The recent release of employment data shows Colorado’s path to recovery has slowed, but it remains positive. Colorado employment for July was 92.6% of the December 2019 total. This is slightly above the rate for the U.S., 91.8%.
The addition of jobs in the following sectors will accelerate the recovery in Colorado: professional, scientific, and technical; management of corporations (headquarters); information; manufacturing; and warehousing.
In addition, construction and financial activities are bellwether sectors that indicate growth. Both are pointed in a positive direction.
The recovery will take longer for the following sectors: leisure and hospitality, state and local government, extractive industries, wholesale trade, other services, and administrative services.
For more information about the good news and the challenges, check out the cber.co Economic Trends for Colorado Through July 2020. Since June, the monthly update includes a revised forecast for 2020.
Have a safe and enjoyable Labor Day weekend.