Leeds economist: Colorado economy growing at modest pace, tech sector showing "significant strength"

By: Steve Friday July 6, 2012 0 comments Tags: Richard Wobbekind

BOULDER - Colorado's economy continues to grow at a "modest pace" halfway through 2012, with the technology sector showing "significant strength," according to Richard Wobbekind, economist at the University of Colorado Boulder's Leeds School of Business.

The state's economy is growing at a job growth rate of about 1.6 percent, a pace that - if it holds steady - would put Colorado at No. 6 in the nation.

Colorado is now expected to add about 35,000 jobs in 2012, surpassing the 23,000 new jobs projected by Leeds last December.

"You might say it's balanced growth, which is symptomatic of a broad-based recovery in the economy," said Wobbekind. "Both primary and feeder industries have picked up, and we've seen job growth in most industries, including tourism, natural resources, transportation and utilities, with significant strength in the tech sector."

Wobbekind, who presents the Colorado Business Economic Outlook forecast each December, recently met with steering committee members who represent the state's major economic sectors for a mid-year update.

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