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State Economic News

2018 Colorado Business Economic Outlook

The Leeds School of Business of the University of Colorado Boulder just released its annual economic forecast and outlook. The publication covers a wide range of economic and industry topics across the state, including employment, international trade, and regional information. While Colorado’s economy continues to outperform those of other states, the pace of growth has generally slowed in 2016 in the Centennial State before accelerating again in the first half of 2017. Total personal income rose 3.9% in Q2 2017 year-over-year, per capita personal income increased by 2.2%, and the state’s labor force increased by 3.7% year-over-year in September.

OSPB December 2017 Revenue and Economic Forecast

According to the Governor’s Office of State Planning and Budgeting (OSPB), Colorado’s economic growth remains solid, with urban areas along the Front Range leading. With the expansion, however, comes rising costs of living and tight labor market conditions. Mining and logging has experienced the largest year-over-year job growth, followed by construction and professional services.

Talent Pipeline Report

The Colorado Workforce Development Council recently released its latest Talent Pipeline Report, which explores supply and demand trends regarding talent, and strategies on closing the gap and strengthening the pipeline to a skilled and relevant workforce. As certain jobs are being automated, several require increasingly higher levels of technological knowledge and employers value technical and professional skills. The report emphasizes that jobs are evolving faster than ever due to technological innovations, and the importance for Coloradans of all ages to continue learning and adapting to these changes.

State of Working Colorado 2017
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The State of Working Colorado collects data from a multitude of sources (American Community Survey, Current Population Survey, Current Employment Statistics Survey, etc.) to better understand the state’s economy and help ¬†policymakers make informed decisions. This year’s report has identified several challenges to an enduring and all-encompassing economic recovery in Colorado, including the median hourly wage, which has been flat since the recovery; economic gains, which are increasingly concentrated among a small share of high earners; the fact that not all workers have returned to work; and a persistent race-based economic divide.