BOISE, Idaho (News Release) — Idaho’s seasonally-adjusted unemployment rate for December 2016 was revised by the U.S. Bureau of Labor Statistics (BLS) to 3.6 percent – one-tenth percent lower than the 3.7 percent first reported.
The BLS also confirmed Idaho’s annual average unemployment rate for 2016 at 3.8 percent.
Revisions to Idaho’s 2016 and 2015 labor market estimates were minor and the result of an annual benchmark process conducted by the BLS. The revision process takes into account updated and additional data to revise two years of previously estimated monthly unemployment rates and labor market conditions by smoothing out the volatility of monthly change.
According to the BLS, components of Idaho’s unemployment rate demonstrated greater strength than first estimated.
The state’s labor force grew by 15,000 from January 2016 to December 2016, significantly more than the 7,900 pre-benchmark figure. Idaho’s annual average labor force was 814,300 for 2016 - up 2.2 percent over 2015. This change is primarily due to updated population figures.
Revised statewide total employment figures ended the year with an increase of 19,700 during 2016, almost 2,700 more than previously estimated, up 2.6 percent over 2015.
Unemployment totals were revised little, with the addition of only 300 more unemployed Idahoans at the end of 2016 than original estimates, down 6.9 percent from 2015.