Idahos economy wont grow as fast in the next few years as previously thought, a state agency said Tuesday.
The Division of Financial Management dimmed its outlook slightly from its the previous forecast three months ago.
Idaho nonfarm employment is projected to increase 1.5 percent this year, 2.3 percent in 2013, 2.5 percent in 2014 and 2.7 percent in 2015, the division said. By then, Idaho should have about 662,100 jobs, up from about 615,000 today but about 2,500 fewer than in the previous forecast.
Much of the drag on the labor market comes from a few slow-growing sectors, like computer and electronics, miscellaneous nondurables, and financial activities, the division said. But food processing, mining and construction have been growing faster than projected, resulting in higher forecasts for those sectors.
Personal-income growth will grow more slowly than previously thought, too, cutting $311 million from Idaho's estimated personal income in 2014.