Businesses should be creating more Denver Colorado jobs during the next few months. Visit http://denver.jobing.com to learn more.
The most recent Business Conditions Index found that expected business activity in Colorado increased during October after reaching its lowest level in nearly a year during September. The index is based on a survey of business supply managers throughout the state.
The index ranges between 0 and 100, with an index greater than 50 indicating that the economy is expected to expand during the next three to six months, and an index of 50 classified as “growth neutral.” Colorado’s index increased from 50.6 during September to 52.3 during October.
The index is compiled by Economist Ernie Goss, director of the Denver-based Goss Institute for Economic Research, director of the Creighton University Economic Forecasting Group, and Jack A. McAllister Chair in Regional Economics at Creighton University.
“After gaining almost 3,000 jobs between December 2009 and May 2010, the state lost more than 11,000 jobs between May and September,” Goss said. “(But) I expect job growth to once again move into positive territory, albeit at a slow pace, in the months ahead.”
The Colorado index for October was based on the following measures:
- New orders: 56.7
- Production/sales: 53.4
- Delivery lead time: 51.5
- Inventories: 55.5
- Employment: 49.6
During September, the Denver-Aurora-Broomfield area’s unemployment rate remained at 8.1 percent for the second consecutive month, which is much lower than the national rate at the time of 9.6 percent.
The Denver area had a total non-farm employment of 1,192,100 workers during September, which is up from 1,191,300 workers during August and only a .2 percent decrease from last year, according to the U.S. Bureau of Labor Statistics.
