Idaho's Unemployment Trends

Idaho's unemployment trends are getting attention as the job market experiences some small but notable shifts. While the state's employment numbers remain steadier than during certain past economic crises, recent data shows fluctuations influenced by both national and regional factors.

Job Gains Report Revised Downward By Over 800K Ahead Of Thursday's Weekly Jobless Claims Report
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Big Picture Factors Affecting Jobs

One thing causing changes is the rise in interest rates. When borrowing money gets more expensive, businesses slow down on hiring and growing. This is happening all over the country, not just in Idaho. Companies in industries like retail, manufacturing, and shipping are being especially careful about adding new jobs right now.

Across the U.S., unemployment rates have gone up a bit compared to last year. Even though it's a smaller change than what we saw during COVID-19 or the economic crash in 2009, it's enough to make a difference, especially in Idaho.

Job Gains Report Revised Downward By Over 800K Ahead Of Thursday's Weekly Jobless Claims Report
Getty Images
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How Idaho's Economy Plays a Role

Many jobs depend on the season here in Idaho. Agriculture, for example, creates a lot of work during certain times of the year but slows down in others. The same thing happens with tourism jobs, as the busy travel season comes and goes.

On the bright side, Idaho's tech and healthcare fields are still growing. These industries have been steady even while other parts of the economy feel the pressure. But for now, they're not quite big enough to make up for changes in other types of work.

What can we expect in 2025?

"The reelection of Donald Trump and his proposal to impose 25% tariffs on imports from Canada and Mexico may send ripples throughout the economy. A tariff increase could create an inflationary environment, shifting the labor market as inflation inches toward the 2% goal."

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