Experts Forecast Strong State Economy for 2008

By: Tim Ciesco Email
By: Tim Ciesco Email

Economy experts from the University of Colorado in Boulder say the state's economy will continue to stay strong in 2008.

According to the 2008 economy forecast released Tuesday, the job growth rate in Colorado will continue to be one of the highest in the country.

Experts believe 43,000 new jobs will be created in Colorado in 2008. That's a job growth rate of 1.9 percent. The national average is estimated to be at 1.1 percent.

Experts also say Colorado's unemployment rate will be just over 4 percent, while the national unemployment rate is at around 5 percent.

Here in the Western Slope, they say the enormous growth is because of the booming energy sector, the demand for housing, and Grand Junction becoming a major shopping hub.

"The economy out there has been very good," said Richard Wobbekind, Chief Economist at CU Boulder. "I would say it's the leading economy in the state over the past six or seven years."

Experts say we will also see job growth in the professional services sector, the leisure and hospitality sector, and the education and health care sector.

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