Unemployment rate up in October; job growth puts Idaho ahead of nation

The state’s unemployment was up month-over-month in October to 3.2%, increasing by .1%, reported the Idaho Department of Labor.

Though the unemployment rate was up, so, too, was the number of employed people. Total employment increased by 693 (0.1%) to 939,743. The labor force also increased by 1,900 people (0.2%) to 971,208.

Unemployment increased by 1,207 people (4.6%) to 31,465, which is the highest since June of 2021, the state reported.

Nonfarm jobs increased by 3,700 (0.5%) to 863,500 last month. The industries that saw the largest increases were health care and social services (2.1%); wholesale trade (1.6%); state government (1.4%); construction (1.3%); information (1%); professional and business services (0.9%); arts, entertainment and recreation (0.7%); federal government (0.7%); nondurable good manufacturing (0.7%); and transportation, warehousing and utilities (0.6%).

According to the Department of Labor, three industries saw declines last month, which were private educational services (-3.9%), other services (-2.1%) and financial activities (-1.7%).

Out of Idaho’s six metropolitan statistical areas, Pocatello saw the greatest increase in nonfarm jobs at 1%. Boise followed with 0.9%, Idaho Falls at 0.6% and Coeur d’Alene with 0.1%. Lewiston saw a 0.3% decrease and Twin Falls saw a 0.2% decrease.

The unemployment rate is slightly higher than it was a year ago, up four-tenths of a percentage point. The number of unemployed people in Idaho is up 17.5% (4,685) over October of 2022.

Nationally, unemployment increased from September to October to 3.9%, with unemployment at 6.5 million people, an increase of 160,090. Nonfarm payroll employment across the country was up by 150,000 (0.1%) to 156.9 million people.