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.
As in the December 2018 forecast, the OSPB March 2019 forecast assumes the state economy will continue
to grow, but at a more moderate pace than in 2017 and 2018. A rapidly growing labor force is allowing job
growth to continue despite a low unemployment rate. Inflation is mild. Housing price growth and rental
rate increases slowed in the second half of 2018 but affordability remains a concern. The national economy
is still in an expansion phase with strong employment and wage growth as financial markets have stabilized
after declining in the fourth quarter of 2018.
|Leila Kleats||Chief Economist||303-866-2765|
|Luke Teater||Senior Economist||303-866-2628|
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