There is both good and bad news in the latest Bureau of Labor Statistics (BLS) employment situation press release.

First, the good news! Colorado added 7,200 jobs in April. In addition, March employment was revised upward by 3,000, and the Colorado unemployment rate remains at 2.8%. On a side note, the Colorado Labor Market Information (LMI) has produced reports that suggest Colorado employment may be revised upward in future updates. Hopefully, that is the case!

Now for the bad news. The intensity of the headwinds continues to increase, and the prospects of a near-term recession are likely. At best, inflation will approach the Fed’s target rate in the second half of 2024, and economic activity will improve at that time.

For details, go to May economic update with April data, https://cber.co/economic-updates/.