Posts tagged economy
Colorado business confidence remains positive going into first quarter, says CU Leeds School index
Jan 2nd
For the first quarter of 2013 the LBCI, conducted by the Leeds School’s Business Research Division, posted an overall confidence reading of 51.3, down slightly from 51.6 in the fourth quarter of 2012. A reading greater than the neutral mark of 50 indicates positive expectations and one less than 50 indicates negative expectations going forward
Business leaders are optimistic about all of the metrics of the quarterly index except for the national economy and industry hiring plans. The other categories measured include the state economy, industry sales, industry profits and capital expenditures.
“For months, drags on the national economy have included the European debt crisis, the slow rate of employment growth and the resolution of the federal debt crisis,” said economist Richard Wobbekind, executive director of the Business Research Division. “While Colorado business leaders have stronger confidence in the local economy than the national economy, they’re proceeding very cautiously.”
Confidence in the state economy, which is at 55.5 points for the first quarter of 2013, outstrips that of the national economy, which posted a reading of 47. The outpacing of confidence in Colorado’s economy compared to the national economy is a 30-quarter trend, based on LBCI results.
Business leaders’ sales expectations for the first quarter rose to 54.4, up from 53.2 last quarter, and are buoyed by 44.1 percent of LBCI respondents who anticipate an increase in the first quarter versus only 25.2 percent who predict a decline. Meanwhile, leaders’ profit expectations fell to 51.6, down from 52.2 for the last quarter of 2012.
Hiring expectations have slipped into negative territory at 49.3, down from 51 in the last quarter of 2012, while capital expenditures remain close to neutral at 50.1.
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CU Leeds School of Business: Positive, broad-based job growth forecast for Colorado in 2013
Dec 3rd
Wobbekind’s announcement is part of the 48th annual Colorado Business Economic Outlook Forum presented Dec. 3 by the Business Research Division of the Leeds School.
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,” said Wobbekind, executive director of the Business Research Division. “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 in 2013 with the exception of the information sector, which includes publishing and telecommunications.
When comparing the Leeds School forecast to employment outlooks for other states, Colorado is expected to be in the top 10 states for job growth in 2013 and perhaps in the top six or seven, according to Wobbekind.
Even with positive job growth projected for the state, Wobbekind said uncertainty from national and international factors will play a role in slowing growth during the first and second quarters of 2013. More momentum will occur in the second half of the year.
“Resolution of the so-called fiscal cliff and the resolution of the European debt crisis will have impacts on the national economy and that will filter down to the state level,” said Wobbekind. “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. 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. The sector is expected to add 7,600 jobs in 2013.
In addition, 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, mostly in the areas of accommodation and food services.
The trade, transportation and utilities sector is the largest provider of jobs in Colorado. It includes everything from wholesale and retail trade to a variety of transportation features such as the Denver International Airport and gas pipelines, as well as utilities. The sector is expected to grow 1.4 percent in 2013 with the addition of 5,600 jobs.
The construction sector is expected to grow by 6,300 jobs in 2013 — up from a 2,800-job increase this year — and produce $12.6 billion in total value of construction. While the biggest surprise in the sector is the demand for infrastructure work, the number of new multifamily units built is a contributing factor to the increase, among others.
Commenting on the overall forecast, Wobbekind said, “It’s great to be giving positive news to people year after year. Confidence levels nationally are at their highest levels in five years. We’re really starting to see a lot more optimism on the part of the average person on the street about the future.”
Colorado’s unemployment rate is expected to decrease from 8 percent in 2012 to 7.4 percent in 2013, which is comparatively better than the national unemployment rate.
Colorado’s population grew by 1.4 percent, or 71,000 people, in 2012 and is projected to increase by 1.5 percent, or 77,500 people, in 2013. Roughly half of the increase will derive from net migration, or the increase of people moving to the state.
To view the entire economic outlook for Colorado in 2013, including an overview of each of the state’s major economic sectors, visit http://leeds.colorado.edu/BRD and click on the Colorado Business Economic Outlook 2013 icon.
Vote Obama – Government Oversight Critical By Scott Hatfield
Oct 31st
By Scott Hatfield
With serious differences on corporate and government accountability and the concentration of wealth and power at the very top, folks should be feeling compelled to vote for Obama. Here in Boulder, most people will vote and vote democratic. However, there are some compelling reasons to vote for Obama if you are a Green, moderate Republican, unmotivated, or middle of the road.
With Ruth Bader Ginsburg planning to retire in 2015, her replacement by a far right corporatist would have serious consequences for decades on a wide variety of issues. Whether it is a woman’s right to choose, global warming, campaign finance, toxic waste, voter intimidation and suppression, public lands extraction, public health, or civil liberties, cementing right wing control would be a blow to the rights of all Americans. With the appointments of Elena Kagan and Sonia Sotomayer, the President has shown appropriate and reasonable judgment.
Government oversight and regulation of large powerful corporations plays a critical role in protecting the safety of the American people. For a wide variety of issues, the Republicans keep repeating that regulations are the problem. We need to act to prevent a corporate free for all. The top issue on regulations has been health care reform. Privatizing Medicare through a voucher system while removing oversight would raise premiums while unleashing corporate profits at the expense of the sick and wounded. Health care needs to be about healing people rather than absolving accountability for the powerful. The argument against Obamacare is the same as the argument against oversight of toxic material. With cancer overtaking heart disease as the nation’s top killer, the purpose of collusion between these disparate but connected industries reflects a self perpetuating cycle of disease as a top priority, not safety in the homeland. A lack of regard for corporate accountability pervades the Romney agenda across the board on environmental issues so important to Boulder and the quality of life everywhere be it water (#1 in CO), CO2, endangered species, public lands extraction, exploding chemical plants, or wilderness.
Most of the stated opposition to corporate accountability boils down to the economic burden on the rich and powerful corporate elite. This is especially glaring in the financial and economic sectors. For Romney, it is not a matter of the economy; it is a matter of whose economy. Republicans are all too happy to see larger and larger proportions of Americans living in poverty and despair. Again a complete lack of accountability is the mantra for the financial sector abuses that got us into this economic quagmire in the first place. Meaningful reform will not occur without oversight. Too many people have lost their homes, retirement funds, and jobs. The Wall Street giants have made their intentions clear. A regulatory regime on these bloated bankers is critical for an economy that provides a level playing field. We need a financial system capable of promoting the interests of a majority of Americans, not just those at the top. “Drill, baby, drill!’ will not get us out of the mess that Wall Street created, just ask the Frankenstorm Sandy.
Across the board, replacing any meaningful policy analysis with sound bites about burdensome regulations on large corporations will not solve our nation’s problems. If you want to get out of a hole, stop digging. While fighting multiple wars abroad under the guise of keeping the American people safe, the serious erosion of corporate responsibility at home on issues such as health care, toxic exposure and the environment, and the financial sector will do more to damage homeland safety than enemies abroad could ever hope for.
Scott Hatfield has been a member of the Central Committee of the Colorado Democratic Party and the Executive Committee of the Boulder Democratic Party since 1996.