Sunday, June 16, 2024

Idaho unemployment rate stays steady

Staff Report | May 18, 2024 1:00 AM

Idaho’s seasonally adjusted unemployment rate was 3.3% in April, unchanged since September 2023, according to the Idaho Department of Labor.

Of Idaho’s six metropolitan statistical areas, Coeur d’Alene saw the largest year-over-year nonfarm gains in April, 3.4% in total. All areas saw increases, with Coeur d’Alene followed by Boise (2.3%), Idaho Falls (2%), Lewiston (2%), Pocatello (1.8%) and Twin Falls (0.4%).

Kootenai County’s seasonally adjusted unemployment rate has hovered between 3.7% and 4.1% since January. In April, the county’s unemployment rate was 3.9%. This equates to a little more than 3,500 unemployed people out of the county’s 90,000-strong civilian labor force.

The state’s labor force increased by 2,595 people (0.3%) in April, reaching 974,053, while the labor force participation rate increased to 62.7% from March’s 62.6%.

Industries that experienced job gains in April included wholesale trade (2%); private educational services (1.2%); transportation, warehousing and utilities (1.2%); state government (0.6%); professional and business services (0.4%) and local government (0.2%).

Idaho’s 3.3% unemployment rate for April 2024 was up from 2.9% the prior year. The labor force was up 1.7%, an increase of 16,671 people.

The number of unemployed Idahoans increased 17% (4,684) over the prior year, while the total number of employed increased 1.3% (11,987).

Total nonfarm jobs have increased by 2.3% (19,300) in the past year. Most major industry sectors gained jobs except other services (-3.6%), information (-2.1%), finance and insurance (-1.7%), and accommodation and food services (-0.8%).