Economy

As it is in many U.S. states, income in Idaho is on an upward trend. Idaho lost ground in per capita personal income from 2009-2011 as it recovered from the Great Recession. But what’s also growing is the gap between personal income in Idaho and in the national as a whole.Data from the Bureau of Economic Analysis show Idahoans earned less in 2012 than residents of almost every other state in the country.A closer look at hourly wages reveals half of Idaho’s workforce earned $14.58 an hour or less in 2012. The hourly wage in Idaho, on average, is $18.48.Idaho also had a larger share of hourly workers earning minimum wage in 2012 than ever before. The Bureau of Labor Statistics estimates 31,000 Idahoans made $7.25 an hour or less in 2012. That’s a 63 percent increase from 2011.

Report: Financial Struggles On Horizon For Idaho Farmers And Ranchers

Boise State Public Radio News | By Glenn Mosley

Published January 29, 2013 at 11:03 AM MST

Idaho farmers and ranchers had a strong year financially in 2012 but this year they could face challenges. That’s according to a new study from economists at the University of Idaho.

The report, from the University of Idaho College of Agricultural and Life Sciences, says that in 2012, projected cash receipts from Idaho crops and livestock set a record of $7.72 billion, up 5 percent, from 2011 projections. Net farm income also rose 5 percent.

Jon Foltz, the UI’s interim dean of agricultural and life sciences, says the report shows the strength of Idaho agriculture, a point he reiterated in testimony before the State Legislature’s budget writers last week.

“All told, in terms of the inputs that come into agriculture, and the outputs that we produce, and the food processing that we have throughout the state, we account for about 20 to 25 percent of the state’s economy.”

As for those challenges in 2013, researchers say, for example, the dairy sector will struggle with high feed costs, and that potato prices will remain below the cost of production.