Leeds study: Colorado economic growth to slow but remain strong in 2016

Monday December 7, 2015 0 comments Tags: Boulder, CU-Boulder, Leeds School of Busi, Richard Wobbekind, Colorado Business Ec

 

BOULDER -- Colorado employment will continue to expand in 2016, adding a variety of jobs in almost every business sector but at a slower pace than the previous two years, according to a study to be presented today by economist Richard Wobbekind of the University of Colorado-Boulder’s Leeds School of Business.CU_Leeds_School_logoUSE

Overall, the study calls for a gain of 65,100 jobs – or a 2.6 percent growth rate – for the state in 2016. Every sector except the natural resources and mining industry are predicted to grow in the coming year, with the information industry seeing only modest gains.

The strongest sector for projected growth is the professional and business services sector, expected to add 15,500 jobs. Other sectors expected to have significant growth are education and health services (10,900 jobs) and trade, transportation and utilities (10,800 jobs).

Wobbekind’s report is part of the 51st annual Colorado Business Economic Outlook Forum  to be presented today by the Leeds Business Research Division. The report looks at 13 business sectors prepared by more than 100 key business, government and industry professionals.

“Colorado will remain one of the top growth states nationally in 2016,” Wobbekind said. “We benefit from being a very desirable state where people was to live and work, allowing us to attract top talent.”

Colorado’s unemployment rate is expected to remain low -- below 4 percent – in 2016, which is lower than the national rate.

“Colorado is now staring at full employment,” said Wobbekind. “With such a low unemployment rate and a decreasing labor participation rate, continued in-migration will be integral to supporting economic growth across the state.”

To view the entire report, click here.