CBER recently released its forecast of the Colorado economy and at the risk of sounding like a broken record, 2013 will look a lot like 2012 and 2011.
- U.S. Real GDP will be in the range of 1.9% to 2.3%
- The U.S. will add 1.9 to 2.1 million workers
- Colorado will account for 2.5% of U.S. jobs added
- Colorado will add 45,000 to 55,000 workers.
Since the end of the recession, Colorado employment has had five false starts. Despite serious national and international headwinds, the state may finally have enough momentum to begin showing solid, sustained job growth beginning in the second half of 2013.
Strong Growth Category ( About 32% of total employment)
This category has consistently posted strong growth over the past two decades. In 2013, job growth will be 2.9% to 3.1%, slightly below the category’s annualized growth rate of 3.25% for 1990 to 2011.
Limited Growth Sectors (about 40% of total employment)
This category has consistently posted solid growth over the past two decades (Annualized rates for the sectors range between 1.1% to 2.2%.) In 2013, job growth will be 1.4% to 1.6%, slightly below the category’s annualized growth rate of 1.85% for 1990 to 2011.
Volatile Growth Sectors (28% of total employment)
This category has been inconsistent in its growth rates over the past two decades. It is expected to add jobs at a rate of 2.1% to 2.3%. This is above the category’s annualized growth rate of about 0.79% for 1990 to 2011. This variance from the average is a reflection of the category’s volatility.
©Copyright 2011 by CBER.