CU economists: Colorado economy ‘remains strong’ midway through ‘24

BOULDER — Halfway through 2024, Colorado’s economy “remains strong” and “continues to show resilience,” according to the recently released Colorado Business Review, a newsletter prepared by the Leeds Business Research Division at the University of Colorado.

“Based on both the quantitative and qualitative information we have received we are optimistic on a continued but slower growth path for Colorado.  The recent GDP numbers show some positive support for our view,” Richard Wobbekind, a senior economist at CU and faculty director of the Business Research Division, said in a prepared statement.

Colorado’s unemployment rate is 3.8%, slightly below the national average of 4.1%.

Economists at BRD predict that the state will add 49,600 jobs in 2024. That’s up from a prediction of 41,900 new jobs made in late 2023. 

Comparing Boulder Valley and Northern Colorado metropolitan statistical areas, the Boulder MSA had the highest year-over-year employment growth in June at 2.7%, followed by Fort Collins-Loveland at 2%, Greeley at 1.5%.

“While the economy looks poised for slower growth in 2024, the state is on a continued growth trajectory for the year,” BRD executive director Brian Lewandowski said in a prepared statement.

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