Idaho’s June unemployment rate increases to 3.4%
Idaho’s seasonally adjusted unemployment rate was 3.4% in June, an increase from May’s rate of 3.3%.
The state’s labor force increased by 2,227 people (0.2%) to 977,902 while the labor force participation rate — the percentage of people 16 years of age or older who are either employed or looking for work — increased from 62.7% to 62.8% between May and June.
Total employment increased by 1,649 (0.2%) to 944,740 as unemployment increased by 578 (1.8%) to 33,162.
Idaho’s nonfarm jobs increased by 1,800 (0.2%) to 871,100. Industry sectors with the greatest over-the-month increases included federal government (3.5%), private educational services (3.4%), state government (1.2%), finance and insurance (1%), professional and business services (1%), wholesale trade (0.8%), construction (0.7%) and nondurable goods manufacturing (0.6%).
Industries that experienced job losses in June included natural resources (-2.4%); other services (-1.9%); arts, entertainment, and recreation (-1.1%); information (-1.1%); durable goods manufacturing (-0.9%); retail trade (-0.6%); local government (-0.5%); and transportation, warehousing, and utilities (-0.3%).
Five of Idaho’s six Metropolitan Statistical Areas (MSAs) had over-the-month nonfarm job increases in June. Pocatello had the largest increase at 1.3%, followed by Twin Falls
(0.4%), Boise (0.3%), Coeur d’Alene (0.3%) and Idaho Falls (0.1%). Lewiston was unchanged in June.
Year over Year
Idaho’s 3.4% unemployment rate for June 2024 was up from 3% the prior year. The labor force was up 1.7%, an increase of 16,410 people.
The number of unemployed Idahoans increased 13.7% (3,988) while the total number of employed increased 1.3% (12,422).
Total nonfarm jobs increased by 2.8% (24,000). Most major industry sectors gained jobs except other services (-5.1%), information (-4.3%), retail trade (-1.1%), accommodation and food services (-0.5%) and financial activities (-0.5%).
All of Idaho’s MSAs saw year-over-year nonfarm job gains in June. Pocatello had the greatest increase at 3.1%, followed by Boise (3%), Lewiston (3%), Coeur d’Alene (1.6%), Idaho Falls (1.1%) and Twin Falls (1%).
National Comparisons
Nationally, the unemployment rate increased between May and June, up to 4.1% from
4%. The number of unemployed increased by 162,000 to 6.8 million. Total nonfarm payroll employment rose by 206,000 (0.1%) to 158.6 million.
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Upcoming Idaho Release Schedule:
Aug. 16, 2024: Statewide labor force and nonfarm jobs data for July 2024
Sept. 20, 2024: Statewide labor force and nonfarm jobs data for August 2024
Find more labor market information at lmi.idaho.gov
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