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Experts Predict Economic Improvement Thanks to Construction Industry

by KREX News Room
by Kristina Kuestner

Story Created: Sep 27, 2012 at 10:48 PM MDT

Story Updated: Sep 28, 2012 at 8:20 AM MDT

DENVER- According to an economist at the University of Colorado Boulder Leeds School of Business, the state should see an economic improvement next year due to an upswing in the construction industry.

According to the Denver Post, Richard Wobbekind says the construction sector is adding a lot of jobs to the state as a result of home builders pulling more permits.

Wobbekind says Colorado is seeing a sharp drop in the number of homes for sale and a decrease in foreclosures.

Although Colorado is starting to see a construction recovery, Wobbekind says the state will still need stronger job growth in 2013.

He predicts that Colorado will see an unemployment rate above 8 percent through 2013, before dropping to 7 percent by the end of 2014.

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