Friday, January 22, 2010

Just in from Washington

Idaho's December Jobless Revised Down to 9.1 Percent

Washington--The U.S. Department of Labor revised the Gem State's December unemployment rate downward a tenth to a seasonally adjusted 9.1 percent.

The revision matched Novembers and comes in as the highest unemployment rate since May of 1983. Using additional economic information gathered last week, the department determined that total employment was higher than originally forecast while the number of unemployed actually dropped from November to remain under 69,000.

It was the first time since April that the number of workers without jobs has declined from the previous month. Despite persisting job losses across much of the economy, Idaho's total number of employed remained at just over 685,000 - the fewest number of employed since January 2005. While the gap in total jobs continued to close in December, it was only fractionally smaller than in November at a year-over-year loss of 5.3 percent.

Idaho Department of Labor analysts anticipate the jobless rate could rise further over the next few months before leveling off at or below 9 percent during the second half of this year.

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