BOULDER, Colo. (AP) – University of Colorado economists say the state economy is growing faster than expected.
In December, the University of Colorado Boulder’s Leeds School of Business forecast job growth of about 1.8 percent for 2013. On Tuesday, they said Colorado added about 52,400 jobs from May 2012 to May 2013 for a growth rate of about 2.3 percent.
CU now estimates a job growth rate of 2.5 percent for 2013.
CU economist Richard Wobbekind says the construction, professional and business services, and leisure and hospitality sectors have had the largest growth so far, thanks in part to strong tourism as well as construction projects like one that will build a rail line to Denver International Airport. However, a lingering drought is a concern for Colorado farmers.