Hi Everyone, I came across this great article today by the Denver Post and I thought it was worth sharing. Great news for Colorado and a sunny jobs forecast for 2013.
Cheers and Happy Reading!
CU forecasts broad-based job growth for Colorado in 2013
The Denver Post
Colorado will continue on the road to recovery in 2013 and add a variety of jobs across almost all business sectors, CU economist Richard Wobbekind predicts in the 2013 Colorado Business Economic Outlook.
Wobbekind’s report, releasedMonday, will be presented at an economic forum by the Business Research Division of the University of Colorado Leeds School of Business.
The comprehensive outlook for 2013 features forecasts and trends for 13 business sectors prepared by more than 100 key business, government and industry professionals.
“For the state, we see a very positive environment for 2013,” Wobbekind, executive director of the Business Research Division, said in a statement. “We’re seeing a wide array of jobs being added, and they’re diversifying our state economy.”
Overall, the forecast calls for a gain of 42,100 jobs in 2013, compared with a gain of about 47,900 jobs this year. All sectors of the Colorado economy are predicted to grow next year with the exception of the information sector, which includes publishing and telecommunications.
Compared with other states, Colorado is expected to be in the top 10 states for job growth and perhaps in the top six or seven, Wobbekind said.
He said uncertainty from national and international factors will play a role in slowing growth during the first and second quarters of 2013, with more momentum occurring in the second half of the year.
Resolution of the so-called fiscal cliff and the European debt crisis will impact the national economy and filter down to the state level, he said.
“Once that uncertainty gets resolved, we then expect business investments to start flowing again and consumers to start making decisions based on a known environment,” he said in the statement. “We think the recovery will be quite a bit smoother after that.”
The strongest sector for projected job growth in Colorado in 2013 is the educational and health services sector, which is expected to add 7,600 jobs.
Other leading growth sectors for 2013 include the professional and business services sector, with 7,400 jobs added, and leisure and hospitality, with 5,000 workers added.
The trade, transportation and utilities sector — the largest provider of jobs in Colorado — is expected to grow 1.4 percent with the addition of 5,600 jobs.
The construction sector is expected to grow by 6,300 jobs — up from a 2,800-job increase this year. While the biggest surprise in the sector is the demand for infrastructure work, the number of new multifamily units built is a contributing factor in the increase.
The state’s unemployment rate is expected to decrease from 8 percent in 2012 to 7.4 percent in 2013.
John Mossman: 303-954-1479, email@example.com