Idaho’s population has grown since the last recession, rising to 1.65 million people in 2015, a 5.3 percent increase since 2010, according to the U.S. Census Bureau. The number of households increased by 3.6 percent from 2010 to close to 590,000 in 2015 according to American Community Survey one-year estimates. Much of the growth has been concentrated in southwestern Idaho due to the expanding Boise metropolitan area. How has income fared in the same time period?
The U.S. Bureau of Economic analysis estimates that with the exception of a period of decline during the recession of 2007-09, per capita personal income has grown steadily over the past decade. When adjusted for inflation, the real per capita income grew by 9.2 percent from 2010 to 2014. The Inflation-adjusted median household income likewise grew by 11 percent between 2010 and 2015.
The city of Rathdrum has announced plans to form an urban renewal agency. The goal of the agency will be the development of Rathdrum’s large vacant areas which are currently zoned for light industrial. Rathdrum is home to two technical schools, and city officials expressed hope that development of the industrial areas will help keep graduates from these schools working in the city. Source: Coeur d’Alene Press
Empire Unmanned – a northern Idaho manufacturer of unmanned aerial vehicles – has announced that it will offer a certification course for commercial drone pilots. The company’s sales tripled in 2016 as commercial uses for drones have proliferated. The certification course, which will be offered at North Idaho College, will reflect the evolving regulatory requirements promulgated by the Federal Aviation Administration. Source: Coeur d’Alene Press
The Coeur d’Alene school board voted in favor of a $35.5 million bond measure and a $32 million operating levy, both of which will be put before votes in March. The measures come amid rapid enrollment growth which has left Coeur d’Alene schools significantly overcrowded. Due to rising assessed property values, tax rates would not increase even if both the bond and the levy are approved. Source: Spokesman Review
Only a few weeks into 2017 and it is already looking like big change for eastern Idaho. As 2016 came to a close a hefty number of building plans were solidified and in 2017 they will come to life. As the construction industry and housing markets are still recovering from the 2008 recession, eastern Idaho is seeing an unfamiliar jump in infrastructure expected in the next few years. While home building permit approvals are sky rocketing around the region, regional expansion is not stopping at residential building. Public and private entities alike are bringing big changes to the area. More than $22 million in commercial building permits were approved for eastern Idaho in 2016. Continue reading →
Idaho is comprised of 44 counties – seven urban and 37 rural – as classified by the Idaho Department of Labor. Idaho fits snugly between economic urban powerhouse states Washington and Oregon and more rural neighbors Montana and Wyoming. The geographic placement of Idaho creates a unique situation.
The broad county categories of urban and rural are based mostly on population density. Though a simple classification system, it may have some significant restrictions. As time passes more people are leaving rural areas out of economic necessity such as seeking better job opportunities, education access and health care amenities. Migration out-flow data shows that rural counties like Madison and Clark have the highest rates of out-migration – up to 17 percent annually. Meanwhile, only Canyon and Ada counties have experienced an annual out-migration of only 3 to 6 percent. Though these changes mimic national trends, rural communities throughout Idaho are still active and pushing to thrive. Besides population density, there are many characteristics that separate a rural area from an urban one.
STCU credit union opened a new branch in downtown Coeur d’Alene after remodeling a former Bank of America Location. The new location, which offers business services and consumer and commercial lending, is STCU’s 20th branch overall and its third in northern Idaho. Source: Coeur d’Alene Press
The Coeur d’Alene Planning Commission approved a permit for Lake Drive Apartments to build a 30-unit, five-story apartment complex in the underdeveloped East Sherman neighborhood. Lake Drive expressed hopes that construction could be completed in the summer of 2017. Source: Coeur d’Alene Press
The city of Coeur d’Alene relaxed its rules governing child care business licenses and will now grant licenses to applicants with marijuana charges more than five years old. The change was made to address a serious local shortage of child care providers. The city expressed optimism that the relaxed rules will help address the shortage. Source: Coeur d’Alene Press
This is the third of a three-part series about Idaho’s rural economy. This part projects how rural Idaho’s population by age group and labor force participation will look in 10 years based on the previous 10-year trends.
Part one examines elements impacting Idaho’s rural economy today, including population, educational attainment, industries, occupations and wages.
Part two evaluates which dynamics influence rural Idaho’s dwindling labor force.
The population divide between urban and rural Idaho is expected to widen over the next decade, following a national trend that favors urban areas. This will create continued challenges to the economic success of Idaho’s rural areas by limiting the human capital available to employers.
The state’s population is expected to increase by over a quarter of a million people to 1.9 million by 2025.
Source: Communications and Research Division, Idaho Department of Labor, 2016; Bureau of Labor Statistics, 2016
This is the second of a three-part series about Idaho’s rural economy. This part evaluates which dynamics influence rural Idaho’s dwindling labor force.
Part oneexamines elements impacting Idaho’s rural economy today, including population, educational attainment, industries, occupations and wages.
Part three projects how rural Idaho’s population by age group and labor force participation will look in 10 years based on the previous 10-year trends.
A lack of skilled labor is an ongoing struggle for Idaho’s rural economy. Idaho’s rural labor force has not grown since 2010; during the same period, the state’s urban labor force grew by more than 7 percent. The question of labor force is therefore critical to evaluating rural economies. Specifically, it is important to understand what caused stagnation in rural labor forces. In this analysis, we evaluate demographic and economic factors to determine whether rural labor force issues are caused by the usual suspects – aging and economic conditions – or whether there are other, undiagnosed problems. This analysis suggests that rural Idaho’s labor forces have declined for demographic and economic reasons, and not due to cultural or structural factors which are unique to rural economies.
Idaho’s unemployment rate – the ratio of the number of unemployed persons to the total number of participants in a labor market – is often viewed as the go-to measurement of economic health. Yet it can be misleading as the unemployment rate can decline both due to employment growth – unemployed persons finding work – and a decrease in the total labor force – unemployed persons stop looking for work altogether. The former case represents an increase in economic activity, while the latter does not. Continue reading →