Colorado and the U.S. continued to add more employees than expected in April. In Colorado, the leading sectors for growth were PST (professional, scientific, and technical services), construction, retail, and AER (arts, entertainment, and recreation).
The momentum in the labor market is evident in the increased employment and wages and the “low” number of unemployed. Also, there is above-average customer demand for goods, services, travel, and housing.
The 2022 Colorado forecast acknowledges the significant headwinds that could put the economy into a recession. Currently, the momentum of the labor market and economic activity exceeds the obstacles. For more details, go to https://cber.co/economic-updates/.