Idaho’s December unemployment rate remains
at 3.3%
Idaho’s seasonally adjusted unemployment rate was unchanged between November and December, remaining at 3.3%.
The state’s labor force increased by 1,616 people (0.2%) to 975,560.
Idaho’s labor force participation rate – the percentage of people 16 years of age or older who are either employed or looking for work – decreased from November’s 62.5% to 62.4% in December.
Total employment increased by 1,178 (0.1%) to 942,919 as unemployment increased by 438 (1.4%) to 32,641.
Idaho’s nonfarm jobs decreased by 400 to 862,400 in December. Industry sectors with the greatest over-the-month gains included federal government (1.4%); state government
(1.2%); information (1%); and transportation, warehousing, and utilities (0.6%).
Industries that experienced job declines in December included arts, entertainment, and recreation (-2.3%); private educational services (-1.6%); nondurable goods manufacturing (-0.7%); professional and business services (-0.6%); and wholesale trade (-0.5%).
Three of Idaho’s six Metropolitan Statistical Areas (MSAs) had over-the-month nonfarm job increases in December. Pocatello saw the largest increase with 0.5%, followed by Coeur d’Alene (0.4%) and Idaho Falls (0.1%). Boise saw a decrease of 0.2% while Lewiston and Twin Falls were unchanged.
Year over Year
Idaho’s 3.3% unemployment rate for December 2023 was up from 2.8% the prior year. The labor force was up 2.2%, an increase of 20,764 people.
The number of unemployed Idahoans increased 23.7% (6,264) while total employed was 1.6% (14,500) higher over the same period.
Total nonfarm jobs increased by 3% (25,000). Most major industry sectors gained jobs except nondurable goods manufacturing (-5.8%); arts, entertainment, and recreation (-4.4%); real estate, rental, and leasing (-2.6%); retail trade (-1.3%); and administrative, support, and waste management services (-0.2%).
All of Idaho’s MSAs saw year-over-year nonfarm job gains in December. Pocatello had the greatest increase at 4.8%, followed by Idaho Falls (4.3%), Boise (3.3%), Coeur d’Alene
(3.3%), Twin Falls (2.8%), and Lewiston (1%).
National Comparisons
Nationally, the unemployment rate was also unchanged between November and December, staying at 3.7%. The number of unemployed increased by 6,000 to 6.3 million. Total nonfarm payroll employment rose by 216,000 (0.1%) to 157.2 million.
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* Editors / News Directors – please note:
February and March will have nonstandard release dates due to the annual Bureau of Labor Statistics benchmarking process. Benchmarking includes revisions to state labor force estimates based on new inputs and population data. Nonfarm jobs are benchmarked using reported employer data.
Upcoming Idaho Release Schedule:
March 11, 2024: Statewide labor force and nonfarm jobs data for January 2024
March 22, 2024: Statewide labor force and nonfarm jobs data for February 2024
Find more labor market information at lmi.idaho.gov
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