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Tuesday, December 8, 2009
Number of Jobs Denver Has to Increase Next Year
The number of jobs Denver (Click here) and Colorado have is expected to increase next year.
According to a recent report from the University of Colorado at Boulder Leeds School of Business, economists predict that although the state will lose 3,200 jobs next year, Colorado will begin to add jobs during the second half of 2010. Many think this prediction is a sign the state's economy will improve next year after losing about 100,000 jobs so far this year.
"We still have some serious kinks to work through, but we see 2010 as a stabilizing year that will put the state economy in a position for more sustained growth in 2011 and 2012," Economist Richard Wobbekind said.
Economists estimate that Colorado's unemployment rate will increase from 7.3 percent at the end of this year to 8.1 percent during the beginning of 2010. The Governor's Budget Office previously predicted that there will be an 8 percent unemployment rate next year.
State legislative economists are expected to release their projections by the end of this month. During September, they predicted the unemployment rate will rise to 8.6 percent during 2010, as frustrated job seekers who have stopped looking for work will rejoin the job market.
During 2007, Colorado had an unemployment rate of 3.9 percent, but the last 10 years have been slow in terms of job growth. To put things in perspective, the state has added about 870,000 residents since 2000, but only 117,900 jobs.
During October, Colorado saw its unemployment rate decrease from 7 percent to 6.9 percent, following a decrease from 7.3 percent during September. The state's current rate was well below the national unemployment rate at the time of 10.2 percent.
Colorado had a total non-farm employment of 2,241,100 workers during October, according to the U.S. Department of Labor Bureau of Labor Statistics. This is up from 2,240,100 workers during September, but a 4.3 percent decrease from last year.
The Denver-Aurora-Broomfield area saw its unemployment rate decrease from 7.1 percent to 6.8 percent during October. During that month, the area had a total non-farm employment of 1,202,000 workers, up from 1,201,900 workers during September, but a 3.9 percent decrease from last year.
According to a recent report from the University of Colorado at Boulder Leeds School of Business, economists predict that although the state will lose 3,200 jobs next year, Colorado will begin to add jobs during the second half of 2010. Many think this prediction is a sign the state's economy will improve next year after losing about 100,000 jobs so far this year.
"We still have some serious kinks to work through, but we see 2010 as a stabilizing year that will put the state economy in a position for more sustained growth in 2011 and 2012," Economist Richard Wobbekind said.
Economists estimate that Colorado's unemployment rate will increase from 7.3 percent at the end of this year to 8.1 percent during the beginning of 2010. The Governor's Budget Office previously predicted that there will be an 8 percent unemployment rate next year.
State legislative economists are expected to release their projections by the end of this month. During September, they predicted the unemployment rate will rise to 8.6 percent during 2010, as frustrated job seekers who have stopped looking for work will rejoin the job market.
During 2007, Colorado had an unemployment rate of 3.9 percent, but the last 10 years have been slow in terms of job growth. To put things in perspective, the state has added about 870,000 residents since 2000, but only 117,900 jobs.
During October, Colorado saw its unemployment rate decrease from 7 percent to 6.9 percent, following a decrease from 7.3 percent during September. The state's current rate was well below the national unemployment rate at the time of 10.2 percent.
Colorado had a total non-farm employment of 2,241,100 workers during October, according to the U.S. Department of Labor Bureau of Labor Statistics. This is up from 2,240,100 workers during September, but a 4.3 percent decrease from last year.
The Denver-Aurora-Broomfield area saw its unemployment rate decrease from 7.1 percent to 6.8 percent during October. During that month, the area had a total non-farm employment of 1,202,000 workers, up from 1,201,900 workers during September, but a 3.9 percent decrease from last year.
Labels: Jobs Denver
posted by Jen Carpenter # 2:31 PM 
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