Colorado’s GDP increases 3.8% in second quarter

DENVER — Colorado’s gross domestic product for the second quarter of 2017 increased by 3.8 percent, according to a report released Tuesday by the Bureau of Economic Analysis.

The report also said that the state is on track to add 48,700 jobs this year, a number that may be bumped up slightly when numbers are revised in March.

• Key takeaways from the report are:
• The Colorado population is growing at a faster rate than the U.S. and most other states.
• The population and workforce is growing because of net migration and the natural rate of change. People move to Colorado to work and play. In the process, jobs are created to support their lifestyle.
• Colorado has large counties with almost 700,000 people and small counties with about 700 people. The population in some counties is increasing, while it is decreasing in other counties. The largest municipalities and areas of absolute growth are along the Front Range.
• In the years ahead, there will be a higher concentration of older people and a lower concentration of younger people in Colorado
• Over time, the population of Colorado will become more diverse.
• With the passage of time, the number of working-age people will increase at a rate that is slower than the growth rate of the population.

Click here, for the full report.

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