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Idaho workers’ earnings have grown faster than most states. But incomes are still relatively low. • Idaho Capital Sun

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Idaho employee earnings and family incomes are growing faster than in most states in the country.

This is according to new estimates from the American Community Survey conducted by the U.S. Census Bureau.

Idaho’s median family income rose 2.7% to more than $91,000 between 2022 and 2023 — the fourth-highest rate of growth among all states, the Idaho Department of Labor announced Friday. press release.

Idaho’s Average Worker earnings also rose 3%, ranking seventh in the nation for growth. But the rapidly rising earnings of Idaho workers The annual wage of $40,098 is still 45th lowest in the country, according to the Department of Labor.

Idaho Gov. Brad Little praised the profit increase as another sign of Idaho’s economic strength.

“The news that Idaho’s earnings growth for workers and families is outpacing that of nearly every other state is welcome news and not at all surprising, as Idaho is experiencing unprecedented economic prosperity,” Little said in a statement. press release“Our success comes from the ingenuity of our businesses, our strong families, good government and our relentless focus on keeping taxes low and supporting businesses.”

Idaho’s wage growth was concentrated in Boise. But Idaho Falls also saw big gains.

Like the recent wage increases in IdahoRecent income growth in Idaho has been concentrated in and around the state capital of Boise, according to census estimates analyzed by the Idaho Department of Labor.

In the Boise Metropolitan Statistical Area, or MSA, median family income rose 4.2% to about $100,000 a year, the Labor Department said. Family income in Idaho Falls rose 11.3% to more than $95,000 a year.

The Labor Department reported no significant changes in Idaho’s four remaining statistical areas.

“Idaho has a very healthy economy overall, and the Boise MSA in particular is in very, very good shape,” Jan Roeser, a labor economist with the Idaho Regional Labor Department, told the Idaho Capital Sun.

However, Idaho’s median household income — 25th in the nation at nearly $75,000 a year — did not change significantly, the Labor Department said.

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How the revenues of other states grew

Montana was the only other Western state with the fastest-growing median family income. Idaho’s pace of growth was just behind the District of Columbia, where family income rose 3.1% to more than $157,000 for a year — an increase of almost $5,000 compared to 2022.

While Idaho’s median worker earnings were 45th in the nation, neighboring Utah was 26th at nearly $42,400 per year. Utah’s earnings fell 0.62%, ranking 30th in terms of growth.

“All the states around us have a fundamentally different wage structure than Idaho. But we’re growing. And I think the fact that we’re growing so quickly is really encouraging,” Roeser said.

Although Idaho’s unemployment rate is low slightly raised She recently said part of that is “absorbing the civilian workforce,” such as job searches by recent high school graduates and spouses of new couples moving to Idaho.

A Closer Look at Median Household Income

Understanding revenue growth is complicated.

Between 2022 and 2023, Idaho’s median household income — a typical barometer of income — fell $845 to $74,942. But because census income data is adjusted for inflation, that mostly means Idaho’s purchasing power has changed, not necessarily that income has fallen, Roeser said.

But the data shows Idaho’s income is rising over time. Idaho ranked 25th in the nation for median household income in 2023, up from 23rd in 2022, 29th in 2021 and 32nd in 2019.

It’s not immediately clear how median income has changed across Idaho’s metropolitan areas. For all of Idaho’s metropolitan areas, the census found that median household income data was not statistically significant.

This means that according to the US Census Bureau estimates, there were at least 90% confidence intervalAmerican Community Survey estimates are based on survey data. sample of residentswhich would represent less than 13,000 Idaho residents in 2023. This is comparable to a full census conducted once every ten years.

Only major population centers, called Metropolitan Statistical Areas, were included in the estimates. Together, these areas are home to 437,384 Idaho families, census data estimates.