There are some treats and a few tricks in the October economic update.
Nationally, the data shows that on average about 200,000 jobs are being added each month this year. The trick is that number will be lowered to about 170,000 jobs per month in the upcoming benchmark revisions.
The U.S. and Colorado unemployment rates, 3.5% and 2.7%, are both a treat and a trick. On one hand, they are many signs of a solid economy, but on the other hand companies are struggling to find workers to fill essential jobs.
Colorado’s job growth continues to be diversified, manageable, and much stronger than anticipated at this time last year. The treat is that Colorado is on track to add 52,400 jobs this year. The trick is that the slowing global economy is will impact the economic growth of the U.S. and Colorado.
For more details check out the cber.co Economic Trends for Colorado Through September 2019.
Now for the frightening seasonal statistics! The National Retail Federation expects Halloween 2019 spending to be $3.2 billion on costumes, $2.7 billion on decorations, and $2.6 billion on candy. In addition, the top costumes for pets will be pumpkins, hot dogs, and superheroes.
Happy Halloween and don’t forget to vote!