DENVER — The group behind the 60th Annual Colorado Business Economic Outlook Forum expects economic growth in the Centennial State for 2025.
The forum is scheduled to be held in Denver on Monday as researchers share the results of their report. The forecast was compiled by the Business Research Division at the University of Colorado and includes a collaborative effort with more than 140 businesses, education and other organizations.
"Despite a complex national and global economic landscape, Colorado's diverse economy is expected to remain resilient," part of a news release issued by the University of Colorado reads.
Researchers project job growth of 1.2% in Colorado for 2025, or about 36,700 jobs. Ten of Colorado's 11 major industries are expected to add jobs. However, one researcher KOAA spoke with explained Colorado's population growth is slowing, coupled with about 40,000 people expected to retire next year, which could be an issue.
"I think, honestly, though, one of Colorado's greatest headwinds right now is our population growth," Brian Lewandowski the Executive Director of the Business Research Division at Leeds School of Business explained. "It has slowed pretty dramatically over the last several years, really, starting with the pandemic. Colorado's population growth slowed down, and without that growth, we think Colorado will struggle to post significant job growth because we don't have the people to take those jobs. So the state demography office estimates there's about 40,000 people retiring per year in Colorado. So for us to just stay flat, with no job growth, presumably you need to have about 40,000 people to backfill those retirements."
The outlook also predicts GDP growth, despite many unknowns.
Click here to read the full report that was released on Monday.
