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Jobless Benefit Payments Below 10,000 For First Time In Almost Six Years
Boise, Idaho (KMVT-TV, KTWT-TV) - For the first time since the end of November of 2007, the number of weekly Idaho unemployment insurance payments fell below 10,000. This happened in the first week of September.
The Idaho Department of Labor’s weekly jobless benefit report showed 6,774 regular benefit payments totaling just under $1.66 million and an additional 2,874 federal extended benefit payments for $639,000. This totaled 9,648 payments worth $2.3 million.
There were 10,679 payments totaling more than $2.5 million in the last week of August.
The last week of November of 2007 was the last time payments came in under 10,000. That week, there were 9,269 payments adding up to just less than $2.3 million. There were no federal extended benefits then, and payments and amounts were heading up as the economy stalled with the looming recession. The recession officially started at the end of 2007.
Almost $2.4 billion in state and federal unemployment benefits have been paid to hundreds of thousands of Idaho workers since 2007.
The last time Idaho’s benefit payments fell below 10,000, the state’s unemployment rate was at 3.3 percent. It was at 6.6 percent in July, up from 6.1 percent this past spring.