment
rates were above the state rate in December.
Four counties experienced rates at or above 5
percent: Clearwater at 6.2 percent; Shoshone at
5.7 percent; Lewis at 5.1 percent; Lemhi at 5
percent. Bannock County was at 2.9 percent while
Madison County’s unemployment rate remained the
lowest at 1.7 percent.
Nationally, the December unemployment rate was
unchanged at 4.1 percent, nonfarm payroll
employment increased by 148,000 and the labor
force participation rate was unchanged at 62.7
percent.
Updated information on Idaho’s labor market will
be posted at
lmi.Idaho.gov. |
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