Idaho’s July unemployment rate increases to 2.8%
IDAHO FALLS, Idaho (KIFI) - Idaho’s seasonally adjusted unemployment rate experienced a slight increase in July, rising from June's rate of 2.7% to 2.8%.
July’s labor force – workers who are employed or unemployed but looking for work – increased by 1,058 people to 965,314.
Idaho’s labor force participation rate – the percentage of the non-institutionalized civilian population at least 16 years of age and older in the labor force – decreased to 62.4% in July from 62.5% in June.
Total employment decreased by 453 to 938,097 while unemployment increased by 1,511 to 27,217.
Idaho’s nonfarm jobs increased by 2,000 (0.2%) to 853,000 in July. Industry sectors with the greatest over-the-month gains include construction (1.6%), financial activities (1.5%), accommodation and food services (0.9%), health care and social services (0.8%), private educational services (0.6%) and state government (0.6%).
Industries with the largest job declines in July were natural resources (-2.4%), other services (-2%), wholesale trade (-1.4%) and nondurable goods manufacturing (-0.7%).
Three of Idaho’s six Metropolitan Statistical Areas (MSAs) experienced over-the-month nonfarm job increases in July. Idaho Falls saw the largest increase at 0.5%, followed by Pocatello (0.3%) and Boise (0.1%). Coeur d’Alene experienced a decrease of 0.1%, while Lewiston and Twin Falls had no measurable change.
Year over Year
Idaho’s July unemployment rate of 2.8% was one-tenth of a percentage point higher than one year ago. The labor force was up 1.3%, an increase of 12,007 people.
The number of unemployed Idahoans increased 5.7% (1,473) over the same time period, while the number of employed rose 1.1% (10,534).
Idaho’s total nonfarm jobs increased by 2.8% (23,600). Most major industry sectors showed over-the-year job gains except real estate and rental and leasing (-3.5%), manufacturing
(-2.6%), natural resources (-2.4%) and retail trade (-0.6%).
All but one of Idaho’s MSAs saw year-over-year nonfarm job gains. Idaho Falls saw the greatest increase at 4.3%, followed by Pocatello (3.9%), Boise (3.1%), Twin Falls (3.0%) and Coeur d’Alene (2.8%), while Lewiston was the only MSA to see a decrease (-0.7%).
National Comparisons
Nationally, the unemployment rate decreased from 3.6% in June to 3.5% in July. The number of unemployed decreased by 116,000 to 5.8 million. Total nonfarm payroll employment rose by 187,000 (0.1%) to 156.3 million.
