Colorado job growth this year projected at 1.4%

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Published Friday, January 10, 2020

The Center Square

Job growth in Colorado is expected to reach 1.4 percent by the end of 2020, down from the state's 2019 job growth of 2.1 percent, according to a new study by Kiplinger that assessed state economic outlooks.

Colorado ranked eighth among the 50 states and the District of Columbia based on its projected job growth this year, according to the Kiplinger analysis. The state's current jobless rate is 2.8 percent.

Generally, tax revenues flowing to states should remain healthy in the next several quarters due to rising incomes, modest inflation and low unemployment, Kiplinger reports. State spending should rise only modestly in the coming year, according to the report, and states are putting more money in their rainy-day accounts.

But regions are also struggling somewhat due to a number of financial challenges. The trade war between the United States and China is hurting Midwest farmers, while New England growth is slowing because of a lack of skilled workers, the report said.

2020 Economic Outlooks, State by State

State

Population

Jobless Rate

2019 Job Growth

2020 Job Growth

Job Growth Rank Based on 2020 Data

Nevada

3,034,000

4.1%

3.0%

2.0%

1

Utah

3,161,000

2.8%

3.0%

2.0%

1

Florida

21,299,000

3.3%

2.5%

1.9%

3

Idaho

1,754,000

2.9%

2.5%

1.8%

4

Arizona

7,172,000

5.0%

2.5%

1.7%

5

Washington

7,536,000

4.6%

2.6%

1.7%

5

Texas

28,702,000

3.4%

2.3%

1.6%

7

Colorado

5,696,000

2.8%

2.1%

1.4%

8

Oregon

4,191,000

4.0%

1.9%

1.3%

9

Alabama

4,888,000

3.1%

1.8%

1.2%

10

Georgia

10,520,000

3.6%

1.7%

1.2%

10

North Carolina

10,384,000

4.2%

1.6%

1.0%

12

South Dakota

882,000

2.9%

2.1%

1.0%

12

California

39,557,000

4.1%

1.8%

0.9%

14

South Carolina

5,084,000

3.2%

1.5%

0.9%

14

Tennessee

6,770,000

3.5%

1.7%

0.9%

14

Iowa

3,156,000

2.5%

0.7%

0.8%

17

Kentucky

4,468,000

4.4%

1.1%

0.8%

17

Mississippi

2,987,000

5.2%

1.4%

0.8%

17

Missouri

6,126,000

3.2%

1.2%

0.8%

17

Rhode Island

1,057,000

3.6%

1.3%

0.8%

17

Virginia

8,518,000

2.8%

0.8%

0.8%

17

Delaware

967,000

3.4%

1.0%

0.7%

23

Kansas

2,912,000

3.2%

1.0%

0.7%

23

Massachusetts

6,902,000

2.9%

1.0%

0.7%

23

Minnesota

5,611,000

3.3%

0.4%

0.7%

23

Montana

1,062,000

3.3%

1.2%

0.7%

23

Nebraska

1,929,000

3.1%

0.6%

0.7%

23

New Hampshire

1,356,000

2.5%

1.6%

0.7%

23

New Mexico

2,095,000

4.9%

1.9%

0.7%

23

Washington, D.C.

702,000

5.5%

1.1%

0.7%

23

Arkansas

3,014,000

3.4%

1.1%

0.6%

32

Indiana

6,692,000

3.3%

0.9%

0.6%

32

New Jersey

8,909,000

3.2%

1.2%

0.6%

32

Illinois

12,741,000

4.0%

1.1%

0.5%

35

Maine

1,338,000

2.9%

0.8%

0.5%

35

Maryland

6,043,000

3.8%

0.3%

0.5%

35

New York

19,542,000

4.0%

1.1%

0.5%

35

Pennsylvania

12,807,000

3.9%

0.7%

0.5%

35

Vermont

626,000

2.1%

0.7%

0.5%

35

West Virginia

1,806,000

4.6%

0.9%

0.5%

35

Hawaii

1,420,000

2.7%

0.4%

0.4%

42

North Dakota

760,000

2.4%

0.6%

0.4%

42

Ohio

11,689,000

4.1%

0.6%

0.4%

42

Wisconsin

5,814,000

3.1%

0.4%

0.4%

42

Wyoming

578,000

3.7%

1.5%

0.4%

42

Alaska

737,000

6.2%

1.1%

0.3%

47

Oklahoma

3,943,000

3.2%

0.5%

0.3%

47

Connecticut

3,573,000

3.6%

0.4%

0.2%

49

Louisiana

4,660,000

4.3%

0.1%

0.2%

49

Michigan

9,996,000

4.2%

0.4%

0.2%

49

Source: Kiplinger.com

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