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Colorado’s economy is growing with fewer workers – Denver, Colorado

Denver, Colorado 2021-09-21 13:26:07 –

Colorado’s economy is growing despite the small number of workers overall, a state budget analyst said Tuesday.

Analysts said in quarterly economic forecasts that the state legislature expects to spend $ 15.3 billion from the general endowment (covering education and medical expenses, etc.) in the fiscal year ending June 30. .. This is 7.2%. Analysts expect an increase from last year, up about 4% in each of the next two fiscal years.

But in Colorado Unemployment rate is 5.9%, More than 5.2% of the country, more than double the state’s equal temperament over the five years before the pandemic.

“This is unusual,” Luke Teater, deputy director of the governor’s budget staff, told them. “Usually, employment and production are more closely linked.”

The trend is Especially remarkable For the first time, total sales exceeded pre-pandemic levels in the food, beverage and hotel sectors, despite employing 25,000 fewer workers than in early 2020.

As with the pandemic as a whole, poorly educated and people of color have high unemployment rates. Whites reported an unemployment rate of 5.3%, Latin Americans 7.2% and blacks 14.5%, according to a report on Tuesday. People who were not educated beyond high school could be nearly twice as unemployed as those with a bachelor’s degree.

Governor Jared Polis celebrated economic forecasts as a sign that “Colorado is repulsing.”

“As more Colorado are vaccinated and return to work, there will be a strong recovery in 2021,” he said. , And work. “

Colorado’s economic growth is constrained by taxpayer rights bills. The bill requires the state to refund citizens during periods of high economic performance.Analysts expect about $ 500 million Will be refunded this yearAnd over $ 1 billion for each of the following three:

Democratic lawmakers signaled They want to find a way to reorganize their income starting next year so that they can retain money for state government purposes instead of refunds.

Colorado’s economy is growing with fewer workers Source link Colorado’s economy is growing with fewer workers

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