Prediction: Colorado job growth to outpace nation

Colorado's 2006 job growth will outstrip the nation's, leading the state to record levels of employment, according to the forecast that's part of the Colorado Business Economic Outlook.

The Outlook, a project of the Leeds School of Business at the University of Colorado, predicts the state will add 52,100 jobs, a growth rate of 2.3 percent. In early 2006, total state employment will exceed the 2.25 million jobs Colorado had in 2001 before the recession hit.

By contrast, national job growth will be 1.8 percent, according to the Outlook.

"The western U.S. is by far the strongest section of the country for job growth right now," said CU economist Rich Wobbekind. "And Colorado is part of a strong Rocky Mountain economy."

CU and sponsor Compass Bank will present the Outlook in a free event today from 1 p.m. to 6 p.m. at the Marriott City Center Hotel in Denver.

The Outlook, followed by audience questions for a panel of economists, will last until 2:30. Thomas A. Petrie, the co-founder of energy investment bank Petrie Parkman & Co., will give a keynote, and special industry breakout sessions will follow at 3 p.m.

Other highlights:

The leading sector for job growth will be the professional and business services sector, which includes engineers, computer systems designers and scientific research. The outlook predicts 11,700 new jobs in the sector.

The information sector, which includes telecom and printing and publishing, is the only area predicted to shed jobs, with a loss of 800.

The Outlook expects Coloradans' per-capita income to increase to $39,917 from $37,947. The forecasted national average for 2006 is $36,635.

The Colorado unemployment rate is forecast at 4.9 percent, slightly below the national 5.0 percent.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.