In 2023, the Colorado forecast called for a recession. Fortunately, that did not happen. Likely, it will occur in 2024. Employment increased by 60,000 in 2023, but job growth will be much slower in 2024.

Colorado will continue to be challenged by many problems left over from 2023. Housing permits (a leading indicator) will remain lower than usual, the office vacancy rate in Denver is around 30%, retail sales have slowed, inflation will remain higher than in other states, and companies will continue to struggle to find workers despite low unemployment rates. For details, go to https://cber.co/economic-updates/.