Blog

Professional, Scientific, and Technical Services – Key to Colorado Recovery

The Professional, Scientific, and Technical Services (PST) sector is critical to the state. Companies in the sector provide engineering and architecture services, conduct scientific research, and manage computer systems. Of particular note, the sector is composed of companies from the various high-tech clusters (photonics, biosciences, nanotechnology, homeland security, IT, etc.).

PST accounted for about 10.6% of state private sector Real GDP in 2010. Between 1997 and 2010 it expanded at an annualized rate of 4.4% versus 3.4% for the Colorado private sector.

Average annual private sector PST Colorado wages for 2010 (most current year available) were $79,623, compared to $47,916 for the overall state average. In 2010, the Colorado PST sector accounted for 9.1% of total private sector employment. Between 1997 and 2010, the sector added employment at an annualized rate of 2.1% compared to 0.7% for the state.

The Healthcare, Higher Education, Tourism, and Extractive industries are leading the recovery. PST is next. It has added about 9,100 jobs since the low point in 2010.The sector has recovered about 78% of the jobs lost since peaking in 2008. If the positive employment trends continue, that level will be reached later this year.

It’s a long slow road to recovery.

For a more complete update on the recovery of the Colorado economy, go to https://cber.co/.

©Copyright 2011 by CBER.

May Employment Numbers Disappointing, but not Surprising

Several months after the 2007 recession began, some economists projected the economy would not recover until 2014. Six years sounded like it was much too long, particularly since the country had just gotten back on its feet from the 4 1/2 years of the 2001 recession and recovery. The most recent announcement by the Bureau of Labor Statistics (BLS) illustrates how the ongoing lack of primary job creation has caused the recovery to be so long and painful.

On June 1, the monthly BLS press release stated, “Nonfarm payroll employment changed little in May (+69,000). Employment increased in health care, transportation and warehousing, and wholesale trade but declined in construction. Employment was little changed in most other major industries.”

If Colorado is growing at the same pace as the U.S., the BLS will announce, later in the month, that the state will post a gain of about 1,200 jobs in April. (Colorado nonfarm employment is about 1.72% of the U.S. total.)

When this release hit the newswires, the equity markets tanked. In addition to the weak job gains, investors were worried about Greece’s debt problems, U.S. debt, the recession in parts of Europe, the slowdown in the Chinese and Indian economies, and much more. While these are clearly legitimate concerns, the decline in employment should not have come as a surprise. Past economic forecasts prepared by The Conference Board foretold of the pending dip.

TCB has forecasted that 2012 output will be at its lowest level in Q2. It stands to reason that subpar output will be accompanied by weak employment growth for April, May, and June. On a positive note, output (consumption, housing starts, and capital spending) is projected to improve slightly in Q3 and Q4. The average rate of output growth for the year will be about 2.2%. This suggests that employment will improve along with the increased output. Next year, 2013, will only be slightly better. The good news is that the trends are in a positive direction.

The recovery will continue to be painfully slow for a number of reasons:
• According to the TCB, output in advanced economies is growing at a rate of 1.3% – worse than the U.S. The emerging economies have stronger growth, 5.6%. Colorado companies that export agricultural and manufactured goods may have greater opportunities in emerging countries.
• The number of federal workers continues to decline.
• The intent of the stimulus funding was to create private sector jobs. Those jobs were supposed to kick in when stimulus funding was reduced. Unfortunately, too few private sector jobs have been created and funding is being diminished. This makes the stimulus efforts appear to be ineffective.
• Although revenues have improved for many state and local governments, their budgets remain tight. In Colorado, state employment is flat and local governments have fewer jobs than one year ago.
• Overall inflation has been kept in check; however, energy prices, and the prices of other commodities, are noticeably higher than when the recession started.
• The construction and housing markets have not rebounded as quickly as anticipated. Colorado construction employment is at the same level as it was in the mid-1990s, although it is finally trending upward.
• Companies have been able to meet their sales targets by investing in capital rather than labor. Productivity gains have allowed companies to maintain a competitive position without adding workers. At some point in the next 18-24 months this will change and companies may be forced to add workers.

The latest job numbers are disappointing, but not surprising. There will be slight improvement in the second half of the year, with continued volatility in 2013.

Continued patience is required. At the earliest, 2014 will be the year when stronger growth can be expected.

 

©Copyright 2011 by CBER.

Warmer Weather – A Source of Job Creation?

Recently, a local economist hypothesized that the recent strength of the Colorado economy was correlated with a warmer winter. The rationale for this hypothesis was that warmer weather may have benefitted outdoor sports such as golf courses, biking, rollerblading, and so forth. In addition, the economist surmised that retail sales would be stronger because warmer weather was more conducive to shopping and increased construction activity.

On one hand, the warmer weather theory sounded plausible because the weather “seemed” milder this winter, but on the other hand it sounded like it was full of hot air.

Premise 1 – The winter was warmer.
If heating degree days are the defining factor for how cold a winter is, then the period October 2011 through March 2012 was negligibly colder than the prior year. For this six month period, the most recent October, December, and February were colder, the two Novembers were similar, and January and March were warmer this year. (A larger number means it is colder, more heat is needed to heat a building).

October 2010         174 heating degree days
November 2010     645 heating degree days
December 2010     789 heating degree days
January 2011          925 heating degree days
February 2011        863 heating degree days
March 2011             513 heating degree days
Total                      3,909 heating degree days

October 2011          312 heating degree days
November 2011      636 heating degree days
December 2011  1,058 heating degree days
January 2012           763 heating degree days
February 2012         935 heating degree days
March 2012              364 heating degree days
Total                       4,068 heating degree days

Possibly it seemed warmer, because there didn’t seem to be snow on the ground that often. A comparison of snowfall for the metro area shows that there was 2.5 times as much snow this past winter as the prior year.

October 2010         none
November 2010    1.5 inches
December 2010    3.3 inches
January 2011         8.0 inches
February 2011       5.3 inches
March 2011            2.5 inches
Total                      20.6 inches

October 2011         8.5 inches
November 2011    4.5 inches
December 2011 16.5 inches
January 2012        4.9 inches
February 2012    20.2 inches
March 2012         none
Total                     54.6 inches

It is truly a shocker to learn that the past winter was actually colder and wetter than the previous year. The timing of the storms, the lack of wind, or some other factor must have created the perception that it was warmer this past winter.

Even with greater snowfall in the metro area, snowpack is below average and 95% of Colorado is reportedly in drought conditions. Two significant forest fires have occurred and summer hasn’t arrived.

Conclusion: Premise 1 is FALSE.

Premise 2 – The warm weather resulted in increased participation for local sporting activities.
There is no easy way to prove this. HOWEVER, the lack of snow in the ski country, at the right times, was in part responsible for diminished lift ticket sales – a decrease of more than 7%. Ouch that hurts! Not only did the lack of snow hurt ski business it will play havoc with rafting businesses this summer.

Conclusion: #2 Possibly true in the metro areas, FALSE in ski areas.

Premise 3 – Warm weather means stronger retail sales.
This is an interesting concept that is difficult to prove. Cold and snowy weather on key shopping days have reduced retail sales during past Christmas shopping seasons, but there is no evidence that warmer weather has increased trade sales. Retail sales are noticeably higher compared to a year ago, but that is attributed to more people working than last year at this time. And in some cases, sales are higher because retailers have finally been able to raise prices. Sales may be higher in the metro areas, but they are probably below expectations in the ski country because of reduced traffic.

Conclusion: #3 – Possibly true in the metro area, FALSE in ski areas.

Premise 4 – Warm weather means increased construction activity.
For the six month period October to March there were 114,500 construction workers this year versus 113,300 last year. Last June, the Construction sector finally bottomed out from the 2007 recession and has been slowly adding jobs since. The big boost of construction jobs in January is more likely a result of improved economic conditions than warmer weather.

Conclusion:#4 – Inconclusive.

One of the fun things about economics is dissecting “grassy knoll” or “warmer weather” theories to see if they are true, partially true, or false. In this case, it is highly improbable that the “warmer” weather was a source of net job creation. The gains in revenue at Denver golf courses, bike shops, and shopping malls were offset by losses on the ski slopes and sales in mountain t-shirt shops, hotels, and restaurants. The warmer weather will also result in a dismal rafting season and increased costs for fighting forest fires.

For a more complete update on the recovery of the Colorado economy, go to https://cber.co/.

©Copyright 2011 by CBER.

Congress Votes to Slash Funding for Data Producers – Again

Business and government leaders in the U.S. are fortunate to have a wealth of statistical data to guide their policy decisions. For the most part, the programs that produce the data have integrity and they try to provide the best data possible.

Periodically, Congress attempts to eliminate some of the federal government statistical agencies. On May 17th, the National Association of Business Economists distributed emails to members and friends discussing the latest attempt by Congress to reduce funding for key data programs.

While government doesn’t need a blank check to collect information, the data that will allegedly be eliminated is valuable in the decision-making process. Hopefully Congress will find a fund collection and production of the data in an efficient and cost effective manner.

See the NABE communiqué below.


Dear NABE Members and Friends:

Last week, we alerted you that the U.S. House of Representatives was considering an appropriations bill for Commerce, Justice, Science, and Related Agencies (H.R. 5326) that would drastically reduce funding for the Census Bureau and make participation in the American Community Survey voluntary. Thanks to the many NABE members and other data users who contacted their representatives to try to prevent this action. Regrettably, the legislation ultimately passed the House along party lines and was much more damaging than originally proposed.  In its current form, H.R. 5326 will “devastate” the nation’s economic statistics.

Specifically, the legislation will:
•Terminate the American Community Survey;
•Cancel the 2012 Economic Census; and
•Halt development of cost-saving measures for the decennial census.

NEXT STEPS:

The Senate is expected to take up its own FY2013 Commerce, Justice, Science, and Related Agencies appropriations bill shortly. The Senate and House versions of the bill will then presumably be addressed by a conference committee comprised of members of both bodies.

HOW YOU CAN HELP:

Call or email your senators and representative today to tell them why you value the Economic Census and the American Community Survey. You can use this sample letter below:

Dear(Senator/Representative):

I am writing to express my concern over passage of H.R. 5326 by the U.S. House of Representatives, which would drastically cut funding for the U.S. Census Bureau and eliminate the Economic Census and the American Community Survey (ACS) – two of the most important tools we have for understanding the U.S. economy.

These programs are critically important to businesses, policymakers, and government agencies which use the data to make informed decisions and plan for the future. The increased uncertainty accompanying the loss of these data will most certainly result in more missed opportunities and waste for businesses and misallocation of resources by policymakers and government agencies. I urge you to ensure that the Census Bureau receives adequate funding to continue these vital programs.

How are Economic Census data used?
•By the federal government as an input to calculate elements of key economic indicators, such as economic growth (GDP), prices, and productivity;
•By retailers in evaluating whether to expand into new market geographies;
•By economic development commissions in attracting new businesses to their areas; and
•By companies to benchmark performance against industry averages

How are ACS data used?
•By corporations to examine workforce characteristics of neighborhoods to determine optimal locations for new factories or sales centers;
•By homebuilders looking to tailor new subdivisions to surrounding neighborhoods based on income, family size and existing home values; and
•By municipal governments in planning to meet the educational, safety and housing needs of their citizens.

The information we glean from the Economic Census and the ACS increases our understanding of current economic  conditions and reduce uncertainty, allowing businesses and policymakers to make well-informed, efficient decisions.

If we eliminate these programs, we are choosing to “fly blind,” an alarming proposition in these challenging economic times. Again, I urge you that you vote to ensure adequate funding for both the ACS and the Economic Census.

Sincerely,

(Your Name)

 

©Copyright 2011 by CBER.

2012 Undergraduate Business School Rankings – DU is State’s Top Business School

Higher education is big business. There are commercial training programs to help students navigate the K-12 system, pass the college entrance exams, and select the right college based on published rankings.

In late March, Bloomberg Businessweek produced the 2012 ratings for 124 undergraduate business programs (additional information can be found at www.businessweek.com). They use nine different measures of student satisfaction, post-graduation outcomes, and academic quality to determine the overall rankings.

The following rankings, from Bloomberg Businessweek, show scores for Notre Dame, the top ranked school, and the three largest Colorado undergraduate programs.The Daniels School is clearly the top ranked undergraduate business school in Colorado, yet it is rated near the bottom of the second quartile of schools. CU and CSU have similar ratings and are on the border of the fourth quartile.

The Leeds School is ranked in the bottom quartile in all of the core subject matters. (The state deserves better from its flagship institution).

CU and DU are in the top quartile for their sustainability and ethics classes respectively. If CU and DU are good enough to be top ranked in specialty programs, why aren’t their core classes stronger?

Of the three schools, CSU is clearly the best buy, in terms of cost and quality.

Over time there is usually minimal variance in the rankings, i.e. schools move up and down within a certain range. When looking at rankings over several years it is important to note that there has been a steady increase in the number of schools ranked.

In 2008 Notre Dame was ranked 3rd of 96 schools. It has obviously improved in the rankings, although it didn’t have far to move. It is now 1st of 124 colleges.

Of the Colorado schools, the Daniels School at the University of Denver has improved the most. It was ranked 67th of 96 (70%) in 2008 and is now 57th of 124 (46%) in 2012.

The business school at Colorado State University has stayed the same. It was ranked 73rd of 96 (76%) in 2008 and is now 94th of 124 (76%). It remains in the bottom quartile of schools for its overall ranking.

And the Leeds School has escaped the bottom quadrant (barely). In 2008 it was ranked 83rd of 96 (86%) and it is now 92nd of 124 (74%).

These rankings are much like the BCS rankings in football. They are meaningful to the schools in the upper echelon and provide prestige and bragging rights. As well, they help the schools attract quality students and donors to the program.

The schools below the elite level have deficiencies, based on the ranking criteria. Many college officials tend to respond by saying, “The rankings don’t really matter” or “They just don’t take into account the challenges we face.” or “The criteria don’t really capture what a great school we are.”

There are many variables for measuring the quality of a business education. Most importantly, students must find a program that meets their individual needs. Then they must demonstrate willingness and motivation to learn. When that happens the rankings are irrelevant.

 

©Copyright 2011 by CBER.

HB 12-1061 Skills for Jobs Act – Challenges for Meeting Workforce Needs

On April 2, 2012 the Governor signed HB 12-1061, known as the Skills for Jobs Act. In a nutshell, the new legislation mandates an annual report that looks at the relationship between education degrees, awards, and certificates and the needs of the state workforce.

The intent of the legislation is to increase efficiencies within the education system during times of reduced funding for K-12 and higher education. The reports are intended to provide knowledge and motivation to reduce or eliminate redundancies, cut back on degree programs that don’t lead to jobs, expand existing programs, or develop new ones.

In an ideal world, students will graduate from college and will have adequate training to enter a job in their field of study with a company in Colorado. At the same time current workers will be able to find training that would allow them to retain their jobs or advance their careers. In addition, unemployed workers can receive training that allows them to find a job in the ever-changing workplace. The ideal training system eliminates the severe skills mismatch that currently exists between unemployed workers and the needs of the private sector.

There are unintended consequences that might arise from this piece of legislation. The following questions and comments consider some of these consequences as well as other issues related to HB 12-1061. The presentation of these ideas is not intended to support or oppose the new act. The purpose is to stimulate discussion about the issue.

Meeting the needs of our workforce is critical to our national security, competitiveness, innovation capabilities, and our world leadership position. And it makes sense (and cents) to meet these needs in a cost effective manner.

The questions and comments are divided into five areas.

1. Training and education have become a big and lucrative business. Who should determine the classes taught by the public sector and those taught by the private sector? For example, it has been demonstrated and accepted that the private sector is better suited to provide training in computer systems certification programs. Should other disciplines such as business, music, and foreign language also be taught exclusively by the private sector? In another example, partnerships between the public and private sectors have benefitted all parties. A case in point is the Laboratory for Atmospheric and Space Physics at CU-Boulder. As part of their education experience, students can track satellites and secure internships with local aerospace companies. In this case, a degree with an internship virtually guarantees a job. In other words, some degrees are more likely to result in a job than other degrees. What about degrees, such as liberal arts or general studies, which do not directly prepare a student for a particular job? Are they more valuable because they provide students with a broad perspective of ideas and prepare them for many jobs or less valuable because they don’t prepare a person for a targeted position? When measuring the effectiveness of higher education, how do you account for a person who receives four years of education in their area of choice, then after working in that profession for six months decides they don’t like it and seeks employment in another area? And how do you account for the individuals who obtain a degree, but work in occupations that don’t require advanced education? The process of matching supply and demand might be accomplished more efficiently if students were required to take a battery of tests and limited to areas of study where they were the strongest. Would such an approach be too Draconian?

2. This leads to the age-old debate about the role of higher education. Is the purpose of our college and universities to train the workforce or is it to provide a safe haven for students to learn and grow up? Or are there other reasons to have higher education? Are students entitled to have a free or inexpensive college experience? Do college leaders and the public have the same perception about the role of higher education in society? Is higher education obligated to offer classes in areas that are a financial drain to the university, such as ethnic studies or the arts? In a similar light, is higher education obligated to provide courses in areas where there may not be a critical mass of students? This includes subject matters that might lead to future growth of the U.S. economy, such as cutting edge courses in nanotechnology, RFIDs, astrophysics, or molecular biology? Are programs that are cash cows more important than other programs? How do you apply university research to the classroom? How does commercialization of research fit into the education process? Should higher education have two sets of faculty – one to teach and one to conduct research that generates revenue and notoriety for the university? What role does experiential learning have in the education process? How do you ensure that degree and certifications are of the highest quality given the escalation of faculty wages, reduced state funding, increased donor funding, and donors who expect to have input into the development of curriculum? How do you deal with the diminishing perception of higher education? Has higher education been out of control for a long time? Are futurists and former education leaders justified in foretelling of a higher education bubble? Is higher education at fault for massive student debt because they have effectively marketed their services or does that blame lie with students who made poor business decisions? Will this massive debt cause future students to look at professions that do not require college degrees?

3. When developing education and training programs, how do you account for changes in the economy? During the 1990s, the high-tech clusters expanded at an unsustainable rate. Is it realistic to expect higher education to provide a trained workforce during such rampant periods of growth? Over the past decade many of the same clusters experienced a number of layoffs. Why would anyone want to pursue those occupations (engineers, software developers, hardware manufacturers) after experiencing a decade where no net jobs were added? How can companies forecast workforce demand and higher education provide an ever-changing workforce during such boom and bust cycles? How do you develop training programs for jobs that didn’t exist 20 years ago such as web designer, application developer, or games programmer? Should higher education focus more on providing a set of transferable skills or should they focus on training workers for specific occupations? Colorado only has about 2.2 million wage and salary workers, or less than two percent of the U.S. workforce. Those workers are in a wide array of industries spread across 64 counties. How do you provide training programs in topical areas and geographic regions where there is frequently not a critical mass of workers to run a program?

4. Over the last 35 years, the state has adopted fiscal policy that allows local colleges and universities to bolster their coffers by accepting a higher percentage of out-of-state students. Is it appropriate for Colorado’s universities to be training employees for other states and countries? What contributions do out-of-state students make to our higher education system and business community?

5. Will the required reports from HB 12-1061 cause college officials to take steps to adjust their admission requirements so their graduating students will have the degrees to meet the needs of the workforce? Will future college funding be based on the ability of the schools to meet the needs of the local workforce? Will future scholarships be given to those students seeking degrees that will fill occupations most critical to the state’s economy? Will students in “non-essential” areas be prevented from scholarship opportunities? How do you mandate or encourage participation in programs for machinists, lineman, and manufacturing technicians when they are not perceived as sexy occupations by many? What happens if you train 300 people for renewable energy jobs and only 6 of them are able to find jobs (this actually happened in a federally funded program in Colorado)? Colorado colleges graduate approximately 30,000 students a year with four-year degrees. In other words, about 150,000 students were added to the pool of potential workers between 2007 and 2011. Given the dire economic conditions at that time, how many of these graduates found jobs in their degree? Was there a surplus of degreed students? What happened to students who didn’t find degrees in their jobs? Do colleges and universities have an obligation to prevent students from entering degree or training programs where there is an obvious surplus?

There is sufficient evidence that the public and private sectors have collaborated over the years to meet the workforce needs of the private sector. Some of these efforts have been more successful than others.

Hopefully, HB 12-1061 will strengthen the partnerships that have been built in the past, higher education, and the private sector. The challenge of identifying and training workers to meet the demands of the workforce is much more easily debated than achieved.

 

©Copyright 2011 by CBER.

Construction Finally on the Uptick

Construction was hit harder than most employment sectors during the Great Recession. For a number of years Colorado has had an oversupply of construction workers, relative to other industries. That has significantly lengthened the time of recovery.

Nationally, seasonally adjusted employment peaked in April 2006 at 7,726,000 workers. The number of workers declined with the Great Recession and appears to have bottomed out in January 2011 at 5,456,000. A total of 2,270,000 workers lost their jobs over that 57 month period. Since bottoming out, only 95,000 construction jobs have been added in 14 months.

There was a similar pattern for Colorado, but not as severe. Construction employment peaked in July 2007 at 170,100. It declined with the recession and appears to have bottomed out at 110,400. A total of 59,700 construction jobs were lost over this 47 month period. Since reaching bottom, 6,500 construction jobs have been added in nine months.

To put this in perspective, national tourism employment moved from peak-to-trough-to-peak in 50 months, while it took Colorado tourism employment 44 months to make the same journey. It has taken the Construction sector longer to go from peak-to-trough than it took the tourism industry to lose jobs and regain them.

On April 24, 2012 Aldo Svaldi of the Denver Post reported that the number of homebuilders in the state declined by 80%, a decrease of 2,903 to 616 builders.

Holy Moly Batman!

For additional information on the overall economy go to the cber.co website.

For additional information on the construction industry check out the cber.co report,Colorado’s Construction Industry – Impact Beyond the Hammers and Nails .

 

©Copyright 2011 by CBER.

Leisure and Hospitality Leads the Recovery

The Leisure and Hospitality (L&H) Sector has played a critical role in the recovery of the national and state economies. It is important because of the number of jobs added and because it is part of the economy in every county in the state.

Nationally, seasonally adjusted employment peaked in December 2008 at 13,560,000 workers. The number of workers declined with the Great Recession and in March 2012 employment surpassed that previous peak, reaching 13,587,000. It took 50 months for the sector to go from peak-to-trough-to-peak.

There was a similar pattern for Colorado. L&H employment peaked in May 2009 at 276,000. L&H Employment declined with the recession and in January 2012 it surpassed the prior peak at 277,800. It took 44 months for the state sector to recover.

While 50 and 44 months is a long time, it is possible that the overall state economy may take close to six years before it reaches the 2006 peak.

Nationally, the time from peak to trough was 24 months, or two years. During this time 637,000 jobs were lost. The recovery period was slightly longer, 26 months.

At the state level, the time from peak-to-trough was 20 months. About 16,000 jobs were lost during this period. The recovery period was 24 months.

It is depressing to consider some of these number; however, it is even more unsettling to think that these numbers describe one of the state’s stronger sectors.

For additional information on the overall state economy go to the cber.co website.

©Copyright 2011 by CBER.

Colorado’s Recovery is Broad Based and Includes Primary Jobs

Within the past month, there have been several reports citing how Colorado has one of the faster growing economies in the country. This is good news, but it must be remembered that for several years local economists were saying, “Thank God for Nevada, if it weren’t for them Colorado would have the worst economy in the country.” Part of the reason for the comparatively “strong growth” is about 150,000 jobs were lost in the Great Recession and our current tepid growth looks great compared to job losses.

Case in point…  Job losses in Colorado’s Construction sector have been so severe that employment is at mid-1990s levels. The Manufacturing sector declined for 12 years. It is just now beginning to add jobs again. Despite the build out in the Retail Trade sector, employment has been volatile over the past decade. Today it is similar to the late 1990s and retail Trade jobs are up 4,600.

With increased population in the state growth is inevitable in these sectors.

The real story is that the Colorado recovery is broad-based and it is includes primary jobs (jobs that create wealth).

The recovery has been led by the Tourism and Health Care sectors. They are sectors that add jobs in all areas of the state. There are very few primary jobs in either sector. They account for 19,000 of the 47,300 jobs added when comparing Q1 2012 to Q1 2011.

The Manufacturing and Professional Scientific sectors have added a combined total of 7,700 jobs. Many of these are primary jobs.

Colorado has added 3,900 jobs in the Employment Services sector – The addition of temporary jobs is considered a harbinger that the economy is improving.

Only two sectors recorded significant job losses during this period. Combined, the Information and Local Government, excluding schools, sectors declined by 5,700 jobs.

For additional information go to https://cber.co.

©Copyright 2011 by CBER.

DIA Passenger Growth – Another Sign of Improving Economy

Denver International Airport had 52.8 million people pass through its gates in 2011. This represents a 1.7% increase over the 2010 total of 52.0 million passengers. It is also the fourth consecutive year for DIA to see more than 50 million travelers. These totals place DIA as the fifth busiest airport in the U.S. behind Atlanta, O’Hare,Los Angeles, and Dallas-Fort Worth.

While some carriers have decreased capacity, state and local officials continue to bring additional carriers to the area. Icelandair and Spirit will add flights to Denver in 2012.

This good news is another sign that the national and state economies are showing improvement.

 

©Copyright 2011 by CBER.