A dismal second quarter contributed to a slight downturn in Idaho’s latest economic forecast, but the state should still add almost 10,000 jobs this year.
The forecast, released Tuesday by the Idaho Division of Financial Management, projects 1.5 percent job growth this year, but that’s down 0.3 percent from the April forecast.
Chief Economist Derek Santos says much of the drag on the labor market comes from a few slow-growing sectors like computers and electronics, miscellaneous nondurables and financial activities. However, that was offset somewhat by an improved outlook in the food processing, mining and construction sectors.
Overall, Santos is projecting nonfarm employment of 614,000 this year, up from 605,000 a year ago. By 2015, he expects employment to top 662,000.
After new home starts dipped to a low of 4,600 last year, Santos anticipates a 39 percent increase this year.