Surprisingly, the Bureau of Labor Statistics reported that Colorado’s seasonally adjusted employment increased by 17,700 in October, and unemployment rose to 3.6%. Typically, the BLS data makes sense – the recent report is an anomaly. There have been nine months since January 1990 when over-the-month employment increased by more than 17,700 - eight times were during the pandemic and in April 1999.
Good news is always welcome, but this report is like a chunk of fool’s gold. Most of the data points to a recession in the months ahead. At the top of the list are high inflation, interest rate increases, slowing housing market, and layoffs at financial institutions and high-tech companies. For further details, check out the Review of Colorado Economy – Analysis Through October 2022.
Finally, you are encouraged to view the videos, presentations, handouts, and information from the 2022 Annual Colorado Demography Summit. Click here.
Stay safe and Happy Thanksgiving to you and your family and friends.
Gary Horvath
303.460.9767
cber.co
Original source can be found here.
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