State economy grows faster than expected

BOULDER – Colorado’s economy grew faster than expected in the first half of the year and continued to outpace the nation’s growth, according to a midyear outlook released by the University of Colorado-Boulder’s Leeds School of Business on Thursday.

The outlook projects more growth in all of the state’s sectors except for information, including publishing and telecommunications.

Colorado employment in May was up 3 percent compared with the same month a year ago. The Leeds School projects a job gain of 68,000 this year, a figure adjusted up from 61,300 from December projections.

“The growth for Colorado that we are forecasting for 2014 would make it the fourth-fastest growing state in the country,” Richard Wobbekind, executive director of the Business Research Division at the Leeds School, said in a press release. “Colorado is growing at roughly twice the pace of the national economy in terms of job growth. It continues to be a shining star in the grand scheme of things, as it was in 2013.”

Natural resources and mining continue to help fuel Colorado’s job growth, with employment growing about 10 percent year over year. Construction employment, meanwhile, has grown eight percent since May of 2013.

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