Finally, we have two bits of local economic news that, while not good, are at least a little less bad than Idaho has been bludgeoned with lately.

First: Regular state unemployment benefits dropped more than $1 million last week, breaking a string of 16 consecutive weekly increases in the payout from Idaho’s Unemployment Insurance Trust Fund, according to the Idaho Labor Department.

Benefits totaled just under $9.2 million for about 34,000 jobless workers. An additional 5,800 workers received more than $1.5 million in federal extended benefits.

That’s down from $10.2 million in regular state benefits paid the previous week — a record.

But it’s still the second highest weekly payout on record and keeps the trust fund under pressure, says Bob Fick, a department spokesman.

Some Idaho employers grumbled when their unemployment-insurance taxes soared 70 percent Jan. 1. If the economy remains in recession through the first half of 2009 and perhaps beyond, as economists and policy makers increasingly expect, the fund could be so depleted this year that Idaho employers might face another increase next year. The fund had nearly $320 million in November 2007. It has less than $170 million now.

Now, the second bit of not-so-bad news: The U.S. Bureau of Labor Statistics has just revised Idaho’s seasonally adjusted unemployment rate for December down two-tenths of a percentage point to 6.4 percent.

Alas, that’s still seven-tenths of a percentage point higher than the November rate, and it’s still the highest rate for Idaho in more than 20 years.

Pessimism reigns right now. If you’re keeping up with the Statesman’s legislative coverage, you know that the Legislature’s economic committee recommended Thursday that lawmakers use a more pessimistic projection of revenue than Gov. Butch Otter did in crafting his 2010 budget. That could mean even deeper cuts in spending than the conservative governor proposed to keep the budget balanced without a tax increase. The most pessimistic prediction from committee members came from Sen. Nicole LeFavour, the liberal North End Democrat.