Idaho unemployment rate drops to 2.6%, among best in nation
IDAHO FALLS, Idaho (KIFI) - Idaho’s seasonally adjusted unemployment rate was 2.6% in November, down 0.2 percentage points from October.
The state’s labor force grew by 1,017 people (0.1%) to 908,676 – marking four consecutive months with over-the-month labor force increases exceeding 1,000.
Labor force participation decreased slightly from 62.4% to 62.3% in November - a new historic low. Idaho’s peak participation rate reached 71.4% in September 1998.
Total employment grew by 2,309 to 884,865, up 0.3%, while total unemployment dropped 1,292 (5.1%) to 23,811.
Idaho’s nonfarm payroll jobs exceeded seasonal expectations at 787,900 in November, up 0.1% (800 jobs) from October. Industries showing growth included arts, entertainment and recreation (6.3%); private educational services (1.5%); transportation, warehousing and utilities (1.4%); wholesale trade (1.2%); retail trade (0.3%) and health care and social services (0.2%).
Industries with fewer jobs than expected included federal government (-1.5%), other services (-0.8%), manufacturing (-0.6%), construction (-0.3%), professional and business services (-0.3%), financial activities (-0.2%), accommodation and food services (-0.1%) and local government (-0.1%).
Idaho Falls was the only Metropolitan Statistical Area (MSA) to experience over-the-month nonfarm job growth with an increase of 0.4%. Coeur d'Alene saw no measurable change. Three MSAs saw nonfarm job declines: Pocatello (-0.5%), Lewiston (-0.3%) and Boise (-0.1%).
Year over Year
Idaho's labor force was up 0.8% from November 2020, an increase of 7,061 people.
Total unemployment dropped 38.4% (14,813) from November 2020, with the number of working Idahoans up 2.5% (21,874).
The state's nonfarm job total increased by 2.1% (16,500) over November 2020 and was 1.9% above its February 2020 pre-pandemic peak.
Every major industry sector showed over-the-year job increases in November except for federal government (-3%); manufacturing (-2.7%); and professional and business services (-2%). Leisure and hospitality - the most adversely affected industry during the pandemic – was 7.5% above where it was one year ago.
All five of Idaho’s MSAs saw year-over-year nonfarm job gains. Pocatello showed the greatest increase at 5.3%, followed by Idaho Falls (3%), Lewiston (2.8%), Coeur d'Alene (2.7%) and Boise (2%).
National Comparisons
Nationally, unemployment dropped from 4.6% in October to 4.2% in November, with the number of unemployed down 620,884 to 6.8 million. The nation’s labor force increased by 594,000 to 162.1 million. Total nonfarm payroll employment rose by 210,000 to 148.6 million.
