August 2006 Idaho Commerce & Labor Connections

Visit us on the Web: http://www.cl.idaho.gov

In This Issue:

* Idaho Leads Nation in Second Quarter Job Creation

* July Unemployment Rate Up Slightly to 3.6 Percent

* Idaho Second Quarter Exports Stay At Record Level

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Idaho’s Hispanic Population Continues to Grow
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Risch: Grants Key to Expanding Idaho Tourism

* Assistance Available to Communities Struggling With Rapid Growth

* Boise Named 8th Most Inventive City

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The Month’s Top Stories

Idaho Leads Nation in Second Quarter Job Creation

The Idaho economy produced new jobs at the fastest pace in the nation between the second quarter of 2005 and the second quarter this year. The 31,100 new nonfarm jobs generated over the four quarters represented just over 5.1 percent growth. Nevada was second right at 5.1 percent and Arizona third at 4.78 percent. Nationally, nonfarm jobs increased 1.4 percent. Over 3,100 more employers were operating in the state on June 30 than a year earlier. "Job growth indicators point to another strong third quarter but at more a moderate, sustainable level," Idaho Commerce & Labor Director Roger B. Madsen said.

July Unemployment Rate Up Slightly to 3.6 Percent

Idaho’s seasonally adjusted unemployment rate increased one-tenth of a percentage point to 3.6 percent in July, continuing the historic streak of 15 straight months of unemployment rates below 4 percent. Only twice before has the rate ever been that low � 3.9 percent in December 1965 and again in May 1966. The lowest rate, 3.2 percent, was recorded in March of this year. The unemployment rate in July 2005 was 3.8 percent.

Idaho Second Quarter Exports Stay At Record Level

Export sales of Idaho goods and services totaled nearly $901 million during the second quarter of 2006, keeping the state on a record-setting pace. Idaho’s 21 percent increase over the spring quarter of 2005 is well ahead of the national increase of 13.5 percent. The $900.8 million total set a record for the April-June quarter, coming on the heels of record first quarter sales of over $857 million. The only higher three-month periods were the third and fourth quarters in 2000. Both were over $1 billion, leading to the state’s annual export record of nearly $3.6 billion that year. The value of international sales during the first six months was nearly $1.8 billion, $311 million ahead of the export pace in 2000. Seventy percent of the sales in both quarters this year came from the high technology sector.

Idaho’s Hispanic Population Continues to Grow

Hispanics accounted for one of every six new people in Idaho from mid-2004 to mid-2005, giving the state’s largest and fastest growing minority 9.1 percent of the total population. New Census Bureau estimates show the state’s Hispanic population grew by more than 4.8 percent during the latest 12-month estimating period that ran through June 2005. That was twice Idaho’s overall population growth rate of 2.4 percent during the same year-long period. The Census Bureau put Idaho’s Hispanic population at 129,880 on July 1, 2005. Idaho’s total population was 1,429,096.

Grants Key to Expanding Idaho Tourism

Gov. Jim Risch is calling the state’s multimillion-dollar annual investment in tourism promotion a key to expanding an industry that already generates over $2 billion a year. "Our natural resources and the communities that live, work and play around them are huge assets that are still unknown to people not just in other states but in other regions of our own state," the governor said. "These grants, from the smallest to the largest, help promote the best of Idaho’s people and places." Forty-two proposals seeking $3.9 million were submitted to the Idaho Travel Council. The council had to winnow out five proposals to cut the total down to the money available this year from the 2 percent tax on hotel, motel and campground accommodations.

Assistance Available to Communities Struggling With Rapid Growth

Communities faced with mounting problems brought on by unexpected rapid growth have until Aug. 31 to apply for financial support through Idaho Commerce & Labor’s new Growth Management Program. The Idaho Legislature and governor set aside $250,000 to bring community leaders together with experts who can help them deal with the challenges that come with growth.

Boise Named 8th Most Inventive City

Boise ranks eighth on the list of "Top 20 Most Inventive Towns" commissioned by the Wall Street Journal. Topping the list was San Jose, Calif.; Sunnyvale, Calif., and Austin, Texas. Boise, with 1,213 patents awarded to its companies and individual inventors, beat out San Francisco with 1,022 patents, Portland, Ore., with 784 and Seattle with 756. Boise and Austin were the only two cities outside of California to rank in the top 10.

Calendar of Events

Aug. 20-26: Sixth World Potato Congress & Farm Show takes place in Boise, hosted by the National Potato Research and Education Foundation and its industry partners. Leaders of the worldwide potato industry will engage in a week of educational sessions, networking events, field demonstrations, new technologies and a world-class equipment exhibition. For more information go to http://www.potatofoundation.com/WPC_2006/index.html for details.

Aug. 22-23: Workforce Development, Economic Advisory councils meet in Boise and Twin Falls to hear the policy priorities of local and regional leaders. Sessions have already been held this month in Pocatello, Coeur d’Alene, Lewiston and Idaho Falls. For information visit cl.idaho.gov or contact Alice Taylor at [email protected] or (208) 332-3570 ext. 3313.

Aug. 29-31: Unemployment Insurance Seminars will be held in Boise, Nampa and Meridian to help employers understand Idaho’s wage and hour and unemployment insurance laws. Five others have already been held in Ponderay, Coeur d’Alene, Idaho Falls, Pocatello and Twin Falls. For information, call (208) 332-3570 ext 3576 or 800-448-2977 ext 3253 or visit http://cl.idaho.gov for registration.

Sept. 5-8: The National Association of State Workforce Agencies holds its 70th Annual Convention at the Boise Centre on the Grove. For more information go to http://www.workforceatm.org/ and click on Idaho NASWA 2006.

Sept. 11: The Workforce Development Council meets in Boise at the Grove Hotel. For information, contact Alice Taylor at [email protected] or (208) 332-3570 ext. 3313.

Sept. 12-13: 2006 Governor’s Summit on Aging will be held at the Centre on the Grove in Boise. For information contact Bettina Briscoe at (208) 334-3833 or at [email protected]

Sept. 19: The Idaho Film Industry Advisory Committee holds its first meeting at the Commerce Division, 700 W. State St. in Boise, at 9:30 a.m. For more information on the Idaho Film Bureau, visit http://www.filmidaho.com

Call or e-mail Bob Fick, editor, with questions or comments: (208)-332-3570 ext. 3628 or [email protected]

"We Create Jobs, Strengthen Communities and Market Idaho."

IDAHO COMMERCE & LABOR
P.O. Box 83720, Boise, Idaho 83720-0093
Tel: 208-334-2470; Fax: 208-334-2631
Web: cl.idaho.gov

JAMES E. RISCH, GOVERNOR
Roger B. Madsen, Director

Idaho Commerce & Labor is an equal opportunity employer.
This document is available upon request in alternative formats for individuals with disabilities.
bob.fick @cl.idaho.gov • Roger B. Madsen