Idaho’s Economy Growth Slow But Getting Better
A State economist warns t could take until 2014 for Idaho’s economy to fully recover from the 60,000 jobs lost during the recession. State chief economist Derek Santos told the Legislature’s economic-outlook committee yesterday that Idaho’s personal income — the total of wages, business profits, investment earnings and government payments such as Social Security — showed a 6 percent growth in 2011, fueled in part by the cut in the federal payroll tax. Growth in 2012 and 2013 is expected to range from about 2 percent to under 4 percent.. Housing starts, often a driver in shedding the effect of recession, will be modest over the next couple of years. In 2011, Idaho had 4,178 housing starts, and that is expected to grow to 6,948 in 2013. While the number of jobless Idahoans appears to be falling, from a high of 74,000 at the height of the recession to about 65,000 now, employers still appear reluctant to bring on new workers.