The recent release of Colorado employment data shows the Colorado economy continues to add jobs, albeit at an uneven and much slower pace than during the pandemic recovery. The year-over-year change for June 2024 was only 40,900.

The good news is that the state is in positive territory; however, employment in the private sector increased by only 19,800. It is necessary to have effective and efficient government (federal, state, local); however, the state economy is not hitting on all cylinders when over half the jobs added are in the government sector, and job growth is not broad-based.

For June, the notable increases were small and limited to the Other Services (personal services), Wholesale Trade, and Government sectors. The largest decreases were in the Construction, Information, Retail Trade, TWU, Information, and AER (a segment of Leisure and Hospitality) sectors.

There is good news in the “Looking into the Future” category. Colorado received a significant EDA grant to develop a Quantum Tech Hub for the United States, https://www.elevatequantum.org/.

For additional details, check out the cber.co Review of Colorado Economy – Update Through June 2024.