January is a busy month for economists, policy makers, business leaders and civic leaders. We all gather — and often — to hear what the experts have to say about what’s in store for the year ahead.
One of the most well-attended annually here in Boulder is the “Economic Outlook: Here and Beyond.” Hosted by the Boulder Economic Council, the 2015 event this week was filled with a mix of mostly good news, with some persistent and distressing trends.
For those who missed it, the featured speakers were CU-Boulder economist Richard Wobbekind, and Phyllis Resnick, lead economist with CSU’s Colorado Futures Project (a continuation of the program that began at the University of Denver.)
Dr. Wobbekind offered a generally rosy — though conservative — look at the upcoming year for Boulder and the state.
The key takeaways: 2015 should bring the third consecutive year of healthy economic growth. So healthy that we should conclude with the best three years, economically speaking, since 2000. Colorado’s economy is poised to be one of the best performing economies in the country.
The recovery from the Great Recession was uneven: Boulder, along with Greeley, Ft. Collins and Denver, outpaced the state and the nation on employment recovery. Other areas of the state, including Grand Junction and Colorado Springs, have still not recovered those job losses.
So, mostly good news, at least for the Boulder County economy as a whole. Two of the biggest problems facing Boulder, according to Wobbekind:
Growing inequality, with median household incomes not reflected by growth in general. The very top earners are doing very well. Those at the bottom and the middle of that scale are not keeping pace.
And rising housing prices in Boulder County are pricing many would-be homeowners out of the market, and making it harder for those who do live here to make ends meet.
Predictions are plenty, and often come to bear. The reactions to those predictions, particularly with policy, usually fall short. It’s not for lack of effort, or good intentions, but policy is a slow ship to turn around. For nonprofits and other civic groups, it’s a clarion call to help those being left behind by the economy recovery.
