Gem state jobless rate reaches a record high
Friday, July 3, 2009 10:25 AM PDT
BOISE (AP) — Idaho’s unemployment rate bounced a half of a percentage point to 8.3 percent in June from a month earlier, the highest rate in a quarter-century and the latest sign the state’s economy remains mired in recession.
A year ago, the state’s jobless rate was just 4.7 percent. In September 2007, it was just 2.7 percent. Another 3,400 Idaho residents lost their jobs in June. The month marks the first time the number of unemployed in the state has topped 62,000.
Over 40,000 of those workers shared $59 million in unemployment insurance benefits paid out during the month.
Meanwhile, 50,000 employers statewide reported hiring only 14,500 new workers during the month, the lowest June total since 1998.
The last time Idaho unemployment was this high was October 1983.
The national unemployment rate rose a tenth of a point to 9.5 percent.
