The recent release of the 2020 Bureau of Labor Statistics (BLS)benchmark data showed that Colorado lost more than 145,000 jobs last year. Most likely the state will return to its 2019 employment level by 2023. That will be shorter than the recovery from the Great Recession.
At the same time, there is plenty of good news. Strong economic activity is on tap for Q2 and Q3 of this year. By the end of 2021, a number of the state’s sectors will have returned to their 2019 level. Click on the following link, https://cber.co/economic-updates/, to learn more about growth projections for the U.S. economy and how the different Colorado industries and geographic areas fared in 2020. To check out the 2021 Colorado Forecast click here.
By the end of March, BLS will publish data through February. Expectations are the data will show the state’s economy has started 2021 on a positive note.