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Redfish Lake in Idaho
Each Friday we take a look back at the five posts that got the most views, comments and shares over the week. Let us know what you think!
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At least 61,000 Idahoans were out of work in May.
Mirroring the national jobless rate increase, Idaho’s unemployment rate rose one-tenth of a percentage point last month, ending a nine-month decline in the economic measure.
Idaho’s seasonally adjusted jobless rate ticked up to 7.8 percent in May, from 7.7 percent in April.
Idaho is among 18 states where the jobless rate went up in May, according to the Bureau of Labor Statistics.
The Idaho Department of Labor reports hiring slowed in the service sector. That can have a big impact on the rate, since four of every five Idaho jobs fall into this category. Continue Reading
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Foreclosure activity rose last month in Idaho, but the housing market's overall trend is one of improvement.
Idaho saw a 9 percent uptick in foreclosure filings from April to May, according to housing data provider RealtyTrac. That mirrors the 9 percent rise in foreclosure activity seen nationally over the same period. RealtyTrac says foreclosure activity is picking up in the wake of the landmark, multi-billion dollar mortgage settlement reached earlier this year. Continue Reading
Idaho Technology Council
More than $2 million has been awarded to Idaho’s research universities for the first phase of the Idaho Global Entrepreneurial Mission or IGEM.
The public-private research initiative sailed through the 2012 Legislature after Governor C.L. “Butch” Otter pitched it as a way to expand technology development in Idaho.
Lawmakers set aside $5 million for IGEM. The first three projects were announced this week:
All three schools will use the money to further develop existing programs. In some cases that means hiring new faculty.
You can read more about IGEM here, and more about the universities plans here.
Molly Messick / StateImpact Idaho
Kelly Barker, in the backyard of her Meridian home.
For months now, our “Jobless in Idaho” series has followed people here in Idaho as they search for work against hard odds. Kelly Barker, a single mom from Meridian, had been out of work for the better part of a year when we met her last winter. Since then, she’s made do with a combination of temp work, food stamps and unemployment benefits. In April, those benefits were running out.
Scott Olson / Getty Images
There are about 44,000 Idahoans currently receiving WIC benefits.
Starting July 1, more low-income parents with young children will be eligible for food assistance.
The supplemental nutrition program Women, Infants and Children, or WIC provides certain foods to pregnant or breastfeeding moms and families with children under age five.
Tom Shanahan with the Idaho Department of Health and Welfare says the eligibility change is a cost-of-living adjustment, and it’s unclear how many more people in the state will be able to sign up for WIC. Continue Reading
John Moore / Getty Images
This week, workers lined up at a job fair in New York.
Here’s one lesson of the economic downturn: unemployment disadvantages different age groups in different ways.
Yesterday, we revisited the problem of high teen unemployment, which is particularly severe here in Idaho. Labor economists predict the resulting lack of work experience among young people — especially those who can’t afford college or choose not to pursue post-secondary education — could negatively affect earnings years down the road. Continue Reading
Molly Messick / StateImpact Idaho
Court Hanson, a college and career counselor at Boise High School, says he's worried about the lack of job opportunities for students.
The Associated Press highlights the problem of teen unemployment in piece published today. StateImpact devoted significant time to the issue earlier this year, not long after the Bureau of Labor Statistics released data showing Idaho has one of the highest teen unemployment rates in the nation.
Idaho’s teen unemployment rate was nearly 30 percent in 2011, BLS calculations showed. Andrew Sum of Northeastern University’s Center for Labor Market Studies stresses that Idaho, more than many states, has watched its teen labor force decline in recent years. Continue Reading
Molly Messick / StateImpact Idaho
Idaho Department of Insurance Director Bill Deal advocated for a state-run health insurance exchange at the AP Legislative Preview in January.
Mitt Romney laid out his health care plan this morning, as the Supreme Court nears a decision on the constitutionality of the federal health care law. It’s the first time Romney has discussed the specifics of his proposals since a speech in Michigan last year, the Los Angeles Times says.
The Washington Post sums up Romney’s plan this way:
“Romney said he wants to make the nation’s health-care system more like a consumer market, likening it to the tire, automobile and air-filter markets that he said keep costs down and quality up. To do so, he said, he would allow individuals and small businesses to buy insurance coverage with the same tax advantage that larger businesses enjoy and to purchase insurance across state lines or join organizations to give them bargaining power with insurers.” — The Washington Post Continue Reading
Lam Thuy Vo / Planet Money
Click on the image above to see a larger version of the graph.
The Federal Reserve dropped a sobering statistic on the American public today: 40 percent. That’s the proportion of median net worth families lost from 2007 to 2010. The Wall Street Journal pulls no punches in describing the number’s significance:
“The data released Monday are the real, step-back deal. In 2010, the median net worth of families stood at $77,300, down from $126,400 in 2007. A lot of that big drop is because of the sharp decline in home values across much of the nation.” — The Wall Street Journal
We’ve detailed the decline in Idaho’s median family income and compared it to the national numbers in an earlier post.
Planet Money headlines their piece on the Fed data “A Lost Decade for American Families.” For their short and sweet visualization of the drop in net worth, click here.
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