Northern Idaho is home to the beautiful, thriving community of Coeur d’Alene. Idahoans and out-of-state visitors flock to Coeur d’Alene in all seasons of the year to enjoy its lakes, trails, and resorts.
The Coeur d’Alene area is located several hours away from the state’s capital, but its economic impact on the state is significant.
Coeur d’Alene’s economy was traditionally based on natural resources—specifically, silver mining and logging. In recent decades, however, Coeur d’Alene has diversified employment to offset the shocks that can affect a natural resource dependent economy and bring new opportunities. Major employers in the region now include Kootenai Health (1,825 employees), Coeur d’Alene Tribal Casino (1,400 employees), and Coeur d’Alene School District (1,250 employees). Supporting the area’s resorts, the local tourism industry employs more than 10,000 people in northern Idaho, and tourism accounted for 6.8 percent of the region’s overall payroll in 2010. By 2020, it is estimated that the region’s tourism industry will create an additional 1,560 jobs in amusement, gaming, and recreation.
What draws so many Idahoans and tourists to visit Coeur d’Alene? Part of the answer lies in the natural beauty of nearby lakes and resorts. Lake Coeur d’Alene, Hayden Lake, Fernan Lake, Spirit Lake, and Priest Lake attract people who enjoy water sports, fishing, and lake recreation. Nearby Schweitzer Resort, Silverwood, and Coeur d’Alene Resort provide visitors with unique lodging, dining, and entertainment. Increasing numbers of guests support Coeur d’Alene’s reputation as a resort town, bringing dollars to the state in tourism spending.
Coeur d’Alene may be small and relatively distant geographically from much of the rest of Idaho, but the economic impact of its tourism industry spreads throughout the community into the surrounding areas and the rest of the state. As a thriving resort town, Coeur d’Alene is an economic engine that attracts visitors and creates jobs for thousands of Idahoans.
Idaho’s unemployment rate increased 0.1 point to 3.9% in May, while the national unemployment rate increased 0.1 point to 5.5% in May.
In May, the CoreLogic® Home Price Index (HPI) for Idaho, which measures home price appreciation, experienced a year-over-year increase of 4.7%. Nationally, the HPI increased 6.3% during the same period.
The U.S. Consumer Confidence Index® increased 6.8 points to 101.4 in June. The Present Situation Index increased 4.5 points to 111.6, while the Expectations Index increased 8.4 points to 94.6.
The U.S. Consumer Price Index increased 0.5% from April to May. Year over year, the index remained flat at 0%, which is below the Federal Reserve’s target annual inflation pace of 2%.