Colorado could add 61,300 new jobs in 2014, compared to the 66,900 jobs this year, which would give the state strong back-to-back performances in growing its economy after the tumult of the Great Recession,according to economist Richard Wobbekind of the University of Colorado Boulder’s Leeds School of Business.
The sunny economic forecast is part of CU’s 49th annual business and economic outlook for the state. If it all comes to pass, Colorado would rank among the top five states nationally next year for job creation in both goods and services producing sectors.
The 2014 outlook features forecasts and trends for 13 business sectors prepared by more than 100 key business, government and industry professionals. Wobbekind is the executive director of the Leeds School’s Business Research Division.
The state’s construction sector is expected to continue its powerful rebound from a damaging slide during the recession, adding 11,000 jobs in 2014, according to the forecast. 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, which is expected to add 9,100 jobs or grow by 2.2 percent, is the state’s largest job producer and includes everything from wholesale and retail trade to Denver International Airport to gas pipelines and utilities.
The entire economic outlook report can be viewed here.