The recently released data from the Bureau of Labor Statistics (BLS) shows Q1 2018 Colorado employment is 66,900 jobs greater than Q1 2017, a growth rate of 2.6%. On average, the state is adding about 5,600 jobs per month. This rate of growth outpaces the forecasts of most of the state’s economists.
The Philadelphia Federal Reserve stated on its website that all 50 states are projected to show growth for the next six months! In other words, the U.S.and Colorado economies are on cruise control. They are showing steady, manageable, and broad-based growth.
Admittedly, there are headwinds. The state’s low unemployment rate is preventing the economy from growing at a more rapid pace. Companies are struggling to find qualified and clean workers to fill key positions. There are concerns about too much congestion, drought conditions, the lack of affordable housing, and the lack of funding for infrastructure. While those concerns are real, the economy is strong enough to offset them in the near term.
Spring is here and so is baseball – don’t miss the Play Ball! exhibit at the Colorado History Museum.
information via Gary Horvath