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Seasonality in Idaho's Job Market Webinar
Lisa Grigg, Idaho Department of Labor labor economist for north central Idaho, presented the topic about seasonality in Idaho’s job market. Participants learned the reasons behind seasonality and what seasonal adjustments are. They also learned how the process allows clearer comparisons of data over time as calendar effects, major outliers and one-time events are eliminated.
Committee presentation explores Idaho’s expected labor market growth, need for more workers
Recent population projections from the Idaho Department of Labor anticipate Idaho will continue its record of rapid growth, with the total statewide population crossing over 2 million for the first time by 2031.
Idaho’s January unemployment rate down to 2.7%
Idaho’s seasonally adjusted unemployment rate was 2.7% in January, edging down from the revised 2.8% rate in December.
December 2022’s unemployment rate was revised down from 2.9% due to the Bureau of Labor Statistics’ annual benchmarking process.
Committee presentation explores Idaho’s expected labor market growth, need for more workers
Idaho’s continued low unemployment rate is one of many aspects of the state’s economy presented to the Idaho Legislature’s Economic Outlook and Revenue Assessment Committee Jan.5, 2023. Labor’s presentation covered the outlook for the state’s labor participation rate, its ongoing need for more workers and more.
Idaho’s wage growth driven by lower income earners
While average wage gains seem to fit in an orderly pattern over the past 10 years, large differences exist in how these gains have been distributed among lower and higher wage earners.