What the Department of Labor says about growth and economy in Idaho
BOISE, Idaho (KIFI) — The Idaho Department of Labor held a seminar in Boise Tuesday to discuss rural and urban economies in the Gem State.
"From demographics and population to the land itself, our rural economy is made up of public and private industry, farms, ranches, forests, national monuments, community gateways to national parks and so much more," Labor Economist Ryan Whitesides said.
Whitesides led the seminar presentation. He emphasized the challenges rural communities face, the pros and cons of living rural, and outlined Department of Labor growth and economy statistics.
Growth & economy
"Idaho was the fourth fastest growing state from 2022 to 2023," Whitesides said. "It'll be interesting to see how the future data kind of bears out and how it changes or stays the same."
From now through 2031, The department projects nearly 80% of the State's growth will be within four urban counties including Ada, Bonneville, Kootenai and Canyon.
"Some people may migrate to Idaho," he said. "They expect to maintain or improve their financial situation in life and many do."
A 2023 study by Seniorly ranked Idaho as the fourth most affordable place to retire on a budget. That's why the Gem State is becoming a popular retirement spot and desired place for families to settle. Even Whitesides returned with his family after leaving the state previously.
"Whether you're living in rural, urban or somewhere else in between, I think it's a really great place to live and that's why we've come back three different occasions," he said.
