Economic Updates

Monthly Reviews,  Economic Updates, and Benchmark Revisions

New! cber.co Review of  2017 Colorado Employment Data Through May 2017 
BLS data shows that Colorado’s economy is on track to add 50,,600 jobs this year, although activity on the streets suggests that data is understated. Companies of all sizes are adding jobs; however, the 50 to 499 employment category has about 38% of total employees, 4%of total establishments and almost 40% of total wages. Over  a seven year period, about 46% of the total jobs were added in this category.

Recent! cber.co Review of  2017 Colorado Employment Data Through April 2017 
BLS announced that Colorado’s unemployment rate plummeted to 2.3%, a sign that Colorado’s economy is currently operating in an inefficient mode because businesses in most industries are having difficulty finding qualified workers for key positions. The economy is on track to add 47,900 jobs this year, although activity on the streets suggests that data is understated. On another note, BEA released Colorado real GDP data by industry. It shows that Colorado’s real GDP for 2016 grew at a faster pace than the U.S., 2.0% vs. 1.6%.

Recent! cber.co Review of  2017 Colorado Employment Data Through March 2017
BLS recently released data showing  that Colorado is on track to add 50,000 jobs in 2017. Jobs are being added at a rate of 2.0%. This level of growth is modest and below expectations of most economists.

Recent! cber.co Review of  2017 Colorado Employment Data Through February 2017
Through the first two months of 2017, Colorado employment is 48,200 greater than the same period last year. The Strong Growth, Solid Growth, and Volatile Growth categories of industries are all adding jobs at a declining rate. This is thought to be a sign of the normal “ups and downs” of a business cycle  rather than an indication we are headed into a downturn.

Recent! cber.co Review of Revised 2016 Colorado Employment Data and 2017 Employment Forecast
BLS released their benchmark data for 2016 and 2015. The good news is that employment for 2015 was bumped up to 77,000. Throughout 2016, BLS reported that  the state would add about 70,000 jobs. The benchmark revisions bumped the total down to 56,400. 

Recent! cber.co Colorado Economic Update Focus on Manufacturing
This presentation was made to the Colorado Advanced Manufacturing Alliance. It touches on the challenges facing the manufacturing sector and the importance of the sector to the state economy.

Recent! cber.co Colorado 2017 Economic Forecast – Larimer County Workforce
T
his presentation was made to the Larimer County Workforce to address the challenges many Colorado companies are facing, “Where is the talent?” In addition it highlighted the strengths of Northern Colorado and trends in the state economy.

cber.co Colorado Economic Review Through November 2016
The BLS recently reported that Colorado unemployment dropped from 3.5% to 3.2%. Average employment through 11 months of 2016 is 68,600 greater than the same period in 2015.

cber.co Colorado Economic Review Through October 2016
The BLS data shows the state is on track to add 69,400 workers this year. Preliminary estimates show  the Colorado economy has lost some of its momentum. It is likely there will be a downward revision with the March 2017 benchmark revision.

cber.co Colorado Economic Review Through September 2016 The U.S. is on track to add 2.5 million jobs this year with real GDP growth in the 1.5% to 2.0% range.  Colorado is on track to add 70,000 jobs this year, with real GDP growth in the 3.0% to 3.5% range.

cber.co Colorado Economic Review Through August 2016 Colorado is on track to add 69,800 jobs in 2016. In addition, recently released data from the Bureau of Economic Analysis shows the 2015 Real GDP for most Colorado MSAs increased at a rate stronger than the U.S.

cber.co Colorado Economic Review Through July 2016  Over the summer economists have talked about a slowing global economy, secular stagnation, and subpar real GDP growth. Meanwhile the U.S. is on track to add 2.6 million jobs and the state is positioned to add 69,900 jobs in 2016.

cber.co Colorado Economic Review Through First Half of 2016  Colorado continues to enjoy consistent and diversified job growth. The latest BLS report shows the state is on track to add 68,200 jobs in 2016.

 cber.co Colorado Economic Review Through May 2016  The best thing the Colorado economy has going for it now is momentum. The latest BLS report shows the state is on track to add 67,900 jobs in 2016. Current unemployment is 3.4%.

cber.co Colorado Economic Review Through April 2016  The Colorado economic is on automatic pilot. The latest BLS report shows the state is on track to add 69,500 jobs in 2016. Current unemployment is 3.1%.

cber.co Colorado Economic Review Through Q1 2016 BLS released its third data update in a month on April 15th. The most recent release showed the state is on track to add 67,000 jobs in 2016.

cber.co Colorado Economic Review Through February 2016  March was a busy month for the Bureau of Labor Statistics. Earlier, BLS reported that Colorado added 76,300 jobs in 2015. The most recent release showed the state is on track to add 67,000 jobs in 2016.

cber.co Review of Revised 2015 Colorado Employment Data The Bureau of Labor Statistics announced that Colorado job growth for 2014 was revised upwards to 83,000 and 2015 job growth was bumped up to 76,300. The upward benchmark revisions made 2014 the third strongest year of absolute job growth while 2015 was the ninth strongest year.

Projected Revisions to 2015 Wage and Salary Data 

In addition, click here for the Colorado Department of Labor and Employment  projected updates for Q4 2014 and the first four months of 2015.  

Click here to  access the updates that were released on August 26. The updates suggest the current Wage and Salary employment data is understating the job growth in the state.

Monthly Reviews and Economic Updates during 2015

cber.co Employment Review First Eleven Months of 2015.  BLS recently reported the Colorado unemployment rate for November dropped to 3.6%, down from 3.8% in October and 4.3% a year ago. In addition the current data shows that Colorado is on track to add 58,000 jobs in 2015. 

cber.co Employment Review First Ten Months of 2015.   At the risk of sounding like a broken record, Colorado job growth is solid, continues to increase at a decreasing rate. Average Colorado employment through October is 57,900 greater than the same period last year. The outlook remains positive, but there are areas of concern.  Check out the update for details.

cber.co Employment Review First Three Quarters of 2015.     Same story, different month.  Colorado job growth is solid, but increasing at a decreasing rate.  Average Colorado employment through September is 61,000 greater than the same period last year. Check out this update for the latest information on GDP growth by MSA.

cber.co Employment Review First Eight Months of 2015.  Average Colorado employment through August is 63,400 greater than the same period last year. Good news, that number is likely to be revised upwards in the March 2016 benchmark updates! 

cber.co Employment Review First Seven Months of 2015.  For the past week the Colorado air has been filled with smoke. To make matters worse, there has been a streak of bad economic news. The good news is that even during the best of times there are economic concerns; the fundamentals of the U.S. and Colorado economies are solid; and the good sky is not falling! After seven months average Colorado employment is 65,900 greater than the same period last year and that number is likely to be revised upwards.

cber.co Employment Review First Six Months of 2015  Colorado is on track to add at least 68,600 jobs in 2015. In addition data from the Bureau of Economic Analysis shows that state’s Real GDP expanded by 4.7% in 2014, compared to 2.2% for the U.S.

cber.co Employment Review First Five Months of 2015 Average Colorado employment for the first five months of 2015 is 69,800 greater than the same period last year. For this period employment has grown at a rate of 2.8%. As has been the case in the past, the sectors with the top job growth are: Health Care; Accommodations and Food Services (part of the Tourism Industry); Construction; Professional, Scientific, and Technical Services; and Manufacturing. These sectors accounted for almost 71% of total job growth.

 cber.co Employment Review First Four Months of 2015 Colorado added 71,400 workers during four months of the year compared to the same period last year.  Employment grew at a rate of 3.0%.  Department of Labor announces upward revisions.

cber.co Employment Review Q1 2015 Colorado added 74,800 workers during Q1 compared to the same period last year.  Employment grew at a rate of 3.1%.

cber.co January/February Employment Review March 2015  The BLS released jobs data for February showing the state is adding jobs at a rate similar to 2014.

cber.co 2014 Employment Review March 2015  The Bureau of Labor Statistics released its benchmark update for 2014. The revisions showed the BLS models understated the actual job growth in the state. In 2014 Colorado added 78,900 jobs, led by the Construction; Health Care; and Accommodations and Food Services Sectors.

cber.co Preliminary Estimate of Colorado Job Growth in 2014.  The Colorado Department of Labor and Employment released the November jobs data stating the state lost 2,500 jobs in  in November. DON’T BELIEVE IT! The state is on track to add 73,000 jobs in 2014. 

cber.co 2014 Review of Colorado Economy – Analysis for First Ten Months of 2014.  The Colorado Department of Labor and Employment delivered a jobs report that was somewhat of a turkey. It showed that the number of jobs added were weaker than anticipated for three of the past four months. Time will tell whether that represents a slowdown or a glitch in the model used to produce the labor estimates.

cber.co 2014 Review of Colorado Economy – Analysis for First Nine Months of 2014. Last month the Colorado Department of Labor and Employment reported that the state lost 700 jobs during the month of August. NOT! The state is on track to add 65,200 jobs in 2014, prior to benchmarking and annual revisions. At that point, the number of jobs added this year will be revised upward to exceed 70,000.

cber.co 2014 Review of Colorado Economy – Analysis for First Eight Months of 2014. It was reported by the Colorado Department of Labor and Employment that the state lost 700 jobs during the month of August. This “news”  is not supported by other data or activity on the street. The foundation of the Colorado economy continues to be solidI

cber.co 2014 Review of Colorado Economy – Analysis for First Seven Months of 2014. Through seven months, the state has added 67,300 jobs compared to the same time a year ago.

cber.co 2014 Review of Colorado Economy – Analysis for First Six Months of 2014. Job growth continues to be solid through the first half of the year. CES data shows the state has added 67,000 jobs compared to a year ago.

cber.co 2014 Review of Colorado Economy – Analysis for First Five Months of 2014.  CES data shows the state has added 67,100 jobs compared to a year ago. The QCEW data from the BLS indicates the number of jobs added in 2014 could exceed 74,000.

cber.co Review of Colorado Economy – Analysis of Q1 2014 Employment Data! Nationally, the economy struggled during Q1. On a positive note, there are signs of stronger growth in Q2, followed by solid growth through the end of the year. As a result, Colorado will add at least 71,000 jobs in 2014.

Review of prior year with March benchmark data 

cber.co 2013 Employment Review. The Bureau of Labor Statistics recently released their update of employment for 2013 and it showed the state added jobs at a much greater rate than anticipated. Colorado added 68,100 jobs in last year.

cber.co 2012 Employment Review. The BLS benchmarked data for 2012 shows that Colorado added 52,100 employees in 2012.


Monthly employment reviews and economic updates  for 2013.

cber.co Employment Review – First Ten Months of 2013. Colorado continues to add jobs, although there is a significant slowdown in the rate of growth. The state is on track to add 55,000 jobs this year.

cber.co Employment Review – First Eight Months of 2013. Colorado continues to add jobs on a steady basis, although the rate of growth began to decline in Q2. On average 58,500 jobs have been added compared to the same period last year.

cber.co Employment Review – First Seven Months of 2013. Despite ongoing concerns about the lack of primary job creation, Colorado job growth remains solid.

cber.co Employment Review – First Half of 2013. Same story as last month. Solid, but growth at a slower rate. Concerns about the lack of primary jobs being added.

cber.co Employment Review – First Five Months of 2013.

cber.co Employment Review – First Four Months of 2013.

cber.co Employment Review – Through Q1 2013.

 

 

 

 

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Tracking the Colorado economy is like skiing. At times the skiing is good. Other times it is tenuous or too fast. Sometimes you crash or go backwards. In time you get headed in the right direction again.