Good news on the economic front!
Colorado continues to outpace the nation in its rates of employment and real GDP growth. If employment continues to expand at its current rate, 1.9%, Colorado will add 50,700 jobs in 2019.
June marked the 57th consecutive month for the state’s unemployment rate to be below 4.5%. The current rate is 3.0%, compared to 3.7% for the U.S. Where are Colorado companies finding qualified workers to fill open positions?
The Fed expects to see “sustained expansion of economic activity”, but it is posed to decrease rates as a result of uncertainty about possible headwinds. The state is in position for solid growth in the second half of 2019, given the Fed’s stance and the state’s consistent and diversified performance of the economy through the first half of 2019.