Are we going to be affected by a recession? That is a recurrent question.
Colorado’s economy is expected to continue to slow in 2019, according to the 44th Colorado Business Economic Outlook from the University of Colorado Boulder. The economy is slowing because of a slowing U.S. economy, a settled labor force and high interest rates.
The unemployment rate is around 3%, a lot of new job offers are popping: 56,200 last year, a growth rate of 2.2 percent, they added 65,000 this year, a growth rate of 2.4 percent. In 2019, the expectation is for 53,200 jobs, or a 2 percent rate of job growth. The three big sectors driving job gains in 2019 will be professional and business services, trade, transportation and utilities and leisure and hospitality. The amount of job offers that remain unfilled is though concerning. Colorado’s unemployment rate is very low, 2.8 percent in 2017; and it is around 3 percent and should increase up to 3.1 percent in 2019.
The Outlook is predicting for the U.S. economy to grow 2.7 percent in 2019. But it warns that several issues could change that forecast, nationally and locally.
By Caroline Germano - Dec 14, 2018