Idaho’s unemployment falls to 2.4% in December

Idaho (KMVT/KSVT) — Idaho’s unemployment rate has now fallen below the rate recorded before the pandemic.

The gem state’s unemployment rate fell to 2.4% in December, one-tenth of a point short of its previous record of 2.5% in December 2019. The number of Idahoans in the workforce or looking to get a job grew at the smallest over-the-month gain over the final months of 2021.

Labor force participation shrunk slightly from 62.3% to 62.2% in December, which drops the state’s participation rate below the previous historic low in June 2021.

Overall employment grew by 0.3%, and total unemployment dropped by 7.2%. Non-farm job growth exceeded expectations in December, growing to a total of 790,500 jobs, a gain of 2,000.

The greatest gains were seen in natural resources, information, transportation, warehousing and utilities, and durable goods manufacturing among others.

“Idaho’s economy is booming and people are working at historic rates, proving that the conservative principles of cutting taxes, slashing regulations, and making investments where they matter most lead to opportunity and prosperity for the people. Thank you to Idaho workers and employers big and small for our success! My LEADING IDAHO plan keeps us on this path of prosperity by using our record budget surplus to give back to the people through historic tax relief and significant investments in education, transportation, water, and other areas that impact people’s daily lives,” Governor Little said.