• Font Size    
E-mail

Close Window E-mail This Page

Economist Optimistic For Colorado During Recession

Required fields are marked with an asterisk(*)

The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications. Read more in our Privacy Policy

Send E-mail

   Print     Share +   
Dec 1, 2008 8:20 pm US/Mountain

Economist Optimistic For Colorado During Recession

Reporting
Mike Hooker
FORT COLLINS, Colo. (CBS4) ― The U.S. economy has been in a recession since December 2007, the National Bureau of Economic Research said Monday. But an economics expert from Colorado says because of the mix of jobs in the state and because the housing bubble wasn't as extreme as other states, Colorado has some advantages.

"Conventional wisdom is that Colorado will suffer a slowdown, but it won't be as severe as the rest of the country because the structure of our industry is different," said Nancy Jianakoplos, Colorado State University Economics Professor. "We're not as dependent on financial services as some of the country. We're not as dependent on the automobile industry."

Jianakoplos says looking at shoppers and the way people are spending money, it shows this recession is different than previous recessions.

"Previous recessions were pretty much fueled by a lack of business spending," she said.

Jianakoplos, like many economists, thinks this recession could turn around my mid-to-late spring. She says Colorado's prospects look better than some other parts of the country.

"My colleagues have models for the Colorado economy and they're suggesting not a job destruction, but maybe some additional jobs in the coming year in Colorado," she said. "Very few, but not necessarily negative jobs."

Jianakoplos says while Colorado's downturn should be less extreme, the recovery should be right on pace with the rest of the country.

(© MMIX CBS Television Stations, Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Curious & Controversial News

You need the latest Flash player to view video content.
Click here to download.

Click here to bypass this detection if you already have the latest Flash Player.

Business

Top News Stories

© MMIX, CBS Television Stations Inc. All Rights Reserved.