The Colorado economy took another step in the recovery from the COVID-19 lockdown with the addition of 55,000 jobs in June. That is impressive growth, although the number was smaller than expected given the strength of U.S. job growth earlier in the month. The data indicates a majority of the state’s reopening came in May.
Over 90% of the employment gains were in retail and leisure and hospitality. This bodes well for the whole state because tourism and retail are an important part of the economy. In addition, Colorado was one of five states to experience an increase in its unemployment rate, edging up from 10.2% to 10.5%. For more details check out the cber.co Review of the Colorado Economy – Update Through June 2020.
With the passing of time, private and public leaders have learned how to more effectively manage the risk associated with COVID-19 in a way that appropriately balances the health of the country and state with its economic vitality. They have many tough decisions to make in the weeks ahead. Stay safe, stay healthy.