Colorado’s official economists put the odds of a recession starting sometime next year at 50 percent.
The state’s job growth started slowing more than a year ago and it hasn’t been able to catch up to the national trend. There are lots of factors, including weak hiring in the financial and tech sectors. Meanwhile, the housing market is stagnant; Denver now rates as one of the slowest housing markets of all major U.S. cities.
To earn the unhappy title of ‘recession,’ the country must go through two consecutive quarters of negative gross domestic product, or GDP, which the Federal Reserve defines as a measure of U.S. economic activity that represents the value of goods and services produced in the U.S.
GDP did dip into negative territory earlier this year, but appears to have been growing again for the last two quarters. That’s good news for many, but doesn’t mean some Coloradans aren’t feeling a pinch, or aren’t worried about the future.
CPR News wants to hear from you and how you are feeling about your finances, especially now, as we head into the holiday shopping season. Your responses will be used to understand public sentiment as part of our ongoing series, Silent Recession.
Note: If you choose to stay anonymous, we won’t use identifying information. (Curious how we’ve reported on audience callouts before? Check out our recent story here on how Coloradans feel about the latest immigration crackdowns.)
Colorado’s economy is flashing warning signs. Job growth has slowed to a trickle. Layoffs are inching up. The housing market is in a slump. Both the state and its biggest population center are struggling to plug massive budget holes. On top of all that, the longest government shutdown in history was weighing on the economy.
The big question, though, is whether all the bleak data points to something more serious: recession. And the answer is complicated.
Colorado Public Radio takes a look at what those warning signs might mean through the new series Silent Recession. Read more stories in the series here.