The recent release of wage and salary employment data by the Bureau of Labor Statistics showed a decline of 8,900 in February. The decrease occurred because of the recent strike by King Soopers. (There will be a revision next month). Even without the strike, growth would have been weak. In addition, January employment was revised downward from an increase of 3,900 to 500.

It is scary! February 2025 employment is only 500 greater than a year ago.

Over the month, healthcare employment increased by 2,200, construction added 700, and the Professional, Scientific, and Technical (PST) sector increased by 700. (The PBS sector, which includes PST, declined by 800).  Government employment increased by 1,400.

The weak growth puts Colorado in a precarious position. The state budget had a $1.2 billion shortfall that will present challenges and program cuts in upcoming years. Despite the good things happening in the Colorado economy, the state is not in a position of strength to deal with federal policies that might negatively impact GDP and employment.

For the details of the February update, go to https://cber.co/economic-updates/.