Economist boosts forecast for ’09 Colorado job losses
July 9, 2009
BOULDER, Colorado – Economists for the University of Colorado’s business school expect the state to lose thousands more jobs in 2009 than they first predicted, but they say the losses should level off toward the end of the year.
Richard Wobbekind of CU’s Leeds School of Business said Thursday that Colorado can expect to lose 60,000 to 65,000 jobs for 2009, up from a forecast in December of 4,000 job losses.
Wobbekind says it will take at least two years to recover the jobs lost in the first part of 2009, as the financial lending system froze.
Wobbekind says the Colorado economy will likely closely follow the recovery of the national economy, which CU economists think will grow in the fourth quarter.