Colorado economist: recession may last through ’09
DENVER ” Private Colorado economist Tucker Hart Adams says there’s a high probability the recession will last at least through 2009.
She told the Independent Petroleum Association of Mountain States on Tuesday to expect more job losses next year, a higher unemployment rate with more people taking part-time jobs while they look for full-time work, and lower inflation of around 1 to 2 percent.
On Monday, Richard Wobbekind of the University of Colorado’s Leeds School of Business said he expected 4,000 job losses in Colorado next year and an unemployment rate of 6.5 percent.
Adams says energy industry growth will probably slow next year, but a lot depends on how long natural gas and oil prices stay down and for how long.