August Economic Tracker Released
It’s time again for our monthly update to the Economic Tracker. Your Fort Collins Area Chamber, working with other economic development and business support organizations across the region created a tool to track the economic recovery in Northern Colorado. This valuable resource is a set of indicators that represent critical aspects of the Larimer and Weld County economies, is based on data that is accessible in a useable format and is updated frequently with little lag time. The Economic Tracker provides great insight into the impact of the pandemic and recession on Northern Colorado.
The most recent update to the Tracker includes the following insights from our Economic Analyst, Caroline Alexander:
- The labor market is loosening up as more people enter the labor force and job posting activity slows.
- Tourism in the summer of 2023 was a little weaker than 2019, reflecting a broader trend of travelers seeking destinations further from home.
- The housing market is back on an upward trajectory in spite of interest rates. Commercial real estate is mixed but retail and industrial vacancy remains low – under 5% – but office vacancy is almost 5% in Larimer County and above 7% in Weld County.