The OSPB economics team serves primarily to provide the Governor and the Budget Director (OSPB director) with timely and accurate information and analysis relating to the economy and State fiscal conditions, focusing on their implications to the State Budget. The economics team also provides research and analysis on tax and fiscal policy issues, and tracks legislation related to these issues.
The Colorado Economic Outlook
Colorado’s economic expansion is continuing. Job growth continues at a faster rate than labor force growth, driving unemployment to its lowest rate on record, at 2.6 percent. Wage growth remains above inflation at 4.2 percent, supporting continued growth in consumer activity. While certain industries - notably agriculture and manufacturing - are experiencing significant negative impacts from tariffs and trade conflicts, Colorado’s overall economy is expected to continue to grow throughout the forecast period.