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OctOber 28-NOvember 10, 2021
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INDICATORS AT A GLANCE
n Business filings
s New business filings in Colorado, 39,252 in the second quarter, up 25.7% from the second quarter of 2020.
n Confidence
s Consumer Confidence Index 113.8 in October, up 4.0. t Leeds Business Confidence Index for Colorado, 56.1 for the fourth quarter, down 11.2. t National Federation of Independent Business Small Business Optimism Index 99.1 for September, down 1.0.
n Foreclosures
t Foreclosure filings in Mesa County, 2 in September, down from 8 in September 2020. t Foreclosure sales in Mesa County, 2 in September, down from 3 in September 2020.
n Indexes
t Conference Board Employment Trends Index, 110.35 for September, down 0.33. s Conference Board Leading Economic Index 117.5 for September, up 0.2%. s Institute for Supply Management Purchasing Managers Index for manufacturing, 61.1% for September, up 1.2%.
n Lodging
s Lodging tax collections in Grand Junction, $211,635 for August, up 75.9% from August 2020.
n Real estate
t Real estate transactions in Mesa County, 510 in September, down 9.9% from September 2020. s Dollar volume of real estate transactions in Mesa County, $205 million in September, up 14.5% from September 2020.
n Sales
s Sales and use tax collections in Grand Junction, $5.9 million for August, up 18.2% from August 2020. s Sales and use tax collections in Mesa County, $4.23 million for September, up 16.9% from September 2020.
n Unemployment t Mesa County — 4.8% for September, down 0.9. t Colorado — 5.6% for September, down 0.3. t United States — 4.8% for September, down 0.4.
Mesa County jobless rate falls to lowest level since onset of pandemic Phil Castle
and the option to work from home as well offered higher wages, he said. For September, 1,020 job orders were Sept. Aug. With drops in each of the last three posted, Englehart said. That’s the lowest t Delta County 4.1 5.0 months, the unemployment rate has number since March. Through the first three t Garfield County 4.0 4.6 retreated in Mesa County to the lowest level quarters of 2021, 8,617 orders were posted. t Mesa County 4.8 5.7 since before the onset of the COVID-19 That’s nearly double the orders posted for t Montrose County 4.2 5.1 pandemic. the same span last year and more than the t Rio Blanco County 4.2 5.2 “It is a really good 6,646 orders posted for all of 2020. sign for us,” said Englehart said he expects strong hiring Curtis Englehart, director of the Mesa County to continue through the fourth quarter of 2021 to fill not only fill Workforce Center in Grand Junction. existing openings, but also seasonal positions for the holidays. While a labor shortage persists, employers The recent openings of Dillards and Dick’s Sporting Goods at willing to offer more flexibility and higher Mesa Mall in Grand Junction and related hiring will bolster labor wages have fared better in filling openings, numbers. Englehart said. But the labor market also could be affected by employees who The seasonally unadjusted unemployment quit their jobs rather than comply with COVID-19 vaccination Curtis Englehart rate fell nine-tenths of a point to 4.8 percent mandates, he said. in Mesa County in September, according Seasonally unadjusted unemployment rates also declined in to the latest estimates from the Colorado Department of Labor neighboring Western Colorado counties in September: six-tenths and Employment. That’s the lowest level since the rate stood at of a point to 4 percent in Garfield County, nine-tenths of a point to 4.1 percent in February 2020. At this time last year, the rate stood 4.1 percent in Delta County and 4.2 percent in Montrose County at 6.4 percent. and a point to 4.2 percent in Rio Blanco County. For September 2021, Mesa County payrolls increased 1,136 to The statewide seasonally adjusted jobless rate fell three-tenths 73,463. The number of people counted among those unsuccessfully of a point to 5.6 percent even as nonfarm payrolls increased 5,100 looking for work decreased 630 to 3,720. The labor force, which between August and September. includes the employed and unemployed, grew 506 to 77,183. Over the past year, payrolls have increased 102,100 with Compared to a year ago, payrolls increased 1,460. The ranks the biggest gains in the leisure and hospitality; professional and of the unemployed decreased 1,235. The labor force grew 225. business services; and trade, transportation and utilities sector. An end to a federal stipend added to unemployment benefits Manufacturing and construction payrolls declined. motivated some people to rejoin the work force. But the latest Over the past 17 months, Colorado has regained 297,900 of numbers also reflect other factors, Englehart said. “I think it’s a the 375,800 jobs lost between February and April 2020 because of combination of things.” the pandemic and related restrictions. What’s been a surge in job orders posted at the Mesa County The average workweek for employees on private, nonfarm Workforce center has leveled off as employers fill more of those payrolls has lengthened over the past year six-tenths of an hour openings, he said. “That’s not a bad thing.” to 33.5 hours. Average hourly earnings increased $1.44 to $32.46. Employers have responded to demands for more flexibility F The Business Times
AREA JOBLESS RATES
Consumer Confidence Index rebounds A measure of consumer confidence has rebounded on more upbeat expectations for business and labor conditions as well as plans to make big purchases and take vacations. The Conference Board reported its Consumer Confidence Index rose four points to 113.8 in October. The gain reversed a threemonth decline. Components of the index tracking assessments of current conditions as well as short-term expectations both increased. Lynn Franco, senior director of economic indicators at the Conference Board, said concerns about the effects of the Delta variant Lynn Franco of COVID-19 have eased. While concerns over inflation rose to a 13-year high, the effect on confidence was muted. “The proportion of consumers planning to purchase homes, automobiles and major appliances all increased in October — a sign that consumer spending will continue to support economic growth through the final months of 2021,” Franco said. “Likewise, nearly half of respondents said they intend to take a vacation within the next six months — the highest level since February 2020, a reflection of the ongoing resurgence in consumers’ willingness to travel and spend on in-person services.” The business research and membership group bases the Consumer Confidence Index on the results of monthly household surveys. Economists monitor the index because consumer spending
accounts for more than two-thirds of economic activity. More upbeat assessments of current conditions pushed up the present situation component of the index 3.1 points to 147.4. The proportion of consumers responding to the survey upon which the October index was based who described business conditions as “good” fell a half point to 18.6 percent. But the share of those who called conditions “bad” also fell — four-tenths of a point to 24.9 percent. The proportion of those who said jobs are “plentiful” dropped nine-tenths of a point to 55.6 percent. But the share of those who said jobs are “hard to get” fell 2.4 points to 10.6 percent. More optimistic outlooks pushed up the expectations component of the index 4.6 points to 91.3. The share of consumers who said they expect business conditions to improve over in six months increased 2.6 points to 24.3 percent. The proportion of those who said they anticipate worsening conditions also rose — 3.5 points to 21.1 percent. The share of consumers who expect more jobs to become available in coming months rose 4.1 points to 25.4 percent. The proportion of those forecasting fewer jobs decreased 1.6 points to 18.3 percent. While 18.7 percent of consumers said they expect their incomes to increase — up 1.8 points from September — another 11.3 percent said they anticipated lower earnings. That’s down a tenth of a point. F
