Idaho’s seasonally adjusted unemployment rate was 3.7% in October, up from 3.6% in September.
The state’s labor force increased by 3,738 people (0.4%) to 993,428 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 63.2% to 63.3% between September and October.
Total employment increased by 3,037 (0.3%) to 956,960 as unemployment increased by 701 (2%) to 36,468.
Idaho’s nonfarm jobs increased by 3,800 (0.4%) to 881,500. Industry sectors with the greatest over-the-month increases included private educational services (3.8%); nondurable goods manufacturing (2.4%); other services (1.9%); healthcare and social services (1.4%); state government (1.1%); finance and insurance (1%); transportation, warehousing, and utilities (0.9%); real estate and rental and leasing (0.8%); construction (0.6%); and local government (0.5%).
Industries that experienced job losses in October included arts, entertainment, and recreation (-1.7%); information (-1.1%); professional and business services (-1.1%); and wholesale trade (-0.5%).
Five of Idaho’s six Metropolitan Statistical Areas (MSAs) had over-the-month nonfarm job increases in October. Lewiston experienced the largest increase at 1%, followed by Pocatello (0.5%), Twin Falls (0.4%), Boise (0.2%) and Idaho Falls (0.2%). Coeur d’Alene saw a decrease of 0.1%.
Year over Year
Idaho’s 3.7% unemployment rate for October 2024 was up from 3.3% the prior year. The labor force was up 2.7%, an increase of 25,711 people.
The number of unemployed Idahoans increased 12.9% (4,155) while the total number of employed increased 2.3% (21,556).
Total nonfarm jobs increased by 3.1% (26,300). Most major industry sectors gained jobs except information (-5.4%), natural resources (-4.7%), accommodation and food services (-1.9%), other services (-0.7%), and retail trade (-0.5%).
All of Idaho’s MSAs saw year-over-year nonfarm job gains in October. Boise had the greatest increase at 3.7%, followed by Pocatello (3.3%), Idaho Falls (2.7%), Lewiston (2.3%), Twin Falls (2%) and Coeur d’Alene (0.3%).
National Comparisons
Nationally, the unemployment rate was unchanged between September and October, remaining at 4.1%. The number of unemployed increased by 150,000 to 7 million. Total nonfarm payroll employment rose by 12,000 to 159 million.
