Economist sees modest gains for Colorado in 2010
Colorado will see job growth, improving incomes and rising retail sales this year, predicted Bill Kendall, one of the state’s top economists.But those gains will be modest at best, he cautioned.”It is not going to feel like a healthy economy,” Kendall told a lunch gathering of the Denver Association of Business Economists on Wednesday.Economists are trying to figure out why Colorado’s economy fell so hard after Lehman Brothers collapsed in mid-September 2008, despite the state having avoided the run-up in home prices seen elsewhere.”The economy fell off a cliff,” said Kendall, who does economic modeling with the Center for Business & Economic Forecasting in Denver.Kendall attributes the sharp contraction to the tight credit markets that small companies and entrepreneurs faced.Companies in Colorado with fewer than 250 workers have cut their payrolls by 5.6 percent during this recession, while bigger businesses have shed jobs by half that amount.In 2002 and 2003, bigger companies were responsible for the majority of layoffs, he said.Read more: http://www.denverpost.com/business/ci_14233631?source=pophome#ixzz0dIoccvfA
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