Economics

OSPB  |  Budget Documents  |  Economics  | Emergency Funds | Performance Management  |  Research & Evidence  |  About  |  Contact

 

Economic Outlook


After two months of precipitous declines, the U.S, economy appears to have begun to grow slightly in May and June, though from extremely low levels. The U.S. economy added more than 2.5 million jobs in May after losing more than 22 million in March and April, and retail sales grew by 7.9 percent after declining by 16 percent in April. Despite this improvement, the recovery is expected to be slow and contingent upon public health conditions and federal relief measures.

Colorado lost more than 300,000 jobs in March and April, and the unemployment rate rose to 11.3 percent. Despite these dire numbers, the state’s large professional services sector is helping Colorado weather the COVID-19 recession is better than most other states. Other critical industries, however, such as tourism and energy, have been severely impacted and are expected to face lengthy recoveries.


Luke Teater - Chair

Alex Hall

Alison Felix

Charles Gwirtsman

David Kelly

Jessica Ostermick

Ken White, JR.

Nathan Perry

Patty Silverstein

Paul Rochette

Rich Wobbekind

Ron New

Sol Halpern

Tom Lipetzky

Trini Rodriquez