September 20, 2006

Idaho Shows 4-1/2% Annual Increase In Jobs

Crapo hails economic report released today

Washington, DC â?? A new federal report released today shows that Idaho had the nationâ??s third-largest jump in over-the-year percent increase for payroll employment. The numbers released by the U.S. Department of Labor show Idaho with a 4.4% increase for the year, trailing only Nevada (5.3%) and Arizona (4.6%).â??The Mountain West, and Idaho in particular, remains the strongest area of job growth in the nation,â?? noted Idaho Senator Mike Crapo. â??Our continued economic growth shows the tax relief and our nationâ??s monetary policy are working. Interest rates have held steady and we are working to maintain this pro-growth tax policy and to prevent any tax increases that would lead to a slowing of the economy.â??The Labor Department report offers an August-to-August look at the national economy and job creation. Idahoâ??s unemployment rate of 3.3% continues to rank well-below the national average of 4.7%. Idahoâ??s rate is down nearly half a percentage point in the last year, from 3.7% to 3.3%.â??We are finally seeing the expected seasonal decrease in gasoline prices and the Federal Reserve is holding the line on interest rates for consumers. In the past 12 months, 1.7 million jobs have been created nationwide. While some of our rural areas continue to experience difficulties, I am hopeful this upswing in job creation will continue to spread across Idaho and America,â?? Crapo concluded.# # #