State unemployment rate inches up to 3%
Source: Idaho Department of Labor
Idaho’s seasonally adjusted unemployment rate was 3% in November, edging up from October’s 2.9%.
November’s labor force — which is composed of both employed and unemployed workers — increased by 1,930 people (0.2%) to 963,380. Total employment increased by 1,474 (0.2%) to 934,756. The total number of people unemployed and looking for work increased by 456 (1.6%) to 28,624.
Labor force participation decreased by 0.1 percentage points to 62.5% as the civilian population increased at a faster rate than the labor force.
Idaho’s nonfarm jobs increased by 500 to 827,400 in November. Industry sectors with the greatest over-the-month gains include arts, entertainment and recreation (4.8%); private educational services (1.4%); construction (1.3%); state government (0.9%); and health care and social services (0.7%).
Industries with the greatest job declines in November were professional and business services (-1.8%), wholesale trade (-0.8%) and financial activities (-0.5%).
Four of Idaho’s six Metropolitan Statistical Areas (MSAs) saw over-the-month nonfarm job increases in November. Pocatello saw the largest increase with 1%, followed by Coeur d’Alene (0.8%), Lewiston (0.7%) and Idaho Falls (0.3%). Twin Falls and Boise saw over-the-month job losses of 0.4% and 0.1%, respectively.
Year over Year
Idaho’s unemployment rate was down 0.2 percentage points from November 2021. The labor force was up 4.5%, an increase of 41,551 people.
The number of unemployed Idahoans dropped 1.7% (-484), while the number of employed rose 4.7% (42,035).
Idaho’s total nonfarm jobs increased by 3% (23,800). Every major industry sector showed over-the-year job gains except for other services (-5.3%); administration, support and waste management services (-5.3%); and financial activities (-1%).
All of Idaho’s MSAs saw year-over-year nonfarm job gains. Twin Falls saw the greatest increase at 3.9%, followed by Idaho Falls (2.9%), Pocatello (2.6%), Boise (2.5%), Coeur d’Alene (2.1%) and Lewiston (1.7%).
National Comparisons
Nationally, the unemployment rate remained at 3.7% between October and November, and the number of unemployed increased by 6,882 to 6.1 million. Total nonfarm payroll employment rose by 263,000 (0.2%) to 153.5 million, which is above pre-pandemic levels.
