Idaho’s Second Quarter 2016 Wages Show 4.2 Percent Increase over 2015Jan 10th, 2017 | By Sarah Glenn | Category: Economic Indexes
Idaho’s private sector average weekly wage grew by $30 between the second quarters of 2015 and 2016 to $743.
The state’s 4.2 percent over-the-year increase during the second quarter of 2016 was twice the national average rate of 2.1 percent and put Idaho in fourth place behind Washington, New Hampshire and Oregon in over-the-year wage growth for the second quarter.
Nationally the most significant wage declines were in the energy-producing states of Alaska, West Virginia, Wyoming and North Dakota.
Almost all Idaho industries saw solid gains in the average weekly wage. Management of companies and enterprises led the way with double-digit increases of 27 percent, followed by retail, up 10 percent. Only educational services, real estate and rental and leasing experienced slight declines.
Covered employment also grew during this period, with Idaho increasing 3.9 percent, second in the nation behind Utah (4.2 percent) and double the national average of 1.9 percent.
Almost all of Idaho’s industries also experienced over-the-year employment growth. Administrative and waste services; educational services; construction; arts, entertainment and recreation; and accommodation and food services all saw average employment gains of greater than 5 percent. Four industries experienced a decrease in employment – wholesale trade; mining; management of companies and enterprises; and information together lost 640 jobs. Overall, the economy gained 21,575 jobs.
Over the past three years, Idaho’s wages have grown by 9.4 percent, ninth in the nation. These gains move Idaho’s average weekly wage to 48th in the country up one spot from 49th a year ago. For more information, visit LMI.Idaho.gov.
The data used in this release comes from the Quarterly Census of Employment and Wages (QCEW) and covers over 90 percent of employment in Idaho. QCEW serves as the primary source for employment and wage information reported by employers for workers covered by state and federal unemployment insurance laws and provides the best possible insight into the labor market.