CU economists expect slow, steady growth in 2011

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Colorado should add about 10,100 jobs next year after losing more than 140,000 jobs the past two years, according to a forecast released Monday by University of Colorado economists.

Nevertheless, that won’t be enough to lower the unemployment rate, Richard Wobbekind of CU’s Leeds School of Business said. He expected slow, steady growth in both the national and Colorado economies.

His team expects job losses in the government, construction, manufacturing and information sectors next year, but other sectors should grow.

The higher-paying professional and business services sector is projected to grow the most with about 7,000 new jobs. That sector includes engineers and computer systems designers.

The tourism industry will be recovering in 2011, Wobbekind said. He expected moderate increases in hotel occupancy rates, room rates, casino revenues and skier visits.

CU economists expect Colorado’s unemployment rate to grow to 8.8 percent for 2011, up from around 8.2 percent at the end of 2010.

One Response to CU economists expect slow, steady growth in 2011

  1. Colorado and Colorado Univeristy economists have been incorrect about the Colorado economy since 2005.
    Some stated the Colorado economy would not decline like the rest of the country while at the same time real estate delinquiencies and foreclosures were setting new record highs.
    This pattern, along with increasing unemployment, and not predicting the economic decline in the first place demonstrates most Colorado and Colorado University economists have inaccurate methods.

    tom goans
    December 6, 2010 at 11:53 am