Colorado economic update

The 2018 Colorado economy continues to be a pleasant surprise!

The most recent data from the Bureau of Labor Statistics shows that Colorado private sector wage growth increased by 4.4% in 2017, compared to the prior year. The combination of low unemployment, 2.7%, and strong wage growth has prompted sidelined workers to re-enter the labor force and find a job.

Through the first half of 2018, the state is on track to add 70,100 jobs this year, a level of job growth that was not anticipated by and the state’s other economists when they prepared their 2018 forecasts eight months ago. Colorado job growth has been led by the accommodations and food services; construction; professional, scientific, and technical services; and health care sectors.

The Colorado economy should continue to enjoy solid growth into 2019. For additional details check out the Colorado Economic Review – Through June. The 2018 forecast can be accessed by clicking here.