Colorado Economic Update

The Bureau of Labor Statistics released better than expected news for July – and the jobs outlook for August should be positive also. HOWEVER, a slowdown or a shallow recession is likely for the end of 2022 or early 2023.

For the past year, there has been a struggle between the headwinds and the momentum of the labor market. Until recently, the labor market was broad-based and infallible. Alas, the rate hikes that will combat inflation have created problems in housing, construction, financial services, and possibly other economic sectors.

For more information about the good news and the challenges, check out the Review of the Colorado Economy through July 2022.