State’s Economy Growing…Slowly

economyColorado’s economy continued to grow in the past year, but far too many workers are not receiving the benefits of the economic recovery. That’s the key finding in “State of Working Colorado 2014,” the Colorado Center on Law and Policy’s annual analysis of Colorado’s economy. Claire Levy, CCLP’s executive editor, says, “wages for many workers are stagnant, or even worse, falling behind, even as jobs are being added.” Unemployment, which is perhaps the most common measure of the economy, is lower than it has been in years, but it’s still higher than it was before the start of the recession. And the number of jobs in Colorado has returned to pre-recession levels. The number of those who are still looking for work is also decreasing. Levy also says incomes have not kept pace with the cost of living, and poverty remains persistent. In 2013, 13 percent of Coloradans lived in poverty, which is still slightly higher than before the recession began when the poverty rate was 12 percent.

Comments are closed.