Idaho's seasonally adjusted unemployment rates increased in June, but remain well below the national average. The Idaho Department of Labor said unemployment in Idaho might have bottomed out as job creation fell short of normal levels during the spring-to-summer transition.
June's unemployment rate of 2.5 percent is down nearly a full percentage point from 3.4 percent in June 2006.
"June was the fifth straight month that Idaho's jobless rate was been below 3 percent and the 26th month in a row the rate has been below 4 percent, the level most economists consider full employment," said Bob Fick, spokesman for the Idaho Department of Labor.
The national average remained unchanged at 4.5 percent. This is the 69th month Idaho's unemployment rate has been below the national rate.
Blaine and Camas counties fared better. Blaine reported a seasonally adjusted June unemployment rate of 1.9 percent, and Camas came in at 1.2 percent—the lowest unemployment rate in the state.
The notion that unemployment rates may have bottomed out comes as a result of less than expected job creation numbers from May and June. Idaho Department of Labor estimates 7,700 new jobs were created over the two-month stretch, a creation rate lower than the historic average of 8,000, Fick said.
"The number of June new hires, while still strong at over 21,000, was still 2,100 below a year earlier," Fick said. "And the number of weekly unemployment insurance benefit checks was up 12 percent over June 2006."
Fick said the June numbers do not reflect any of the layoffs Micron Technology Chairman Steve Appleton announced would occur this summer.
Throughout the state, the workforce in June totaled 736,600, down 1,400 from May's record level and more than 12,800 above total employment in June 2006. Total persons unemployed came in at 18,600. This is 1,200 more people unemployed than in May, reports estimated.
"Students ending school and looking for summer work typically add to the unemployment figure and then move out in July as they find jobs," Fick said.
Statewide, non-farm jobs rose 1.2 percent in June to 665,700. This is the fifth straight month this sector of the economy has increased. Since January, it is estimated that 34,000 non-farm jobs have been created, predominantly "in administrative and support services as demand for temporary summer workers rose," Fick said.
Construction—and more specifically commercial construction of hotels, restaurants, retail trade and government construction projects to assist in the combat of wildfires—has provided the biggest swell in new job creation, the state reported.
