Idaho jobless rate held in July

Idaho’s seasonally adjusted unemployment rate held steady at 3% in July, compared with a month prior, according to the Idaho Department of Labor.

Idaho added 2,900 nonfarm jobs in July, bringing the total number of positions to 790,800, the department reported Friday.

The local government, natural resources, financial activities, accommodation-and-food services, transportation, warehouse-and-utilities, and construction sectors all experienced job gains in July.

Industries with job declines last month include information, manufacturing, arts, entertainment-and- recreation, and state government.

Four metropolitan statistical areas in Idaho saw nonfarm job gains with Pocatello experiencing the largest increase at 2.8%. It was followed by Boise at 0.7%, Coeur d’Alene at 0.6% and Idaho Falls at 0.4%, according to the department.

Stocks close higher Monday after tough week of losses

Stocks closed higher on Wall Street Monday, pushing the Nasdaq composite to an all-time high and helping the S&P 500 more than make up for its losses last week.

The S&P 500 rose 0.9%, after spending much of the day within striking distance of its own record high. The benchmark index ended less than 0.2% below its all-time high set a week ago.

Technology, communication and financial stocks helped lift the S&P 500. Companies that rely on consumer spending also rose.

Energy stocks rallied as the price of U.S. crude oil jumped 5.3%, recovering some of the ground it lost last week.

Only utilities, household goods makers and real estate companies fell. Treasury yields were mixed.

Pfizer rose 2.5% after the Food & Drug Administration gave full approval to its COVID-19 vaccine.

The vaccine had been under an emergency-use authorization since December, but the full approval could convince some reluctant Americans to now get their shot and will likely give local authorities the legal backing to impose mandates.

BioNTech, a German drug manufacturer which developed the vaccine with Pfizer, jumped 9.6% on the news. Moderna, which developed a similar vaccine that uses the same technology, vaulted 7.5%.

The prospects of more vaccinations and signs of some easing in the growth rate of coronavirus cases, helped put investors in a buying mood, said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

Hopefully, the FDA approval “increases the uptake of the vaccine,” said Samana. The market’s gains “shouldn’t be viewed as anything other than a vaccine rally.”

The S&P 500 rose 37.86 points to 4,479.53.

The Dow Jones Industrial Average added 215.63 points, or 0.6%, to 35,335.71.

The Nasdaq gained 227.99 points, or 1.5%, to 14,942.65, eclipsing its last all-time high set early this month.

Chevron will require some employees to vaccinate

NEW YORK – Chevron Corp. is requiring some of its employees to be vaccinated against the coronavirus as the oil industry struggles with rising infections among unvaccinated workers.

The Wall Street Journal reported Monday that the oil giant is requiring workers traveling internationally, living abroad or working on U.S.-flagged ships to get vaccinated.

It offshore workers in the Gulf of Mexico must be vaccinated by Nov. 1.

The Journal says the San Ramon, Calif.-based company is now evaluating whether to impose a vaccine mandate throughout its entire workforce.

It may allow exemptions for health or religious reasons.

From staff and wire reports