Boulder Economic Summit

I recently attended the 2011 Boulder Economic Summit. While there were multiple interesting speakers, the keynote presentation featured Dr. Richard Wobbekind, Economist, Leeds School of Business, University of Colorado. Dr Wobbekind presented the outlook for the national, state and Boulder area economy. Below are some highlights from his presentation. 

Nationally, the recovery is taking hold in the private sector however the underemployed need to become fully employed before we start seeing a decrease in the unemployment rate. Looking forward the unemployment rate is a lagging indicator of the economy, however consumption growth is rising. There are several risks to keep any eye on, including the housing market, oil prices and transportation costs and the bond market. 

 In Colorado, jobs are not keeping pace with population growth. Services-producing jobs make up 88% of employment in Colorado. The largest industries being hit by job losses in 2011 are construction, government, information and manufacturing. Among those industries that remain strong compared to the nation are our tech base, agriculture, transportation and energy. Investment remains a bright spot in Colorado.