Revealing Idaho’s Secret Devastating Recession

Idaho has always been able to withstand challenging economic forces that have harmed other states. The Gem State's diversity of industry, agriculture, tech, medical, and others have helped keep the state rolling when others have suffered recessions. 

The state and the country voted overwhelmingly to throw out Bidenomics for a return to the Trump economy benefitting so many. President Biden's energy policies spiked the cost of fuel, leading to massive inflation that rivaled the Jimmy Carter Era.

Idahoans were not immune to the economic struggles as everyone paid more for necessary goods such as energy and fuel. The state saw several iconic businesses go out of business because they couldn't afford to stay in the game.

Idaho's once-hot real estate market cooled thanks to Joe Biden's interest rate rise from two percent to seven percent. Higher interest rates on homes meant more Idahoans couldn't afford to buy a new home or sell their old one.

Once affordable restaurants closed their doors because they couldn't effectively manage the higher food and labor costs. The price of affordable housing continues to decline despite the building of more and more high-density housing units such as apartments and condominiums.

Several folks continue to work more hours for less income, taking side gigs at night such as Uber Eats, DoorDash, or Grub Hub. Idahoans, usually generous with their money, have become stingy with their tips.

Idahoans are employed but working more to maintain their lifestyles. In a recent release, the Boise Regional Realtors detailed last month's unemployment figures.

Ada County 3.6%

Canyon County 4.1%

Elmore County 3.8%

Gem County 4.5%

Before Joe Biden became president, Idaho's unemployment rate was well below those current figures. Although our politicians haven't declared it yet, the state is on thin ice economically.

Take a look at the lists below detailing home businesses have been lost in Boise and Idaho this year.