Originally published on Thu June 11, 2015 12:42 pm
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There's a serious problem in the American economy: Big corporations are doing well, but real household income for average Americans has been falling over the past decade — down 9 percent, according to census data.
"That's not good for America," says Harvard economist Michael Porter. "That's not good for America's standard of living. That's not good for our ultimate vitality as a nation."
Originally published on Thu March 19, 2015 9:54 am
As they prepare to write the annual budget, there's mixed news for Colorado lawmakers. The latest revenue forecast shows the economy will remain strong, but there is a lot of uncertainty going forward, especially when it comes to low oil prices and how it ripples through the state's economy.
"On net low oil prices are good for the national economy, but for areas where you have energy production, energy production states, on net it has been negative in the past," said nonpartisan Chief Legislative Economist Natalie Mullis. "Colorado is a third tier energy producing state and it does have a dampening effect on our economy."
Originally published on Wed February 11, 2015 12:21 pm
Since World War II, inequality in the U.S. has gone through two, dramatically different phases.
In the first phase, known as the great compression, inequality fell. Incomes rose for people in the bottom 90 percent of the income distribution, as the postwar boom led to high demand for workers with low and moderate skills.
Originally published on Thu February 5, 2015 3:20 pm
*We used data from the Census Bureau, which has two catch-all categories: "managers not elsewhere classified" and "salespersons not elsewhere classified." Because those categories are broad and vague to the point of meaninglessness, we excluded them from our map.
What's with all the truck drivers? Truck drivers dominate the map for a few reasons.
Driving a truck has been immune to two of the biggest trends affecting U.S. jobs: globalization and automation. A worker in China can't drive a truck in Ohio, and machines can't drive cars (yet).
In recent months multiple businesses have closed and shop spaces remain empty on the main drag in Paonia. The town is in Delta County, a place that's seen the boom-or-bust cycle of the coal industry.
A Colorado Senate bill introduced last week aims to help rural communities during times of economic crisis.
SB15-036 seeks to give emergency assistance grants to rural communities during times of economic hardship. The bill is sponsored by freshman Senator Kerry Donovan who represents state Senate District 5. The district covers seven counties on the Western Slope including Delta, Hinsdale and Gunnison.
Business and community leaders in Delta County’s North Fork Valley say Paonia, Crawford, and Hotchkiss need an economic boost. They recently held a forum on the North Fork Valley’s economy and what can be done to improve it.
About 100 people attended the forum in Paonia last week.
They came to hear different perspectives on the local economy, what’s working and what’s not, and how to make things better.
About 100 people attended a forum on the North Fork Valley's economy and what can be done to improve it.
Thirteen people ranging from the president of a coal mine to the head of the Paonia Chamber of Commerce spoke at the forum held at the Hive Paonia.
"We have our farms," says Alexis Halbert, president of the chamber. "We have our hunting resources. We have are restaurants, wineries, [and] people who are creating things out of the natural assets of the valley."
Originally published on Thu December 4, 2014 1:23 pm
Job growth has been strong and steady over the past year. Wages, not so much: Average pay for U.S. workers barely kept up with inflation. But there was a fair bit of variation across different sectors. Here's a look. (In the graph, the size of the circle indicates the total number of jobs in each sector.)
Originally published on Fri June 27, 2014 10:37 am
Colorado’s economy and job growth are already shaping up to play a central role in the November gubernatorial race. Both candidates are using their own figures to assess how the state is faring as it recovers from the recession.
Coal miners and their families filled the gym at the Paonia branch of the Delta Montrose Technical College on Saturday. Many of them were among the 300 people laid off by Oxbow’s Elk Creek Mine in Somerset last month. They were there to hear state Senator Gail Schwartz and others talk about how the state could help them deal with the job losses. Some ideas included rural economic development grants and financial aid for miners to go back to school. But many people left the meeting feeling just as lost as before.
Mike Ludlow, Executive Vice President of Oxbow’s mining operations, points to where managers hope to start coal mining at Elk Creek Mine with a new or rebuilt longwall miner. Those plans are on hold while Oxbow Mining tries to line up that equipment.
Flanked by Democratic leaders at the statehouse – Governor John Hickenlooper outlined his top job creation priorities for the upcoming legislation session and previewed the first house bill that will be introduced on Wednesday. Bente Birkeland has more from the state capitol.
State economists were in an optimistic mood yesterday, saying Colorado’s economy is performing better than the rest of the nation. As a result, lawmakers will also have more money to spend in next year’s budget than originally anticipated. Bente Birkeland has more from the state capitol.