A group of leading economists, including CU Boulder economist Dr. Richard L. Wobbekind, anticipates another positive year for Colorado’s economy and job growth in 2013. In a recent interview on NPR, Wobbekind discussed Colorado’s incredible economic growth throughout 2013, as well as the Colorado Business Economic Outlook for 2013, an industry-specific forecast of the state’s economy.
Although the national economy has been moving as slow as a tortoise, Colorado’s economy has been booming by comparison, defying economists’ expectations. Forecasts for 2012 predicted 23,000 jobs would be added. After a strong growth spurt in the middle of the year, Wobbekind and other economists updated the estimate to 35,000 jobs. Actual job growth exceeded even that number, with approximately 45,000 jobs created by the year’s end.
According to Wobbekind, the forecast for 2013 looks equally as promising, with an estimated 42,000 jobs to be added. Job growth has been and is expected to continue being broad-based. Economists anticipate significant growth in the education and health services area as well as the professional business and scientific area. Construction will add an estimated 6,300 jobs; trade, transportation and utilities will add 5,600 jobs; and tourism will add 5,000 jobs. Only information sectors are expected to suffer job loss. With these promising numbers, Wobbekind and other economists believe Colorado could end up in the top five states for job growth.
For more information about Colorado’s job growth and the Colorado Business Economic Outlook, read the transcript of NPR’s interview with Wobbekind.
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