Idaho Unemployment Remains at 3 Percent For Half a Year
The Gem State continues to see good economic news, at least in the category of unemployment, as Idaho's unemployment rate remains steady at 3 percent for a half year.
The February statistics make it official that Idaho has maintained a 3 percent unemployment rate for 6 months. In real numbers, that means that 821,500 residents of Idaho are employed while 25,000 are seeking new jobs. Idaho also has a labor force participation rate of of 64 percent, meaning that of those age 16 or older, that is the percentage of people with job or currently seeking employment.
The Idaho Department of Labor also noted that Idaho has the fastest nonfarm job growth in the last year, adding approximately 24,000 jobs.
The sector with the most increased job growth was construction, climbing 9.3 percent adding 4100 jobs to the Idaho economy. No big surprise there with all the new construction projects we're seeing in Boise alone.
For more on this report, check out US News & World Report.