It’s time again for our monthly update to the Economic Tracker Update. 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:
Here are the three takeaways:
- The labor market continues to be tight but does show signs of softening with fewer job postings for every unemployed worker – there are now 2.5 postings for every unemployed worker in Northern Colorado down from a high of 3.2.
- Job growth appears to be slowing, but overall regional employment remains slightly above its pre-Pandemic average. Almost all industry sectors have recovered to pre-Pandemic levels with a few exceptions.
- In Larimer, the sectors that have not recovered are Other Services, State Government, and Information
- In Weld, the sectors that have not recovered are Minning, Logging, and Construction; Manufacturing; Other Services; State Government, and Information
- The updated Lodging Reports show that the hospitality sector appears to have recovered with strong performance in all Northern Colorado markets in the later summer and fall.