April 2004
Employer confidence, growth in some industry sectors may point to recovery
Local business and economic data remains mixed as Colorado's economic recovery continues to lag slightly behind the nation, according to the Metro Denver Economic Development Corporation's (Metro Denver EDC) April 2004 Monthly Economic Summary. Seven indicators moved in a positive direction for the previous month.
According to the summary, three industry sectors have posted an average annual increase in employment so far in 2004. Employment in Financial Services grew by 2.9% (a gain of 3,000 jobs); 4,700 jobs were added in Education and Health Services for a 3.7% increase; and the Natural Resources and Mining sector added 200 employees.
“Despite moderate growth in some sectors and decline in others, our companies are optimistic," said Patty Silverstein, Chief Economist for the Metro Denver EDC and author of the report. “A recent survey conducted by the Leeds School of Business at the University of Colorado for Compass Bank, shows that a strong majority of companies predict the state economy will grow."
“The glimmer of light pointing to our economic recovery is starting to burn brighter," said Tom Clark, executive vice president of the Metro Denver EDC. “Colorado, to the surprise of many, continues to follow its historic pattern of exiting recessions later than the rest of the nation."
The Monthly Economic Summary provides a snapshot of metro area economic activity, as well as its relationship to national and regional economic trends.