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IDAHO FALLS, Idaho (KIFI) – Idaho’s seasonally adjusted unemployment rate was 2.5% in June, unchanged from May and remaining at a historic low.
The number of Idahoans employed or looking for work grew by 5,190 people (0.6%) to 948,576. Labor force participation increased by 0.1 percentage points between May and June to 62.5%. Idaho’s peak participation rate reached 71.4% in September 1998.
June’s labor force growth was caused by increases in both employed and unemployed persons. Total employment grew by 4,807 (0.5%) to 924,605 while total unemployment increased by 383 (1.6%) to 23,971.
According to Help Wanted Online, there were 71,969 online job postings in Idaho during June, equating to 3 job openings for every unemployed Idahoan looking for work.
Idaho’s nonfarm jobs exceeded seasonal expectations in June, showing an adjusted increase of 4,200 jobs to 818,500. Industry sectors with the greatest over-the-month gains include state government (5.6%); transportation, warehousing and utilities (1.8%); construction (1.6%); nondurable goods manufacturing (1.6%); financial activities (1.5%); and leisure and hospitality (0.7%).
Industries with the greatest job declines in June were natural resources (-6.5%), other services (-2.2%) and federal government (-1.5%).
Three of Idaho’s six Metropolitan Statistical Areas (MSAs) saw over-the-month nonfarm job growth in June. Lewiston experienced the greatest increase at 0.7%, followed by Pocatello (0.5%) and Boise (0.4%). Idaho Falls experienced the largest nonfarm job decrease of 0.4% followed by Coeur d’Alene (-0.3%) and Twin Falls (-0.2%).
Year over Year
Idaho’s unemployment rate was down 1.2 percentage points from June 2021. The labor force was up 3.4%, an increase of 31,047 people.
The number of unemployed Idahoans dropped 29.5% (-10,044) from June 2021, while the number of employed rose 4.7% (41,091).
Idaho’s total nonfarm jobs increased by 3% (23,900) over June 2021. Every major industry sector showed over-the-year job increases except for federal government (-3.7%) and private educational services (-1.4%).
All six of Idaho’s MSAs saw year-over-year nonfarm job gains. Twin Falls saw the greatest increase at 4.1%, followed by Pocatello (3.7%), Idaho Falls (2.8%), Boise (2.8%), Coeur d’Alene (2.4%) and Lewiston (1.4%).
National Comparisons
Nationally, unemployment was mostly unchanged with the unemployment rate remaining at 3.6% in June and the number of unemployed up 12,708 to 5.9 million. The national unemployment rate was 0.1 percentage points above its pre-pandemic rate of 3.5% in February 2020. Total nonfarm payroll employment rose by 372,000 (0.2%) to 152 million and was 0.3% below pre-pandemic levels.
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