Idaho’s May unemployment rate falls to historic low of 2.5%

department-of-labor

Idaho’s seasonally adjusted unemployment rate was 2.5% in May, down from April’s rate of 2.6%. May’s rate marks the fourth consecutive month of historic lows since record keeping began in 1976.

The number of Idahoans employed or looking for work grew by 6,373 people or 0.7% to 943,390. Labor force participation increased by 0.3 percentage points between April and May to 62.4%.

Total employment grew from April by 6,823 to 919,785 while total unemployment dropped by 450 to 23,605.

Industry sectors with the greatest over-the-month gains include information up 2.5%; durable goods manufacturing rose 1.2%; accommodation and food services up 0.6%; and professional and business services was up 0.6%.

Year over year, Idaho’s unemployment rate was down 1.2 percentage points from May 2021, while the stat’es labor force was up 3%, an increase of 27,595 people.

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