Developments
Region
- In early September, the U.S. Drought Monitor downgraded most of the north central region from D1 Moderate Drought to D2 Severe Drought as dry conditions persist. Source: US Drought Monitor
- Wheat harvest in north central Idaho has been challenging due to extremely low market prices that could realistically result in operational losses for local farmers. Winter wheat had above average yields while spring wheat varied from below-to-average yields. Weather was listed as the top issue for the 2024 crop season. Source: PNW Co-Op
- A shortage of referees and officials is resulting in regional fall volleyball and football games being rescheduled and potentially canceled throughout the region. Source: Lewiston Tribune, KOZE, Idaho County Free Press
- Local government outlooks for the next fiscal year:
- Latah County is seeing budget increases for employee salaries, June 2025 Kohberger trial expenses, and grants covering internet broadband deployment offset by predicted lower revenue distributions from sales taxes and alcohol.
- The city of Moscow will increase property taxes by 4% and add three new paid paramedic/firefighter positions, $5 million toward the construction of a new city shop facility and proposed 4% cost of living increase to city staff. The city eliminated six positions in Fiscal Year 2024 that will remain vacant and unfunded for the upcoming year.
- Nez Perce County will purchase a microwave simulcast repeater for improved emergency communications, add a cybersecurity position, and pay final completion bills of the newly constructed county courthouse.
- The city of Lewiston plans to cut unfilled positions (transit driver, groundskeeper, administrative assistant and arborist) and reduce cash reserves to keep property tax rates flat in the upcoming year. It may look to hire more police officers for the 2025-26 fiscal year.
Region
Labor force estimates for August 2024 from the Idaho Department of Labor’s Local Area Unemployment Statistics had both total employment and total unemployment increasing slightly in the seven-county southeastern region. Seasonally adjusted, August’s preliminary estimates have labor force participants increasing by 112 people, with 131 more employed people and 19 fewer unemployed people. The seasonally adjusted unemployment rate is 3.5%, the same as July 2024 and 0.4% higher than August 2023.
| Southeastern Idaho, seasonally adjusted data | Aug-24 (P) | Jul-24 (R) | Aug-24 (B) |
|---|---|---|---|
| Civilian labor force | 91,202 | 91,090 | 87,962 |
| Total employment | 88,046 | 87,915 | 85,244 |
| Unemployment | 3,156 | 3,175 | 2,718 |
| % of labor force unemployed | 3.5% | 3.5% | 3.1% |
| Source: Idaho Department of Labor | P – Preliminary, | R – Revised, | B – Benchmark |
In August 2024, there were 530 unique online job postings in the southeastern Idaho labor market area, which decreased 26% from the prior month at 718 and 24% over the year at 695. The median job posting duration was 12 days, down one day from July and down two days from August 2023.
Region
Labor force estimates for August 2024 from the Idaho Department of Labor’s Local Area Unemployment Statistics have total employment and unemployment increasing in the nine-county eastern region. Seasonally adjusted, August’s preliminary estimates have labor force participants increasing by 352 people, with 333 more employed people and 19 more unemployed people. The seasonally adjusted unemployment rate for the region remained at 3.1%, the same as June 2024, and 0.4 percentage points higher than July 2023.
Figure 1.
Eastern Idaho, seasonally adjusted data Aug-24 (P) Jul-24 (P) Aug-23 (B)
Civilian labor force 132,539 132,187 128,928
Total employment 128,375 128,042 125,499
Unemployment 4,164 4,145 3,429
% of labor force unemployed 3.1 3.1 2.7
P – Preliminary, R – Revised, B – Benchmarked
Source: Idaho Department of Labor
Region
- Labor demand in south central Idaho remained stable in August 2024, with a total of 2,753 unique job postings in the region, a 5.4% decrease from 2,912 unique postings in July 2024. The unemployment rate remained at 3.5% from July 2024 and has increased 0.3% from August 2023. Total employment has increased 2.6% over the past year.
| South central Idaho seasonally adjusted data | August-24 (P) | July-24 (R) | August – 23 (B) |
|---|---|---|---|
| Civilian labor force | 109,678 | 109,032 | 106,539 |
| Total employment | 105,802 | 105,218 | 103,151 |
| Unemployment | 3,876 | 3,814 | 3,388 |
| % of labor force unemployed | 3.5% | 3.5% | 3.2% |
| Source: Idaho Department of Labor | P – Preliminary | R – Revised | B – Benchmarked |
Region
Labor force estimates for July 2024 from the Idaho Department of Labor’s Local Area Unemployment Statistics (LAUS) had total employment and total unemployment increasing in the seven-county southeastern region. Seasonally adjusted, July’s preliminary estimates have labor force participants increasing by 1,177 people, with 1,161 more employed people and 16 more unemployed people. The seasonally adjusted unemployment rate is 3.5%, the same as June 2024 and .2% lower than July 2023.
Continue reading “Around Southeastern Idaho: Economic activity, August 2024”
| Top 10 occupations by unique job postings in south central Idaho, June 2024 | Postings, Jun-24 | Postings, Jun-23 |
|---|---|---|
| Retail salespersons | 136 | 99 |
| Registered nurses | 135 | 127 |
| Heavy and tractor-trailer truck drivers | 134 | 73 |
| First-line supervisors of retail sales workers | 72 | 75 |
| Customer service representatives | 61 | 60 |
| Cashiers | 58 | 36 |
| Sales representatives, wholesale, manufacturing, except technical and scientific products | 54 | 28 |
| Laborers and freight, stock, material movers and hand | 51 | 34 |
| Fast food and counter workers | 48 | 23 |
| General and operations managers | 47 | 45 |
| Source: Conference Board via Lightcast |
Region
- Labor demand in northern Idaho remained stable in July, 2024, with a total of 2,043 unique job postings in the region – a slight uptick from 1,872 in June. The unemployment rate rose slightly in July from 4.6% to 4.8%, increasing by a full percentage point from July 2023. Overall, total employment has decreased slightly over the last year.
North Central
- The Nez Perce Tribe was awarded a $37 million Climate Pollution Reduction Grant by the US Environmental Protection Agency (EPA) to install solar power infrastructure, improve residential weatherization, complete wood stove replacements and electric vehicle networks. Source: KOZE, EPA, Lewiston Tribune
- Gwen Fire Summary: The U.S. Forest Service reported a lightning bust on July 24th with over 3,000 lightning strikes that ignited 69 known wildfires throughout north central Idaho. 30-40 miles per hour wind gusts on July 25th resulted in the Gwen Fire quickly raging through nearly 29,000 acres of Nez Perce and Latah counties. Over 160 structures, including 38 primary residences, were destroyed. The fire closed parts of both Highway 3 and Highway 12 for over three days and resulted in an evacuation order for the entire City of Juliaetta.
Region
| Median price sold | 2024 | 2023 | Change |
|---|---|---|---|
| Ada | $545,000 | $542,450 | 0.5% |
| Adams | $640,000 | $825,000 | -22.4% |
| Boise | $510,000 | $712,500 | -28.4% |
| Canyon | $424,900 | $404,990 | 4.9% |
| Elmore | $373,995 | $355,000 | 5.4% |
| Gem | $456,750 | $519,000 | -12.0% |
| Owyhee | $392,450 | $475,000 | -17.4% |
| Payette | $383,000 | $387,000 | -1.0% |
| Valley | $770,000 | $721,500 | 6.7% |
| Washington | $314,500 | $318,540 | -1.3% |
| Source: Intermountain Multiple Listing Service | |||
| Days on market | 2024 | 2023 | Change |
|---|---|---|---|
| Ada | 36 | 33 | 9.1% |
| Adams | 100 | 38 | 163.2% |
| Boise | 41 | 52 | -21.2% |
| Canyon | 46 | 42 | 9.5% |
| Elmore | 41 | 35 | 17.1% |
| Gem | 40 | 62 | -35.5% |
| Owyhee | 42 | 83 | -49.4% |
| Payette | 44 | 66 | -33.3% |
| Valley | 56 | 42 | 33.3% |
| Washington | 40 | 70 | -42.9% |
| Regional average days | 49 | 52 | -7.1% |
| Source: Intermountain Multiple Listing Service | |||
Bonneville, Butte, Clark, Custer, Fremont, Jefferson, Lemhi, Madison and Teton counties
Region
Labor force estimates for July 2024 from the Idaho Department of Labor’s Local Area Unemployment Statistics (LAUS) have both total employment increasing and unemployment increasing in the nine-county eastern region. Seasonally adjusted, July’s preliminary estimates have labor force participants increasing by 1,754 people, with 1,578 more employed people and 176 more unemployed people. The seasonally adjusted unemployment rate is 3.1%, 0.1 percentage points higher than June 2024 and a half a percent higher than July 2023.