Western Treasure Valley Economic Breakfast Economic Overview March 17, 2016

Western Treasure Valley Economic Breakfast Economic Overview March 17, 2016

Utah is One of the Fastest Growing CA 0.9% States in the Country Percent Change in Population for States: 2012 to 2013 WA 1.1% OR 0.8% NV 1.3% AK 0.7% ID 1.0% National U.S. Rate = 0.7% VT ND Economic MT 3.1% MN 1.0% 0.8% SD WI 1.3% 0.3% MI WY PA 1.0% IA NE 0.5% OH 0.7% IL IN 0.2% UT Conditions 0.5% WV 1.6% VA CO MO KY - KS 0.9% 1.5% 0.3% 0.4% 0.3% NC 1.0% TN 0.6% AZ OK SC AR NM 1.2% 0.9% 1.1% 0.3% MS AL GA 0.2% 0.3% 0.8% HI 1.0% TX 1.5% LA 0.5% 1.15% or more.075% to 1.10% 0.5% to 0.9% 0% to 0.4% Population Loss FL 1.2% NH NY 0.4% ME -0.01% DC 2.1% CT DE 0.9% MD 0.7% MA 0.7% RI NJ 0.4% Source: U.S Census Bureau

Utah is One of the Fastest Growing CA 0.9% States in the Country A period of increasing Percent Change in Population for States: 2012 to 2013 U.S. Rate = 0.7% WA 1.1% OR 0.8% NV 1.3% NH interest rates?... VT ND MT 3.1% MN 1.0% 0.8% NY 0.4% ID 1.0% WY 1.0% SD 1.3% NE OH 0.7% IL IN 0.2% UT 0.5% WV 1.6% VA CO MO KY - KS 0.9% 1.5% 0.3% 0.4% It s up 0.3% to the Fed NC 1.0% TN 0.6% AZ OK SC AR NM 1.2% 0.9% 1.1% DC 0.3% 2.1% AK 0.7% HI 1.0% TX 1.5% IA 0.5% WI 0.3% LA 0.5% MS 0.2% MI AL 0.3% 1.15% or more.075% to 1.10% 0.5% to 0.9% 0% to 0.4% Population Loss GA 0.8% PA FL 1.2% ME -0.01% CT DE 0.9% MD 0.7% MA 0.7% RI NJ 0.4% Source: U.S Census Bureau

Payroll Change 000 s National Job Growth Improving 500 300 8.7 Million Jobs Lost 100-100 -300-500 13 Million Jobs Recovered -700-900 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Source: Bureau of Labor Statistics

Monthly Change in Employment by Industry Total Change in Number of Jobs by Industry: Jan 2016 to Feb 2016 Industry Sector Monthly Jobs Added/Lost Natural Resources/Mining -18,000 Construction 19,000 Manufacturing -16,000 Trade, Transportation, Utilities 53,000 Information 12,000 Financial Activity 6,000 Professional & Business 23,000 Education & Health Services 86,000 Leisure & Hospitality 48,000 Other Services 17,000 Government 12,000 TOTAL 242,000 Source: Bureau of Labor Statistics; seasonally adjusted

National Employment Change Percent Change in National Employment by Industry: Feb 2015 to Feb 2016 Ntl. Res. & Mining Construction -16.1% Total: 1.9% 4.0% Manufacturing Trade, Trans., Utilities Information Financial Activity Prof. & Bus. Serv. Ed. & Health Serv. Leisure & Hospitality Other Services Government 1.8% 1.5% 1.8% 3.1% 3.2% 3.0% 1.2% 0.3% -20% -15% -10% -5% 0% 5% 10% Source: Bureau of Labor Statistics; seasonally adjusted

National Employment Change Total Change in Number of Jobs by Industry in Thousands: Feb 2015 to Feb 2016 Ntl. Res. & Mining -141 Construction 253 Manufacturing 12 Trade, Trans., Utilities 470 Information 41 Financial Activity 142 Prof. & Bus. Serv. 610 Ed. & Health Serv. 698 Leisure & Hospitality 446 Other Services Government 66 75-200 -100 0 100 200 300 400 500 600 700 Source: Bureau of Labor Statistics; seasonally adjusted

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 U.S. Unemployment Rates Dropping 11.0 10.0 9.0 8.0 7.0 6.0 5.0 4.0 4.9% in Feb 3.0 Sources: U.S. Bureau of Labor Statistics

Source: U.S. Bureau of Labor Statistics Note: Growth rate calculated using real chained 1982-1984 dollars U.S. Wage Growth Steady 4.0% 3.5% 2007-2015 Average 2.4% 3.0% 2.5% 2.0% 1.5% 1.0% 2007 2008 2009 2010 2011 2012 2013 2014 2015

Contribution to GDP Growth Consumption Drives Growth 5% Total GDP Growth 3% 1% -1% -3% -5% Fixed Investment Inventories Net Exports Government Personal Consumption 2012 2013 2014 4Q GDP 1.0% 2015 Source: Bureau of Economic Analysis

Apr 2012 Jul 2012 Oct 2012 Jan 2013 Apr 2013 Jul 2013 Oct 2013 Jan 2014 Apr 2014 Jul 2014 Oct 2014 Jan 2015 Apr 2015 Jul 2015 Oct 2015 Jan 2016 Consumer Confidence Only Slightly Higher than One Year Ago 120.0 Above 110 indicates economic prosperity 110.0 100.0 90.0 80.0 70.0 60.0 50.0 Source: U.S. CCI from The Conference Board

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Percent Growth in Consumer Spending Remains Low 5.0 Personal Consumption Expenditure Yearly Percent Change 4.0 3.0 2.0 1.0 0.0-1.0-2.0 Source: Bureau of Economic Analysis

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Underemployment Remains Stubbornly High 18.0 16.0 14.0 12.0 10.0 8.0 6.0 4.0 2.0 U-6 (Underemployed) U-3 (Unemployment) Source: Bureau of Labor Statistics

1950 Source: U.S. Bureau of Labor Statistics Note: Seasonally adjusted 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 Labor Force Participation Rate % 68 Among Lowest in Over 35 Years Mar 2000 67.3% 66 64 62 60 Feb 1978 62.8% Feb 2016 62.9% 58 56

2011 2012 2013 2014 2015 2016 Percent Producer Price Index 5.0 4.0 3.0 2.0 1.0 0.0-1.0-2.0 Year-to-Year Change Source: U.S. Bureau of Labor Statistics; seasonally adjusted

Aug 2011 Nov 2011 Feb 2012 May 2012 Aug 2012 Nov 2012 Feb 2013 May 2013 Aug 2013 Nov 2013 Feb 2014 May 2014 Aug 2014 Nov 2014 Feb 2015 May 2015 Aug 2015 Nov 2015 Feb 2016 CPI Inflation Increasing 4.5% U.S. Consumer Price Index Yearly Change Rate 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% -0.5% Source: Bureau of Labor Statistics

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Percent U.S. Core CPI vs Core PCE 3.5 Yearly Change Rate 3.0 2.5 2.0 1.5 1.0 0.5 0.0 U.S. Core CPI U.S. Core PCE Sources: Bureau of Labor Statistics and Bureau of Economic Analysis; Core CPI and Core PCE represent all items less food and energy

Thousands Cumulative Job Loss by Months of Recession Source: Euler Hermes analysis of Bureau of Labor Statistics Data

Thousands Cumulative Job Loss by Months of Recession Source: Euler Hermes analysis of Bureau of Labor Statistics Data

Thousands Cumulative Job Loss by Months of Recession Source: Euler Hermes analysis of Bureau of Labor Statistics Data

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 USD Euro compared to U.S. Dollar $1.60 $1.50 $1.40 $1.39 $1.30 $1.20 $1.10 $1.00 PARITY $1.05 $0.90 $0.80 Source: Investing.com

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 US Dollar Compared to Chinese Yuan Inverted Scale $6.00 $6.50 $7.00 $7.50 $8.00 $8.50 2008 China stops the yuan s rise 2001 China joins WTO 2005 China allows the yuan to rise 2010 China allows the yuan to rise Aug 2015 China devalues the yuan by largest amount in 20 years Source: Federal Reserve Bank of St Louis

The World s Devaluing Currencies Compared to the USD November 2014-November 2015 Source: CNNMoney s reporting of data from Factset Note: 12-month change ending November 10, 2015

Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 $ Per Barrel $120.00 $110.00 Oil Prices Hit Lowest Point in Over a Decade $108 $100.00 $90.00 $80.00 $70.00 $60.00 $50.00 $40.00 $30.00 $20.00 $26 Sources: Pre-2016 data from U.S. Energy Information Administration; Post-2016 from Investing.com

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 $ Per Barrel 160.00 Oil Prices Hit Lowest Point in Over a Decade 140.00 120.00 $108 100.00 80.00 60.00 40.00 20.00 $26 0.00 Source: U.S. Energy Information Administration; weekly averages

2007 Source: Baker Hughes Note: Total count includes oil and gas rigs 2008 2009 2010 2011 2012 2013 2014 2015 2016 2,200 Total U.S. Rig Count Down Significantly 2,000 1,800 1,931 1,600 1,400 1,200 1,000 800 600 400 480

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Fed Fund Rate, Inflation, and Unemployment 7.0 6.0 5.0 4.0 3.0 2.0 1.0 Effective Fed Rate 12-month change in PCE price index Unemployment Rate (right axis) 12.0 10.0 8.0 6.0 4.0 0.0-1.0-2.0 First Fed rate increase since 2006 2.0 0.0 Sources: U.S. Federal Reserve, Bureau of Economic Analysis, U.S. Bureau of Labor Statistics Note: PCE is total personal consumption expenditures

Percent Federal Funds Rate Forecast (December 2015) 5 4 3 2 1 0 2015 2016 2017 2018 Source: American Bankers Association Analysis of Data from the Federal Reserve

Percent Federal Funds Rate Forecast (March 2016) 5 4 3 2 1 0 2016 2017 2018 2019 Source: American Bankers Association Analysis of Data from the Federal Reserve

Utah is One of the Fastest Growing States in the Country Percent Change in Population for States: 2012 to 2013 U.S. Rate = 0.7% NH Local Economic WA ME 1.1% VT -0.01% ND MT 3.1% MN 1.0% OR 0.8% NY 0.8% ID SD WI 0.4% CA 0.9% NV 1.3% AK 0.7% 1.0% WY PA 1.0% IA Conditions NE 0.5% OH 0.7% IL IN 0.2% UT 0.5% WV 1.6% VA CO MO KY - KS 0.9% 1.5% 0.3% 0.4% 0.3% NC 1.0% AZ 1.2% HI 1.0% NM 1.3% TX 1.5% OK 0.9% AR 0.3% 0.3% LA 0.5% MS 0.2% MI TN 0.6% AL 0.3% 1.15% or more.075% to 1.10% 0.5% to 0.9% 0% to 0.4% Population Loss SC 1.1% GA 0.8% FL 1.2% DC 2.1% CT DE 0.9% MD 0.7% MA 0.7% RI NJ 0.4% Source: U.S Census Bureau

Idaho Population Growth 11 th Fastest in U.S. CA 0.9% OR 1.5% WA 1.5% NV 1.9% ID 1.2% AK 0.2% UT 1.7% AZ 1.5% MT 0.9% WY 0.3% CO 1.9% NM 0.0% HI 0.8% Percent Change: 2014 to 2015 U.S. Rate = 0.8% ND 2.3% SD 0.6% NE 0.7% TX 1.8% KS 0.3% OK 0.8% MN 0.6% IA 0.5% MO 0.3% AR 0.4% WI 0.2% LA 0.5% IL -0.2% MS 0.0% MI IN 0.3% TN 0.8% AL 0.3% 1.5% or more OH KY 0.3% 0.8% to 1.4% (at or above U.S. rate) 0.3% to 0.7% 0.0% to 0.2% Population Loss WV -0.3% VT - PA NC 1.0% SC 1.4% GA 1.2% VA 0.7% FL 1.8% NH 0.2% NY 0.2% ME - DC 1.9% CT - DE 1.1% MD 0.5% MA 0.6% RI NJ 0.2% Source: U.S Census Bureau

Oregon Population Growth 9 th in the Nation CA 0.9% OR 1.5% WA 1.5% NV 1.9% ID 1.2% AK 0.2% UT 1.7% AZ 1.5% MT 0.9% WY 0.3% CO 1.9% NM 0.0% HI 0.8% Percent Change: 2014 to 2015 U.S. Rate = 0.8% ND 2.3% SD 0.6% NE 0.7% TX 1.8% KS 0.3% OK 0.8% MN 0.6% IA 0.5% MO 0.3% AR 0.4% WI 0.2% LA 0.5% IL -0.2% MS 0.0% MI IN 0.3% TN 0.8% AL 0.3% 1.5% or more OH KY 0.3% 0.8% to 1.4% (at or above U.S. rate) 0.3% to 0.7% 0.0% to 0.2% Population Loss WV -0.3% VT - PA NC 1.0% SC 1.4% GA 1.2% VA 0.7% FL 1.8% NH 0.2% NY 0.2% ME - DC 1.9% CT - DE 1.1% MD 0.5% MA 0.6% RI NJ 0.2% Source: U.S Census Bureau

Idaho Population Growth Rates By County 2013 to 2014 State Average = 1.3% Boundary 1.0% Bonner 2.2% Kootenai 2.1% Benewah 0.8% Latah 0.5% Nez Perce 0.2% Lewis 0.3% Shoshone -2.3% Clearwater -0.5% Idaho Increase of 1.4% or Greater Adams 0.8% Valley 2.5% Lemhi 0.0% Increase of 0.9% to 1.3% Increase of 0.4% to 0.8% Increase of 0.0% to 0.3% Population Loss Washington 0.7% Clark Custer 0.7% -2.2% Payette 1.1% Gem 1.0% Canyon 2.1% Ada 2.3% Owyhee -0.6% Boise 1.2% Elmore -0.2% Camas 0.0% Gooding -0.2% Twin Falls 1.3% Blaine 0.8% Lincoln 0.2% Jerome 0.9% Minidoka Cassia 0.8% Butte -0.2% Power -1.0% Jefferson 0.6% Bingham -0.3% Bannock 0.0% Oneida -2.0% Fremont -0.3% Madison Teton 1.2% 0.4% Bonneville 1.0% Caribou Bear Lake Franklin 0.3% 1.3% Source: U.S. Census Bureau

1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Total Population Idaho Population and Components of Change 1,800,000 1,654,930 60,000 1,600,000 50,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 9,097 10,925 40,000 30,000 20,000 10,000 0-10,000 Components of Population Change 0-20,000 Net Migration Natural Increase Total Population Source: Zions Bank analysis of U.S. Census Bureau data

CA 2.8% OR 3.4% WA 3.0% NV 2.7% Note: Seasonally Adjusted Source: Bureau of Labor Statistics Idaho Employment Growth AK -0.5% ID 3.9% UT 3.0% AZ 2.9% Highest in the Nation Percent Change in Employment for States: Jan 2015 to Jan 2016 U.S. Rate = 1.9% MT 0.9% WY -3.0% HI 1.8% CO 2.7% NM 0.2% ND -4.5% SD 1.1% NE 1.5% KS TX 1.6% OK -0.6% MN 1.1% IA 1.5% MO 0.5% AR 1.9% WI 0.9% LA -0.8% IL 0.8% MS 1.3% MI 2.1% IN 1.5% TN 3.4% AL 0.8% OH 1.5% KY 1.4% GA 2.8% WV -1.6% VT 1.2% PA 0.6% NC 2.5% SC 2.2% 2.8% or more (above the U.S. rate) 1.9% to 2.7% 1.0% to 1.5% 0.0% to 0.9% Loss VA 2.3% FL 3.3% NH 1.2% NY 1.3% ME 0.8% DC 1.3% CT 0.6% DE 2.8% MD 1.7% MA 1.4% RI 0.7% NJ 1.8%

CA 2.8% OR 3.4% WA 3.0% Note: Seasonally Adjusted Source: Bureau of Labor Statistics Oregon Employment Growth NV 2.7% AK -0.5% ID 3.9% UT 3.0% AZ 2.9% 2 nd Highest in Nation Percent Change in Employment for States: Jan 2015 to Jan 2016 U.S. Rate = 1.9% MT 0.9% WY -3.0% HI 1.8% CO 2.7% NM 0.2% ND -4.5% SD 1.1% NE 1.5% KS TX 1.6% OK -0.6% MN 1.1% IA 1.5% MO 0.5% AR 1.9% WI 0.9% LA -0.8% IL 0.8% MS 1.3% MI 2.1% IN 1.5% TN 3.4% AL 0.8% OH 1.5% KY 1.4% GA 2.8% WV -1.6% VT 1.2% PA 0.6% NC 2.5% SC 2.2% 2.8% or more (above the U.S. rate) 1.9% to 2.7% 1.0% to 1.5% 0.0% to 0.9% Loss VA 2.3% FL 3.3% NH 1.2% NY 1.3% ME 0.8% DC 1.3% CT 0.6% DE 2.8% MD 1.7% MA 1.4% RI 0.7% NJ 1.8%

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Thousands of Employees Idaho Employment at New Highs 800 Gain of 92,000 jobs since low in 2010 700 600 500 Loss of 59,000 jobs from 2007-2010 400 Total Nonfarm Employment Source: U.S. Bureau of Labor Statistics, Total nonfarm seasonally adjusted Note: Numbers rounded to nearest thousand

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Thousands of Employees Oregon Employment at New Highs 1900 1800 Gain of 223,000 jobs since low in 2010 1700 1600 1500 1400 Loss of 147,000 jobs from 2008-2010 1300 Total Nonfarm Employment Source: U.S. Bureau of Labor Statistics, Total nonfarm seasonally adjusted Note: Numbers rounded to nearest thousand

Idaho Employment Gains and Losses Percent Change in Idaho Employment by Industry: Jan 2015 Jan 2016 Ntl. Res. & Mining -7.9% Total: 3.9% Construction 5.1% Manufacturing Trade, Trans., Utilities 3.1% 3.5% Information -1.1% Financial Activity Prof. & Bus. Serv. 3.9% 3.3% Ed. & Health Serv. 5.5% Leisure & Hospitality 7.3% Other Services 4.3% Government 2.5% -10% -8% -6% -4% -2% 0% 2% 4% 6% 8% 10% Sources: Bureau of Labor Statistics and Idaho Department of Labor, Total Nonfarm Seasonally Adjusted

Idaho Industries Seeing Growth Total Change in Idaho Employment by Industry: Jan 2015 Jan 2016 Ntl. Res. & Mining -300 Total: 26,200 Construction Manufacturing 1,900 1,900 Trade, Trans., Utilities 4,700 Information -100 Financial Activity 1,300 Prof. & Bus. Serv. 2,700 Ed. & Health Serv. Leisure & Hospitality 4,900 5,200 Other Services 1,000 Government 3,000-1,000 0 1,000 2,000 3,000 4,000 5,000 6,000 Source: Idaho Department of Labor, Total Nonfarm Seasonally Adjusted

Oregon Employment Gains and Losses Percent Change in Idaho Employment by Industry: Jan 2015 Jan 2016 Ntl. Res. & Mining 0.0% Total: 3.4% Construction 5.0% Manufacturing 3.2% Trade, Trans., Utilities 1.3% Information 7.8% Financial Activity 3.3% Prof. & Bus. Serv. Ed. & Health Serv. Leisure & Hospitality 4.6% 4.6% 4.9% Other Services 3.5% Government 2.1% 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% Sources: Bureau of Labor Statistics and Idaho Department of Labor, Total Nonfarm Seasonally Adjusted

Oregon Industries Seeing Growth Total Change in Idaho Employment by Industry: Jan 2015 Jan 2016 Ntl. Res. & Mining 0 Total: 59,600 Construction 4,100 Manufacturing 5,900 Trade, Trans., Utilities 4,200 Information Financial Activity 2,500 3,100 Prof. & Bus. Serv. Ed. & Health Serv. 11,000 11,700 Leisure & Hospitality 8,700 Other Services 2,100 Government 6,200 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 Source: Idaho Department of Labor, Total Nonfarm Seasonally Adjusted

Source: Idaho Department of Labor, Seasonally Adjusted Total Nonfarm Employment Idaho Employment Change Rates By County Dec 2014 to Dec 2015 State Rate = 4.4% 10.0% or more 4.4% to 9.9% 2.0% to 4.3% 0.0% to 1.9% Loss Washington Boundary 15.1% Bonner -1.3% Kootenai 5.5% Benewah 5.5% Latah 10.5% Nez Perce 14.5% Lewis -5.0% Adams -3.3% Clearwater 1.4% Idaho -7.1% Valley 6.5% -2.6% Custer Clark -7.6% -15.1% Payette Gem 9.0% 13.6% Canyon 7.0% Ada 7.5% Owyhee 15.5% Shoshone -12.8% Boise -1.8% Elmore 4.2% Camas 20.9% Gooding -7.4% Twin Falls 4.2% Lemhi 0.4% Blaine -2.6% Lincoln 8.0% Jerome 12.3% Minidoka 4.9% Cassia 1.2% Butte 7.4% Power 19.9% Jefferson 9.9% Bingham -2.0% Oneida -8.9% Bannock 22.0% Fremont 26.2% Madison Teton 20.9% 8.5% Bonneville 3.7% Caribou -1.9% Bear Lake Franklin -13.5% 10.4%

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Thousands of Employees Wyoming Employment Still Not Fully Recovered from Recession Loss 320 300 Gain of 7,000 jobs from low in 2009 280 260 240 Loss of 20,000 jobs from 2008-2009 220 200 Total Nonfarm Employment Source: U.S. Bureau of Labor Statistics, Total nonfarm seasonally adjusted Note: Numbers rounded to nearest thousand

WY Industries - Employment Gains Percent Change in Wyoming Employment by Industry: January 2015 to January 2016 Ntl. Res. & Mining -20.2% Construction Manufacturing Trade, Trans., Utilities Information Financial Activity Prof. & Bus. Serv. -5.1% -3.0% -1.6% -2.6% -3.5% -1.6% Ed. & Health Serv. 2.6% Leisure & Hospitality -3.6% Other Services Government Total: -3.0% -2.9% 1.3% -25% -20% -15% -10% -5% 0% 5% Source: Bureau of Labor Statistics Note: Seasonally Adjusted

WY Industries Seeing Growth Total Change in Wyoming Employment by Industry: January 2015 to January 2016 Ntl. Res. & Mining-5,500 Construction -1,200 Manufacturing -300 Trade, Trans., Utilities -900 Information Financial Activity Prof. & Bus. Serv. -400-100 -300 Ed. & Health Serv. 700 Leisure & Hospitality -1,300 Other Services Government Total: -8,700-300 900-6,000-5,000-4,000-3,000-2,000-1,000 0 1,000 2,000 Source: Bureau of Labor Statistics Note: Seasonally Adjusted

Wyoming Employment Change Rates By County January 2015 to January 2016 State Rate = -2.8% 3.0% or more 2.0% to 2.9% 1.0% to 1.9% Teton 0.7% Lincoln -0.4% Uinta -7.4% Park Sublette -8.1% Fremont -3.0% Sweetwater -5.8% Big Horn -2.4% Washakie -1.2% Hot Springs -3.1% Sheridan -0.8% Campbell -6.8% Crook -2.6% Johnson -5.1% Weston -2.3% Natrona -7.8% Converse -3.6% Carbon 5.8% Albany 3.7% Platte 1.5% Niobrara -4.3% Goshen 0.2% Laramie -0.7% 0.0 to 0.9% Loss Source: Wyoming Department of Workforce Services Note: Not seasonally adjusted

Idaho Among the Lowest Unemployment OR 5.1% CA 5.7% WA 5.8% NV 6.2% ID 3.9% UT 3.4% AZ 5.6% MT 4.1% Rates in the Country January 2016 U.S. Rate = 4.9% WY 4.7% CO 3.2% NM 6.5% ND 2.8% SD 2.8% NE 3.0% KS 4.0% OK 4.1% MN 3.7% IA 3.5% MO 4.3% AR 4.4% WI 4.6% IL 6.3% MS 6.7% MI 4.9% IN 4.6% TN 5.4% AL 6.2% OH 4.9% KY 5.8% GA 5.4% WV 6.3% VT 3.4% PA 4.6% NC 5.6% SC 5.5% VA 4.1% NH 2.9% NY 4.9% ME 3.8% DC 6.5% CT 5.5% DE 4.7% MD 4.9% MA 4.7% RI 5.3% NJ 4.5% AK 6.6% TX 4.5% LA 5.9% 3.9% or less 4.0% to 4.7% FL 5.0% Note: Seasonally Adjusted Source: Bureau of Labor Statistics HI 3.2% 4.9% to 5.5% (at or above the U.S. rate) 5.6% to 5.9% 6.0% or more

OR 5.1% CA 5.7% WA 5.8% NV 6.2% ID 3.9% Oregon Unemployment Slightly Higher than Nation UT 3.4% AZ 5.6% MT 4.1% WY 4.7% CO 3.2% NM 6.5% January 2016 U.S. Rate = 4.9% ND 2.8% SD 2.8% NE 3.0% KS 4.0% OK 4.1% MN 3.7% IA 3.5% MO 4.3% AR 4.4% WI 4.6% IL 6.3% MS 6.7% MI 4.9% IN 4.6% TN 5.4% AL 6.2% OH 4.9% KY 5.8% GA 5.4% WV 6.3% VT 3.4% PA 4.6% NC 5.6% SC 5.5% VA 4.1% NH 2.9% NY 4.9% ME 3.8% DC 6.5% CT 5.5% DE 4.7% MD 4.9% MA 4.7% RI 5.3% NJ 4.5% AK 6.6% TX 4.5% LA 5.9% 3.9% or less 4.0% to 4.7% FL 5.0% Note: Seasonally Adjusted Source: Bureau of Labor Statistics HI 3.2% 4.9% to 5.5% (at or above the U.S. rate) 5.6% to 5.9% 6.0% or more

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Idaho vs. U.S. Unemployment Rates 10.0 8.0 6.0 4.0 2.0 0.0 U.S. Idaho Sources: U.S. Bureau of Labor Statistics

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Oregon vs. U.S. Unemployment Rates 12.0 10.0 8.0 6.0 4.0 2.0 0.0 U.S. Oregon Sources: U.S. Bureau of Labor Statistics

Idaho Unemployment Rates By County December 2015 State Rate = 3.9% Boundary 6.0% Bonner 5.9% Kootenai 4.8% Benewah 6.8% Latah 3.6% Nez Perce 3.3% Lewis 6.4% Shoshone 8.5% Clearwater 8.4% Idaho 5.2% 3.4% or lower Adams 7.8% Valley 5.7% Lemhi 5.9% 3.5% to 3.9% 4.0% to 4.9% 5.0% to 5.9% 6.0% or greater Washington 5.4% Clark Custer 4.0% 5.4% Payette 4.9% Canyon 4.7% Gem 4.7% Ada 3.2% Owyhee 5.0% Boise 5.9% Elmore 4.5% Camas 4.8% Gooding 3.2% Twin Falls 3.5% Blaine 3.3% Lincoln 5.1% Jerome 3.3% Cassia 3.4% Butte 4.9% Minidoka 3.4% Power 3.9% Jefferson 3.1% Bingham 4.0% Bannock 3.6% Oneida 4.2% Fremont 3.7% Madison Teton 2.6% 3.4% Bonneville 3.2% Caribou 5.4% Bear Lake Franklin 5.8% 4.4% Source: Idaho Department of Labor

Idaho Personal Income Growth Slightly Lower than Nation OR 5.7% CA 6.5% WA 5.9% NV 5.9% AK 4.7% ID 4.2% Source: Bureau of Economic Analysis Percent Change in Personal Income : Q3 2014 Q3 2015 U.S. = 4.6%; ID = 4.2% UT 6.3% AZ 5.2% MT 4.6% WY 1.4% HI 4.8% CO 5.3% NM 3.3% ND -2.4% SD 1.4% NE 2.8% KS 3.6% TX 3.9% OK 2.0% MN 3.7% IA 1.3% MO 3.6% AR 4.5% WI 3.7% LA 2.6% IL 4.0% MI 4.6% IN 4.6% TN 4.9% MS 3.3% AL 3.9% 5.0% or more OH 3.5% KY 5.0% GA 5.2% WV 2.3% VT 3.0% PA 3.6% NC 5.3% SC 5.1% VA 4.6% FL 5.4% NH 4.9% NY 4.6% 4.6% to 4.9% (at or above the U.S. rate) 3.0% to 4.5% 0.0% to 2.9% Decrease ME 3.9% DC 4.8% CT 4.1% DE 4.5% MD 4.4% MA 5.2% RI 4.6% NJ 4.4%

Oregon Personal Income Growth 5 th Highest in Nation OR 5.7% CA 6.5% WA 5.9% NV 5.9% AK 4.7% ID 4.2% Source: Bureau of Economic Analysis Percent Change in Personal Income : Q3 2014 Q3 2015 U.S. = 4.6%; WY = 1.4% UT 6.3% AZ 5.2% MT 4.6% WY 1.4% HI 4.8% CO 5.3% NM 3.3% ND -2.4% SD 1.4% NE 2.8% KS 3.6% TX 3.9% OK 2.0% MN 3.7% IA 1.3% MO 3.6% AR 4.5% WI 3.7% LA 2.6% IL 4.0% MI 4.6% IN 4.6% TN 4.9% MS 3.3% AL 3.9% 5.0% or more OH 3.5% KY 5.0% GA 5.2% WV 2.3% VT 3.0% PA 3.6% NC 5.3% SC 5.1% VA 4.6% FL 5.4% NH 4.9% NY 4.6% 4.6% to 4.9% (at or above the U.S. rate) 3.0% to 4.5% 0.0% to 2.9% Decrease ME 3.9% DC 4.8% CT 4.1% DE 4.5% MD 4.4% MA 5.2% RI 4.6% NJ 4.4%

Idaho Median Household Income Slightly Below National Rate OR $58,875 CA $60,487 WA $59,068 NV $49,875 ID $53,438 AK $67,629 UT $63,383 AZ $49,254 2014 U.S. Rate = $53,657, 2014 Idaho Rate = $53,438 MT $51,102 WY $55,690 CO $60,940 NM $46,686 ND $60,730 SD $53,053 NE $56,870 KS $53,444 TX $53,875 OK $47,199 MN $67,244 IA $57,810 MO $56,630 WI $58,080 OH IL IN $49,644 $54,916 WV $48,060 VA $39,552 KY $66,155 $42,786 NC LA $42,406 MI $52,005 TN $43,716 AR $44,922 MS AL $35,521$42,278 $60,000 or more $53,658 to $59,999 GA $49,555 VT $60,708 NY $54,310 PA $55,173 $46,784 SC $44,929 FL $46,140 NH $73,397 ME $51,710 DC $68,277 CT $70,161 DE $57,522 MD $76,165 MA $63,151 RI $58,633 NJ $65,243 HI $71,223 Source: U.S. Census Bureau, 2013 Current Population Survey $50,000 to $53,657 (at or below the U.S. Rate) $40,000 to $49,999 $39,999 or less

Oregon Median Household Income Higher than National Rate OR $58,875 CA $60,487 WA $59,068 NV $49,875 ID $53,438 AK $67,629 2014 U.S. Rate = $53,657, 2014 Oregon Rate = $58,875 UT $63,383 AZ $49,254 MT $51,102 WY $55,690 CO $60,940 NM $46,686 ND $60,730 SD $53,053 NE $56,870 KS $53,444 TX $53,875 OK $47,199 MN $67,244 IA $57,810 MO $56,630 WI $58,080 OH IL IN $49,644 $54,916 WV $48,060 VA $39,552 KY $66,155 $42,786 NC LA $42,406 MI $52,005 TN $43,716 AR $44,922 MS AL $35,521$42,278 $60,000 or more $53,658 to $59,999 GA $49,555 VT $60,708 NY $54,310 PA $55,173 $46,784 SC $44,929 FL $46,140 NH $73,397 ME $51,710 DC $68,277 CT $70,161 DE $57,522 MD $76,165 MA $63,151 RI $58,633 NJ $65,243 HI $71,223 Source: U.S. Census Bureau, 2013 Current Population Survey $50,000 to $53,657 (at or below the U.S. Rate) $40,000 to $49,999 $39,999 or less

Aug 2011 Dec 2011 Apr 2012 Aug 2012 Dec 2012 Apr 2013 Aug 2013 Dec 2013 Apr 2014 Aug 2014 Dec 2014 Apr 2015 Aug 2015 Dec 2015 Consumer Price Index Wasatch Front vs. United States 4.5% 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% -0.5% -1.0% Year Over Year Change United States CPI Zions Bank Wasatch Front CPI Source: U.S. CPI from National Bureau of Labor Statistics and Wasatch Front CPI from Cicero Group

Apr 2012 Jul 2012 Oct 2012 Jan 2013 Apr 2013 Jul 2013 Oct 2013 Jan 2014 Apr 2014 Jul 2014 Oct 2014 Jan 2015 Apr 2015 Jul 2015 Oct 2015 Jan 2016 US Consumer Confidence Index vs. UT Consumer Attitude Index 120.0 Above 110 indicates economic prosperity 110.0 100.0 90.0 80.0 70.0 60.0 Zions Bank Utah Consumer Attitude Index United States Consumer Confidence Index 50.0 Source: U.S. CCI from The Conference Board and Utah CAI from Cicero Group

Idaho Poverty Rate Lower than National Average CA 15.8% WA 12.0% OR 14.4% NV 17.0% ID 12.4% UT 10.2% AZ 21.2% 2014 U.S. Rate = 14.8%, 2014 Idaho Rate = 12.4% MT 12.0% WY 9.7% CO 12.3% NM 20.0% ND 9.7% SD 12.8% NE 11.8% KS 12.1% OK 17.3% MN 8.3% IA 10.3% MO 10.4% AR 18.4% WI 10.9% IL 13.7% MS 22.1% MI 14.8% IN 14.6% TN 18.2% AL 17.8% OH 15.6% KY 20.0% VT 9.3% WV 17.3% PA 12.5% VA 10.2% NC 17.1% SC 16.5% GA 16.8% NH 7.2% NY 14.0% ME 13.5% DC 19.0% CT 8.6% DE 11.0% MD 9.8% MA 14.6% RI 1.3% NJ 11.3% AK 11.9% TX 16.4% LA 23.1% 10.5% or less 10.6% to 12.0% FL 16.7% HI 10.8% 12.1% to 14.4% 14.5% to 18.0% (at or above the U.S. rate) 18.1% or more Source: U.S. Census Bureau, 2013 CPS data

Oregon Poverty Rate Slightly Lower than Nation CA 15.8% WA 12.0% OR 14.4% NV 17.0% ID 12.4% UT 10.2% AZ 21.2% 2014 U.S. Rate = 14.8%, 2014 Oregon Rate = 14.4% MT 12.0% WY 9.7% CO 12.3% NM 20.0% ND 9.7% SD 12.8% NE 11.8% KS 12.1% OK 17.3% MN 8.3% IA 10.3% MO 10.4% AR 18.4% WI 10.9% IL 13.7% MS 22.1% MI 14.8% IN 14.6% TN 18.2% AL 17.8% OH 15.6% KY 20.0% VT 9.3% WV 17.3% PA 12.5% VA 10.2% NC 17.1% SC 16.5% GA 16.8% NH 7.2% NY 14.0% ME 13.5% DC 19.0% CT 8.6% DE 11.0% MD 9.8% MA 14.6% RI 1.3% NJ 11.3% AK 11.9% TX 16.4% LA 23.1% 10.5% or less 10.6% to 12.0% FL 16.7% HI 10.8% 12.1% to 14.4% 14.5% to 18.0% (at or above the U.S. rate) 18.1% or more Source: U.S. Census Bureau, 2013 CPS data

Malheur County Economic Conditions 2014 Population: 30,359 2010-2014 Household Size: 2.64 Jan 2016 Unemployment Rate: 5.7% (Rank: 17 of 37) Jan 2016 Total Employment: 11,582 (Year-Over-Year Growth: 3.0%) 2010-2014 Median Household Income: $34,380 Sources: U.S Census Bureau and Oregon Employment Department Qualityinfo.org

Idaho Economic Indicators 2015-2017 Population 1.4 1.3 1.2 Nonfarm Employment 2.0 2.3 3.1 Unemployment Rate 4 3.8 3.8 Personal Income 3.8 7.3 8.2 Home Prices 3 3.5 6.1 Gross State Product 3.8 4.3 5.4 0 1 2 3 4 5 6 7 8 9 2015e 2016f 2017f Source: Moody s Analytics e = estimate f = forecast

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