The University of Colorado Boulder’s Leeds School of Business is predicting the addition of tens of thousands of jobs in the year ahead in hospitality and construction, among other sectors.
“Not only is the state’s economy solidly in positive territory, but it is ranking in the top five nationally for population growth, employment growth, wage and salary growth and personal income growth,” economist Richard Wobbekind said. “With Colorado’s low unemployment rate, we are now hearing about worker shortages for some industries, as well as upward wage pressures.”
Overall, the forecast calls for a gain of 61,300 jobs in Colorado in 2015.
Colorado is expected to be in the top 10 states for job growth in 2015 with workers added in both goods- and services-producing sectors.
Some of the leading job growth areas for 2015 include the leisure and hospitality sector, which is expected to add 11,200 jobs.
Hard hit in the recession, the construction sector has seen strong growth in recent years in values, permits and employment, according to Wobbekind. It’s expected to add 6,000 jobs in 2015.
Colorado’s total construction activity, which will be reported at just under $12 billion for 2014, is forecast to increase by $1.4 billion in 2015 with infrastructure volumes and residential permit values expected to rise. Also, a surge will be seen in nonresidential building.
Colorado’s unemployment rate is expected to remain below 5 percent in 2015, around 4.6 percent, which is comparatively better than the national unemployment rate.
“We are quite fortunate for the jobs being created in the state,” said Wobbekind. “Between 2013 and 2015, Colorado will record the three best years for job growth since 2000.”
About the Author
Will has enjoyed a 20-year career in leadership positions in the hospitality and travel industry throughout the U.S. with the Hyatt, Sheraton, Hilton, Renaissance and Steamboat Ski and Resort corporations. Will received a Bachelor of Science degree from the University of Massachusetts at Amherst. From 2000-2007, he served as President and CEO of the Greater Colorado Springs Chamber of Commerce. He also served as Vice President-Special Projects for the University of Colorado Foundation from 2007 to 2009. Will is a past Chair of the Board of Directors of the National Homeland Defense Foundation and former member of the United States Chamber of Commerce Committee of 100. He is married to Nan, has five wonderful children, and enjoys coaching, traveling, hiking, golfing and skiing.