News Trends Contributors Jobless rate retreats Opinion Business Briefs Business People Almanac The Business Times
May 26-June 8, 2022
Page 19
INDICATORS AT A GLANCE
n Business filings
t New business filings in Colorado, 43,780 in the first quarter, down 2.1 percent from the first quarter of 2021.
n Confidence
t Consumer Confidence Index 107.3 for April, down 0.3. t Leeds Business Confidence Index for Colorado, 53.9 for the second quarter, down 4.1 n National Federation of Independent Business Small Business Optimism Index 93.2 for April, unchanged.
n Foreclosures s Foreclosure filings in Mesa County, 24 in April, up from 4 in April 2021. t Foreclosure sales in Mesa County, 0 in April, down from 4 in April 2021.
n Indexes
t Conference Board Employment Trends Index, 120.18 for April, down 0.6. t Conference Board Leading Economic Index 119.2 for April, down 0.3%. t Institute for Supply Management Purchasing Managers Index for manufacturing, 57.1% for April, down 1.2%.
n Lodging
s Lodging tax collections in Grand Junction, $226,835 for March, up 58.7% from March 2021.
n Real estate
t Real estate transactions in Mesa County, 448 in April, down 7.1% from April 2021. s Dollar volume of real estate transactions in Mesa County, $197 million in April, up 6.5% from April 2021.
n Sales
s Sales and use tax collections in Grand Junction, $5 million for March, up 13% from March 2021. s Sales and use tax collections in Mesa County, $4.5 million for April, up 4.6% from April 2021.
n Unemployment t Mesa County — 3.3% for April, down 0.6. t Colorado — 3.6% for April, down 0.1. n United States — 3.6% for April, unchanged.
Labor shortage persists, but supply starting to catch up with demand Phil Castle
of those openings have been filled.” For April, 809 job orders were posted. That’s down almost 23 percent from the April March The unemployment rate continues to 1,046 orders posted for the same month t Delta County 3.4 4.0 drop in Mesa County as employers enjoy last year. t Garfield County 2.8 3.2 more success in filling job openings. Through the first four months of t Mesa County 3.3 3.9 What’s typically 2022, 3,379 orders were posted. That’s up t Montrose County 3.3 3.8 a seasonal spike in slightly from the 3,338 orders posted for t Rio Blanco County 3.9 4.5 the jobless rate in the same span in 2021. But Englehart said June could interrupt he expects that to change because orders the trend. Overall, though, conditions are exceeded 1,000 for most months last year. improving, said Curtis Englehart, director of Employers participating in a recent job fair the Mesa County the Mesa County Workforce Center in Grand Workforce Center staged in conjunction with Colorado Mesa Junction. University reported receiving quality applications for openings, The seasonally unadjusted unemployment he said. Englehart said there’s strong demand across most industry Curtis Englehart rate dropped six-tenths of a point between March and April to 3.3 percent, according to sectors — not only health care, but also construction, manufacturing the latest estimates from the Colorado Department of Employment and transportation. and Labor. He said he’s encouraged about the year ahead. “I still feel The jobless rate has dropped 1.2 points over the last two months good about where we are in the economy.” to the lowest level since before the onset of the COVID-19 pandemic Seasonally unadjusted unemployment rates also dropped in in early 2020. At this time in 2021, the rate stood at 6.3 percent. neighboring Western Colorado counties in April: six-tenths of a Between March and April, Mesa County payrolls were point to 3.4 percent in Delta County and 3.9 percent in Rio Blanco essentially unchanged at 76,204. The number of people counted County, a half point to 3.3 percent in Montrose and four-tenths of among those unsuccessfully looking for work dropped 477 to 2,637. a point to 2.8 percent in Garfield County. The labor force, which includes the employed and unemployed, The statewide seasonally adjusted jobless rate edged down a shrank 480 to 78,841. tenth of a point to 3.6 percent, the lowest level since the rate stood Over the past year, payrolls rose 3,814 or nearly 5.3 percent. at 2.8 percent in February 2020 and the onset of the COVID-19 The ranks of the unemployed decreased 2,259. The labor force pandemic in the United States. swelled 1,555. Nonfarm payrolls increased 16,600 between March and The jobless rate usually increases in June as high school April. Over the past two years, Colorado has added 403,500 jobs and college graduates join the work force, but haven’t yet found — more than the 374,500 jobs lost in March and April 2020 as a positions. Afterwards, Englehart said he expects the rate to slip result of the pandemic and related restrictions. further, although at a slower pace. Over the past year, payrolls grew 129,000 with the largest While employers still face labor shortages, there are some gains in the leisure and hospitality; professional and business indications the situation is improving, he said. “It does feel like a services; and trade, transportation and utilities sectors. little more relief than we had last year.” Over the past year, the average workweek for employees on The number of job orders posted at the Mesa County private, nonfarm payrolls shortened two-tenths of an hour to 33.3 Workforce Center are beginning to decrease on a year-over-year hours. Average hourly earnings increased 11 cents to $34.34. basis despite continued demand, he said. “That’s telling me a lot F The Business Times
AREA JOBLESS RATES
Mesa County tax collections trend upward Tax collections, a measure of sales activity, continue to increase on a year-over-year basis in Mesa County. The county collected more than $4.1 million in sales taxes in April, a 5.4 percent increase over what was collected for the same month a year ago. April reports reflect March sales. Sales, use and lodging tax collections for the City of Grand Junction weren’t available as of press deadline. Mesa County also collected nearly $381,000 in use taxes in April — nearly all of it from automobiles purchased outside the county, but used in the county. That was a 3.9 percent decrease from the same month last year. Tax collections on retail sales totaled nearly $2.5 million in April, down six-tenths of a percent from the same month a year ago. Collections increased on the sales of home improvements, food and beverages and sporting goods and other hobbies. Collections decreased on the sales of automobiles, clothing and general merchandise. Sales tax collections for the month also increased in the hotel and restaurant, manufacturing and telecommunications industries. Through the first four months of 2022, Mesa County collected more than $15 million in sales taxes. That’s an increase of nearly
MESA COUNTY TAX COLLECTIONS
Use tax Sales tax Total
April 2021 $395,454 $3,893,677 $4,289,131
April 2022 $380,195 $4,104,902 $4,485,097
Change -3.9% 5.4% 4.6%
$1.8 million and 13.5 percent over the same span in 2021. The county collected almost $1.4 million in use taxes through the first four months of 2022, also a 13.5 increase over a similar span in 2021. Year-to-date tax collections on retail sales totaled nearly $9.3 million, an increase of more than $700,000 and 8.2 percent over 2021. Collections increased on a year-over-year basis in every retail category but one. Collections edged down four-tenths of a percent on the sales of food and beverages. Sales tax collections also increased 15.9 percent in the hotel and restaurant industry, 20.5 percent in the manufacturing industry and 35.5 percent in the telecommunications industry. Collections declined 12.6 percent in the oil and natural gas industry. F
