December 2004
Encouraging employment growth and industry expansion continue recovery
An employment gain of 4,700 positions in Metro Denver during October is just one sign that Metro Denver's economic recovery is gaining momentum.
According to data compiled by the Metro Denver Economic Development Corporation (Metro Denver EDC) in its Monthly Economic Summary for December 2004, economic conditions in Metro Denver continue to improve on an annualized basis, with 12 of the 18 economic indicators moving in a positive annual direction this month.
This is up from 11 positive annual indicators last month, with the Colorado Stock Index moving into the positive category. In addition, 11 of the 18 indicators continued to move in a positive direction for the month.
The Metro Denver area posted solid employment gains in October as 4,700 jobs were added since September. Further, total employment in October was 11,800 positions higher than October 2003 according to preliminary employment statistics from the Colorado Department of Labor and Employment.
Also, Metro Denver and Colorado are a hotbed for entrepreneurial activity and continue to attract well-educated workers and executive talent. These attributes bode well for the future.
“Our continued job growth is good news as we head into the new year," said Tom Clark, executive vice president of the Metro Denver EDC. “Metro Denver is known nationally as a top location for the most highly educated workers. Our 'intelligence' industries like Aerospace, Life Sciences, Energy, and Software need the most 'intelligent' workers to grow and thrive. Out-of-state ompanies looking to expand their operations know they can find the most talented workforce in Mmetro Denver."
The Monthly Economic Summary provides a snapshot of metro area economic activity and its relation to regional and national economic trends.