As the second half of 2025 commences, we implore Inland Northwest businesses to believe what they see, not what they hear, and to make sound decisions for investment and growth based on what is happening within their respective enterprises. 

It's a big ask coming out of the first half of a year in which uncertainty and constant change at national and global levels caused many to pause. 

Much of that uncertainty persists, and conversations about most economic indicators require a nuanced approach. That said, some numbers that businesses typically track remain healthy, especially when viewed from a historical perspective. 

Take job numbers, for example. In the Spokane-Spokane Valley Metropolitan Statistical Area, total employment has varied from month to month—growing slightly some months and contracting slightly in others. The jobless rate, however, was 4% in May and dipped below that 4% mark this spring. In North Idaho, the numbers are even more robust.

Much of that growth, on both sides of the Washington-Idaho state line, is concentrated in health care jobs, and the hope would be that sector buoys overall employment figures until other industries begin to grow their respective workforces again. But overall, jobs numbers aren't cause for alarm.

In the Spokane area, home sales activity is up by 4.6% through the first five months of the year, compared with the previous year, following an era of flat growth. Despite concerns about persistently elevated mortgage rates, homes are moving at a faster clip and appear to be selling at a higher price, with the median home price in May increasing by nearly 6% in year-over-year comparisons.

Of course, housing availability and affordability remain long-term problems, but at this stage, homes are moving better than they have in the past. 

And importantly, if for some reason you haven't checked your investment portfolio since the market crashes earlier this year, you might be pleasantly surprised about what you see when you do check it. 

Summarizing a story about market performance, the Wall Street Journal recently wrote, "Investors who pushed the S&P 500 to a record last week were likely expressing relief that worst-case scenarios feared in recent months haven't occurred." They went on to say that the newfound optimism has expanded to include stocks in a more diverse group of sectors.

Ideally, "newfound optimism" will become a more commonplace phrase in the second half of the year.

We say that knowing elements of uncertainty persist. Tariff-spurred price increases might not have worked their way into pricing models yet, and as the past has made apparent, global conflicts have a way of filtering down into local economies. And a new round of state taxes could pinch profit margins to a greater degree.

In other words, we aren't advocating wishful thinking or reckless behavior. But nobody knows a business better than the people who are running it. Make decisions based on what you know about your strengths, value proposition, and markets, and the second half of the year could provide opportunity that appeared elusive earlier in the year.