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Kootenai County job growth stays steady even with low jobless rate

| October 20, 2018 1:00 AM

By BRIAN WALKER

Staff Writer

POST FALLS — Kootenai County added about 650 jobs from August to September, another sign of a robust local economy, an Idaho Department of Labor economist said.

"Our employment numbers are up 3 percent over last September," Sam Wolkenhauer said. "Virtually all of the numbers that we follow are looking very positive for our area."

The county's unemployment rate dropped a tenth of a percent from August to September to 3 percent, according a Labor report released on Friday. A year ago at this time the number was at 3.7 percent.

"Job growth is holding steady even with a very low unemployment rate," Wolkenhauer said. "We’ve had lots of building activity and permitting numbers this year, and we continue to have above average population growth."

"All in all, the economic indicators look great. I’d characterize the local labor market as very healthy."

Too good to last?

"I do think there’s a possibility of a slowdown, but this would occur simply because the unemployment rate is so low," Wolkenhauer said. "Employers may have difficulty bringing on seasonal help or accommodating expansions.

"But we emphasize that a slowdown due to low unemployment, while unpleasant for employers trying to hire, is not a sign of economic weakness but rather the opposite. It’s a challenge created by many years of strong job growth."

The local jobless rate is sandwiched between the state's number (2.7 percent) and the nation's rate (3.7 percent.)

Idaho's rate has been at or below 3 percent for 13 straight months.

The state’s labor force — the total number of people 16 years of age and older working or looking for work — was 853,076 people, essentially unchanged, the report states.

Total employment increased by 885 to 829,793, while the number of unemployed people decreased by 729 to 23,283.

Idaho’s labor force participation declined one-tenth of a percentage point to 63.6 percent as Idaho’s total population outpaced labor force growth.

Over the year, the statewide labor force in September was up 13,286 (1.6 percent), total employment was up by 15,293 (1.9 percent) and there were 2,007 (7.9 percent) fewer unemployed persons.

The state continues to see strong job growth.

Total nonfarm jobs grew by 2.7 percent for a total of 19,200 jobs. The construction and manufacturing sectors grew more than 5 percent, gaining 5,900 jobs. All other sectors saw some over-the-year gain, except for natural resources and information, which remained unchanged.