Layoffs swept across the Idaho economy in November, leaving a record 44,100 workers without jobs and sending the seasonally adjusted unemployment rate to a 15-year high.
More than 8,700 private-sector jobs vanished during the month. While retailers hired during the month, it was less than usual, and jobs in health care and education were essentially unchanged from October. Every other major sector was hit.
The November unemployment rate jumped half a percentage point from October to 5.8 percent, 3.1 percentage points higher than in November 2007. It was the third month this year that the rate has risen a half point. It was the largest rate increase from October to November on record, and only the seventh time in 30 years that there has been an October-November increase.
Total employment dropped for the second straight month to 717,000, nearly 20,000 fewer than in November 2007 and the fewest people working in any month since May 2006. Over 3,700 more people were without jobs statewide, and the unemployment rate in the Boise-Nampa, Coeur d’Alene and Lewiston metropolitan areas was at or above 6 percent. The Boise metro area experienced 64 percent of the employment loss and 41 percent of the increase in unemployed.
During the past year, 23,900 more Idahoans found themselves out of work in an economy that lost 18,000 jobs in those 12 months. November was the seventh straight month that nonfarm jobs have been below the year-ago levels, and every county in the state recorded higher unemployment in November than a year earlier. Mill closures and layoffs in mining and forestry hit northern and north central Idaho hard, and seven counties posted double-digit unemployment rates with Adams hitting 17 percent in November, the first time any county has hit 17 percent in a decade.
Regular state unemployment benefits totaled $6.3 million this past week, the first time ever that weekly payouts surpassed $6 million. More than 24,600 workers received regular benefit checks, almost twice the number for the same week in 2007 and the most for any week since March 2002 in the wake of the 2001 national recession. Another 3,400 unemployed workers received $924,000 in federally financed extended benefits.
“We’re facing one of the roughest economies Idaho has seen in decades, and unemployment benefits are important to workers and their families and the communities where they live,” Idaho Department of Labor Director Roger B. Madsen said. “The Labor Department will do all it can to help unemployed workers during these tough times.”
Nationally, the unemployment rate rose two-tenths of a point to 6.7 percent after businesses eliminated 533,000 jobs. Even after an increase more than double than national increase, Idaho’s rate remained below the national rate for the 86th consecutive month, but the gap has closed dramatically from over two percentage points last December to just nine-tenths of a point in November.
In just the last month, manufacturing in Idaho shed about 2,900 jobs, nearly half in high technology.
Construction was down another 1,500, and hotels and restaurants were off 1,700. Despite November’s hiring spurt, retailers still employed 2,900 fewer workers than a year ago, apparently willing to make a investment on the chance that holiday sales will pick up.
Employment in recreational areas should pick up in December and January if there is adequate snowfall, increasing activity at winter resorts. Again the number of additional jobs will depend on the economy. Resorts are luxuries that will probably experience a downturn during the weak economy.
In addition to Adams County, double-digit rates were reported in Benewah at 15.6 percent, Clearwater at 15.5 percent, Shoshone at 12.1 percent, Valley at 11.3, Boundary at 11.2 percent and Idaho at 10.1 percent.
Only two counties experienced unemployment rates at or below 3 percent. The lowest rate reported was in Owyhee County, 2.6 percent. Franklin was the other county with an unemployment rate at 3 percent.
Seasonally Adjusted Forecast Data
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11/08
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10/08
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11/07
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|
|
|
|
|
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Civilian Labor Force
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761,100
|
|
757,100
|
|
Unemployment
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44,100
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|
20,200
|
|
% Labor Force Unemployed
|
5.8
|
5.3
|
2.7
|
|
Total Employment
|
717,000
|
719,300
|
736,900
|
|
|
|
|
|
|
Unadjusted Forecast Data
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11/08
|
|
|
|
|
|
|
|
|
Civilian Labor Force
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759,500
|
|
757,300
|
|
Unemployment
|
42,700
|
|
19,300
|
|
% Labor Force Unemployed
|
5.6
|
|
2.5
|
|
Total Employment
|
716,800
|
|
738,000
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