Posts tagged Richard Wobbekind
CU report: Colorado economy to stay warm next year
Dec 11th
Positive, broad-based job growth forecast for Colorado in 2014, says CU Leeds School of Business Colorado will continue on the road to recovery and add a variety of jobs in 2014 across almost all business sectors following a positive year in 2013, according to economist Richard Wobbekind of the University of Colorado Boulder’s Leeds School of Business. Wobbekind’s announcement is part of the 49th annual Colorado Business Economic Outlook Forum to be delivered Dec. 9 by the Business Research Division of the Leeds School and presented by Noble Energy. The comprehensive outlook report for 2014 features forecasts and trends for 13 business sectors prepared by more than 100 key business, government and industry professionals. “With Colorado’s skilled workforce, high-tech diversified economy, relatively low cost of doing business, global economic access and exceptional quality of life, the state is poised for long-term economic growth,” Wobbekind wrote in the outlook. Wobbekind is the executive director of the Leeds School’s Business Research Division. 
Overall, the forecast calls for a gain of 61,300 jobs in 2014, compared with a gain of about 66,900 jobs this year. All sectors of the Colorado economy are predicted to grow in 2014 with the exception of the information sector, which includes publishing and telecommunications. Colorado is expected to be in the top five states for job growth in 2014 with workers added in both goods- and services-producing sectors. The strongest sector for projected job growth in Colorado in 2014 is the professional and business services sector, which is expected to add 14,200 jobs or grow by 3.8 percent. “Colorado has strategic advantages in the professional and business services sector given the highly educated workforce, innovative spirit and small business base that we have in the state,” said Wobbekind. “If national-level political and fiscal uncertainty subsides, we may see even stronger growth in this sector than what we’re currently projecting.” Other leading job growth sectors for 2014 include the construction sector, which is expected to add 11,000 jobs or grow by 8.7 percent; and the trade, transportation and utilities sector, which is expected to add 9,100 jobs or grow by 2.2 percent. Though it was one of the greatest casualties of the recession, the construction sector has exhibited strong growth in recent years in values, permits and employment, according to Wobbekind. Total value of construction is expected to reach the second highest level in the past decade, rising by 14.8 percent in 2014 with the largest increase due to residential construction. Total housing permits are expected to grow by 17.5 percent with gains in both single- and multifamily units. 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 Denver International Airport and gas pipelines, as well as utilities. DIA is expected to record more than 52 million passengers in 2014. Retail sales in the state are anticipated to rise by 5 percent in 2014, up from 4.2 percent growth in 2013. Colorado’s unemployment rate is expected to remain below 7 percent in 2014, which is comparatively better than the national unemployment rate. Commenting on the overall forecast, Wobbekind said, “After the deep recession we encountered as a state and a nation, it is really a relief to be reporting strong positive job growth in Colorado.” Risks to economic growth nationally include sequestration, the debt limit, government shutdown, Federal Reserve policy and health care reform, according to the outlook. Colorado’s population is the seventh fastest growing in the country by percentage and the ninth fastest growing in the country by number of residents. The state’s population is projected to grow by 1.7 percent to nearly 5.4 million people. To view the entire economic outlook for Colorado in 2014, including an overview of each of the state’s major economic sectors, visit http://leeds.colorado.edu/BRD. To follow the event on Twitter use #OutlookCO.
Overall, the forecast calls for a gain of 61,300 jobs in 2014, compared with a gain of about 66,900 jobs this year. All sectors of the Colorado economy are predicted to grow in 2014 with the exception of the information sector, which includes publishing and telecommunications. Colorado is expected to be in the top five states for job growth in 2014 with workers added in both goods- and services-producing sectors. The strongest sector for projected job growth in Colorado in 2014 is the professional and business services sector, which is expected to add 14,200 jobs or grow by 3.8 percent. “Colorado has strategic advantages in the professional and business services sector given the highly educated workforce, innovative spirit and small business base that we have in the state,” said Wobbekind. “If national-level political and fiscal uncertainty subsides, we may see even stronger growth in this sector than what we’re currently projecting.” Other leading job growth sectors for 2014 include the construction sector, which is expected to add 11,000 jobs or grow by 8.7 percent; and the trade, transportation and utilities sector, which is expected to add 9,100 jobs or grow by 2.2 percent. Though it was one of the greatest casualties of the recession, the construction sector has exhibited strong growth in recent years in values, permits and employment, according to Wobbekind. Total value of construction is expected to reach the second highest level in the past decade, rising by 14.8 percent in 2014 with the largest increase due to residential construction. Total housing permits are expected to grow by 17.5 percent with gains in both single- and multifamily units. 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 Denver International Airport and gas pipelines, as well as utilities. DIA is expected to record more than 52 million passengers in 2014. Retail sales in the state are anticipated to rise by 5 percent in 2014, up from 4.2 percent growth in 2013. Colorado’s unemployment rate is expected to remain below 7 percent in 2014, which is comparatively better than the national unemployment rate. Commenting on the overall forecast, Wobbekind said, “After the deep recession we encountered as a state and a nation, it is really a relief to be reporting strong positive job growth in Colorado.” Risks to economic growth nationally include sequestration, the debt limit, government shutdown, Federal Reserve policy and health care reform, according to the outlook. Colorado’s population is the seventh fastest growing in the country by percentage and the ninth fastest growing in the country by number of residents. The state’s population is projected to grow by 1.7 percent to nearly 5.4 million people. To view the entire economic outlook for Colorado in 2014, including an overview of each of the state’s major economic sectors, visit http://leeds.colorado.edu/BRD. To follow the event on Twitter use #OutlookCO.
-CU-
CU: Colorado economy heating up next year
Dec 11th
Positive, broad-based job growth forecast for Colorado in 2014, says CU Leeds School of Business Colorado will continue on the road to recovery and add a variety of jobs in 2014 across almost all business sectors following a positive year in 2013, according to economist Richard Wobbekind of the University of Colorado Boulder’s Leeds School of Business. Wobbekind’s announcement is part of the 49th annual Colorado Business Economic Outlook Forum to be delivered Dec. 9 by the Business Research Division of the Leeds School and presented by Noble Energy.
The comprehensive outlook report for 2014 features forecasts and trends for 13 business sectors prepared by more than 100 key business, government and industry professionals. “With Colorado’s skilled workforce, high-tech diversified economy, relatively low cost of doing business, global economic access and exceptional quality of life, the state is poised for long-term economic growth,” Wobbekind wrote in the outlook. Wobbekind is the executive director of the Leeds School’s Business Research Division.
Overall, the forecast calls for a gain of 61,300 jobs in 2014, compared with a gain of about 66,900 jobs this year. All sectors of the Colorado economy are predicted to grow in 2014 with the exception of the information sector, which includes publishing and telecommunications. Colorado is expected to be in the top five states for job growth in 2014 with workers added in both goods- and services-producing sectors. The strongest sector for projected job growth in Colorado in 2014 is the professional and business services sector, which is expected to add 14,200 jobs or grow by 3.8 percent. “Colorado has strategic advantages in the professional and business services sector given the highly educated workforce, innovative spirit and small business base that we have in the state,” said Wobbekind. “If national-level political and fiscal uncertainty subsides, we may see even stronger growth in this sector than what we’re currently projecting.”
Other leading job growth sectors for 2014 include the construction sector, which is expected to add 11,000 jobs or grow by 8.7 percent; and the trade, transportation and utilities sector, which is expected to add 9,100 jobs or grow by 2.2 percent. Though it was one of the greatest casualties of the recession, the construction sector has exhibited strong growth in recent years in values, permits and employment, according to Wobbekind. Total value of construction is expected to reach the second highest level in the past decade, rising by 14.8 percent in 2014 with the largest increase due to residential construction. Total housing permits are expected to grow by 17.5 percent with gains in both single- and multifamily units. 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 Denver International Airport and gas pipelines, as well as utilities. DIA is expected to record more than 52 million passengers in 2014.
Retail sales in the state are anticipated to rise by 5 percent in 2014, up from 4.2 percent growth in 2013. Colorado’s unemployment rate is expected to remain below 7 percent in 2014, which is comparatively better than the national unemployment rate. Commenting on the overall forecast, Wobbekind said, “After the deep recession we encountered as a state and a nation, it is really a relief to be reporting strong positive job growth in Colorado.” Risks to economic growth nationally include sequestration, the debt limit, government shutdown, Federal Reserve policy and health care reform, according to the outlook. Colorado’s population is the seventh fastest growing in the country by percentage and the ninth fastest growing in the country by number of residents. The state’s population is projected to grow by 1.7 percent to nearly 5.4 million people. To view the entire economic outlook for Colorado in 2014, including an overview of each of the state’s major economic sectors, visit http://leeds.colorado.edu/BRD. To follow the event on Twitter use #OutlookCO.
-CU-
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Colorado business confidence remains positive going into first quarter, says CU Leeds School index
Jan 2nd
Colorado business leaders’ optimism is modest going into the first quarter of 2013 with uncertainty surrounding the country’s political and economic environments, according to the most recent quarterly Leeds Business Confidence Index, or LBCI, released today by the University of Colorado Boulder’s Leeds School of Business.
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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