The U.S. Department of Labor adjusted Idaho’s forecasted August unemployment rate upward on Monday a tenth of a percentage point to a seasonally-adjusted 8.9 percent. That is the highest rate since June 1983, when the rate was 9 percent.
In adjusting the rate using additional information available over the past 10 days, the Labor Department determined that the work force – the total number of people with jobs and looking for jobs – declined by only 1,200 rather than the 3,200 initially forecast. But total unemployment was 600 higher at 66,900, resulting in the rate increase.
Total employment at 686,400 was at its lowest level since February 2005. In just the last year, Idaho lost over 48,000 jobs.
Idaho’s seasonally adjusted unemployment rate rose above 8 percent in June and has been rising ever since. That has placed the state in a high unemployment period, which triggers additional benefits for unemployed workers who exhaust all other benefits between now and the end of the year. Last week, 163 workers exhausted their regular and federally-financed benefits, which run from 28 to 72 weeks.
Those qualifying for the additional benefit triggered by the high unemployment rate will receive three to seven additional weeks of benefits depending on earnings during the 15 months prior to layoff.