News Trends Contributors Jobless rate trends down Opinion Business Briefs Business People Almanac The Business Times
November 25-December 8, 2021
Page 19
INDICATORS AT A GLANCE
n Business filings t New business filings in Colorado, 38,211 in the third quarter, down 1.2% from the third 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 98.2 for October, down 0.9.
n Foreclosures
t Foreclosure filings in Mesa County, 1 in October, down from 2 in October 2020. s Foreclosure sales in Mesa County, 3 in October, up from 2 in October 2020.
n Indexes
s Conference Board Employment Trends Index, 112.23 for October, up 2.55. s Conference Board Leading Economic Index 118.3 for October, up 0.9%. t Institute for Supply Management Purchasing Managers Index for manufacturing, 60.8% for October, down 0.3%.
n Lodging
s Lodging tax collections in Grand Junction, $249,464 for October, up 75.5% from October 2020.
n Real estate
t Real estate transactions in Mesa County, 480 in October, down 17.1% from October 2020. s Dollar volume of real estate transactions in Mesa County, $204 million in October, up 9.7% from October 2020.
n Sales
s Sales and use tax collections in Grand Junction, $6.39 million for October, up 17.8% from October 2020. s Sales and use tax collections in Mesa County, $4.32 million for October, up 17.1% from October 2020.
n Unemployment t Mesa County — 4.7% for October, down 0.2. t Colorado — 5.4% for October, down 0.2. t United States — 4.6% for September, down 0.2.
Labor shortages persist in Mesa County heading into holiday season Phil Castle
and nearly 83 percent from the same span in 2020. Labor demand remains strong across Oct. Sept. The unemployment rate continues to industry sectors, but is particularly t Delta County 3.9 4.1 trend down in Mesa County, although at a pronounced in the health care sector, t Garfield County 4.0 4.1 slow pace. Englehart said. He attributed the situation t Mesa County 4.7 4.9 “We’re seeing in part to turnover related to burnout in t Montrose County 4.0 4.2 movement in the right the midst of the COVID-19 pandemic as t Rio Blanco County 4.1 4.3 direction, but it’s a very well as COVID vaccine mandates. “It’s a gradual movement,” combination of things.” said Curtis Englehart, director of the Mesa Employers in other sectors also have struggled to fill job County Workforce Center in Grand Junction. openings, including small retailers gearing up for the holiday Labor demand remains strong, particularly shopping season. High school and college students looking for in the health care sector, and employers seasonal jobs have helped fill some openings, he said. struggle to fill job openings, Englehart said. Looking ahead, Englehart said he expects the jobless rate That will leave some businesses short-handed to continue to trend downward through the end of the year. The Curtis Englehart for the holiday season. jobless rate historically spikes in Mesa County in January to its The seasonally unadjusted unemployment rate fell two-tenths highest level of the year, and he said he’ll be watching to see if of a point to 4.7 percent in Mesa County in October, according to that continues and to what extent. the latest estimates from the Colorado Department of Labor and For October, seasonally unadjusted unemployment rates also Employment. With declines in each of the last four months, the retreated in neighboring Western Colorado counties: down a tenth joblessness has retreated to its lowest level since the rate stood at of a point to 4 percent in Garfield County and two-tenths of a point 4.1 percent in February 2020. At this time last year, the rate was to 3.9 percent in Delta County, 4 percent in Montrose County and higher at 6.3 percent. 4.1 percent in Rio Blanco County. Between September and October 2021, Mesa County payrolls The statewide seasonally adjusted jobless rate fell two-tenths increased 157 to 73,314. The number of people counted among of a point to 5.4 percent as nonfarm payrolls increased 10,600 those unsuccessfully looking for work decreased 148 to 3,612. from September to October. The labor force, which includes the employed and unemployed, Over the past year, payrolls increased 104,600 with the edged up nine to 76,926. biggest gains in the leisure and hospitality; professional and Compared to a year ago, payrolls increased 1,069 even as the business services; and trade, transportation and utilities sectors. ranks of the unemployed fell 1,211. The labor force decreased 142. Construction payrolls declined. Labor demand as measured by the number of job orders Over the past 18 months, Colorado has regained 313,100 of posted at the Mesa County Workforce Center increased between the 375,800 jobs lost between February and April 2020 because of September and October as well as on a year-over-year basis, the pandemic and related restrictions. Englehart said. The average workweek for employees on private, nonfarm For October, 1,069 orders were posted. That’s up 49 from payrolls shortened four-tenths of an hour over the past year to 33.3 September and 360 from a year ago. Through the first 10 months hours. Average hourly earnings increased $1.71 to $32.54. of 2021, 9,686 orders were posted. That’s an increase of 4,392 F The Business Times
AREA JOBLESS RATES
Grand Valley tax collections continue to increase A key measure of sales activity continues to increase in Grand Junction and Mesa County. The City of Grand Junction reported a 17.6 percent increase in sales tax collections in October compared to the same month a year ago. Mesa County reported an even larger proportional gain at 18.8 percent. City lodging tax collections, a measure of hotel and motel stays, rose 75.5 percent. October tax collections reflect September sales and lodging. The city collected a total of nearly $6.4 million in sales and use taxes in October, an increase of nearly $967,000 and 17.8 percent over the same month last year. Use taxes, a smaller and more volatile revenue source, rose 29.9 percent. Through the first 10 months of 2021, the city collected a total of more than $57.4 million in sales and use taxes, an increase of almost $10 million and 21 percent over the same span in 2020. Sales tax collections increased 31.4 percent, while use tax collections rose 15.2 percent. Mesa County collected a total of more than $4.3 million in sales and use taxes. That’s an increase of almost $630,000 and 17.1 percent over last year. The gain in sales tax collections more than offset a slight dip in use taxes — nearly all of them on automobiles purchased outisde the county, but used in the county.
County tax collections on retail sales in October reached almost $1.4 million, a 13.5 percent increase over the same month last year. Collections on internet sales topped $226,000. Tax collections increased 28.5 percent on hotel stays and restaurant meals, 23.5 percent on automobiles and 15.4 percent on home improvements. Through the first 10 months of 2021, the county collected a total of more than $40.2 million in sales and use taxes. That’s an increase of nearly $7 million and 21 percent over the same span in 2020. Sales tax collections rose 20.3 percent, while use tax collections rose 28.9 percent. The county collected more than $13 million in taxes on retail sales during the firsr 10 months of 2021, a 19.4 percent increase over the same span in 2020. Tax collections on internet sales accounted for almost $2.4 million. Year-to-date sales taxes increased 30.6 percent on hotel stays and restaurant meals, 29.8 percent on home improvements and 18.6 percent on automobiles. Collections decreased 41.6 percent in the oil and natural gas sector. The City of Grand Junction collected almost $250,000 in lodging taxes in October. For the first 10 months of 2021, city lodging tax collections exceeded $1.5 million. That’s an increase of 63.1 percent over the same span in 2020. F
