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INDICATORS AT A GLANCE n Business filings Contributors s New business filings in Colorado, 43,657 in the third quarter, up 14.5 percent from the third quarter of 2021. OpinionPhil Castle Business Times n Confidence t Consumer Confidence Index 100.2 for November, down 2. t Leeds Business Confidence Business Briefs The unemployment rate retreated in Mesa County in November as more people filled job openings. Business People Index for Colorado, 39.8 for the fourth quarter, down 1.3. s National Federation of Independent Business Small The seasonally unadjusted jobless rate fell two-tenths of a point to 3.6 percent, according Almanac Business Optimism Index to the latest estimates from the Colorado 91.9 for November, up 0.6. Department of Labor and Employment. n Foreclosures “It’s a good trend we’re seeing,” said Lindsay Bullock, director of the Mesa County s Foreclosure filings in Workforce Center in Grand Junction. Mesa County, 18 in Businesses have found more effective ways November, up from 3 in November 2021. to recruit and retain employees, Bullock said. In addition, more people have returned to the workforce or moved to s Foreclosure sales in full-time positions, some of them because of the higher prices brought Mesa County, 3 in on by inflation. “It’s kind of a mix of different things.” November, up from 0 in November 2021. The monthly unemployment rate has ranged in Mesa County in 2022 from a high of 4.5 percent in January and February to a n Indexes low of 3.4 percent in September. At this time last year, the rate t Conference Board Employment Trends Index, 117.65 for stood at 4.1 percent. Between October and November, Mesa County payrolls November, down 1.09. increased 305 to 76,199. The number of people counted among t Conference Board Leading those unsuccessfully looking for work decreased 143 to 2,839. Economic Index 114.9 for The labor force, which includes the employed and unemployed, October, down 0.8%. rose 162 to 79,038. t Institute for Supply Management Over the past year, payrolls increased 1,190 — a gain of Purchasing Managers Index nearly 1.6 percent. The ranks of the unemployed decreased 367. for manufacturing, 49% for The labor force grew 823. November, down 1.2%. Bullock said the number of job orders posted at the Mesa n Lodging County Workforce Center continues to decline compared to last year. For November, 622 orders were posted. That’s down from t Lodging tax collections in 1,102 orders for the same month in 2021. Through the first 11 Grand Junction, $488,019 months of 2022, 8,756 orders were posted. That’s down from for October, down 3.84% from October 2021. 10,788 for the same span in 2021. Job orders offer a measure of labor demand, but also decrease n Real estate when employers fill openings, she said. “For the most part, that’s t Real estate transactions in what it is.” Mesa County, 256 in November, down 41.8% from November 2021. t Dollar volume of real estate transactions in Mesa County, $110.3 million in November, down 35.1% from November 2021. n Sales s Sales and use tax collections in Grand Junction, $7 million for October, up 10.4% from October 2021. s Sales and use tax collections in Mesa County, $4.5 million for November, up 6.7% from November 2021. n Unemployment t Mesa County — 3.6% for November, down 0.2. t Colorado — 3.5% for November, down 0.1. n United States — 3.7% for November, unchanged.
Unemployment rate slips
Mesa County payrolls increase as ranks of unemployed decrease AREA JOBLESS RATES Bullock said 2022 has been a good year as Mesa County continues to recover from s Delta County s Garfield County t Mesa County n Montrose County s Rio Blanco County Nov. 3.8 3.2 3.6 3.2 3.9 Oct. 3.6 3.1 3.8 3.2 3.8 the effects of the COVID-19 pandemic and related restrictions. The monthly unemployment rate traditionally edges up in December in Mesa County and spikes in January at its highest level of the year. December labor estimates are scheduled for release Jan. 20. But Bullock said she expects a downward trend in unemployment to continue afterward. “I think we’re gong to continue on this path.” Bullock said she’s encouraged by ongoing efforts to fill skill gaps between job applicants and job requirements as well as address issues related to affordable housing. “I’m excited to see Lindsay Bullock what 2023 is going to bring.” Seasonally unadjusted unemployment rates edged up in three neighboring Western Colorado counties between October and November: a tenth of a point to 3.2 percent in Garfield County and 3.9 percent in Rio Blanco County and two-tenths of a point to 3.8 percent in Delta County. The jobless rate remained unchanged at 3.2 percent in Montrose County. Elsewhere in Colorado, the jobless rate ranged from a high of 7.2 percent in Huerfano County to a low of 1.7 percent in Baca County, although both counties are sparsely populated. The statewide seasonally adjusted unemployment rate slipped a tenth of a point to 3.5 percent as nonfarm payrolls increased 4,300. Those numbers are based on the results of separate household and business surveys. Over the past year, nonfarm payrolls grew 103,400 — an increase of 3.7 percent — with the biggest private sector gains in the professional and business services, educational and health services and leisure and hospitality sectors. Government payrolls increased 12,500. Over the past 31 months, Colorado has added 456,800 nonfarm payroll jobs, more than offsetting the 374,500 jobs lost in March and April 2020 at the onset of the COVID-19 pandemic. The average workweek for Colorado employees on private, nonfarm payrolls remained unchanged over the past year at 33.2 hours. Average hourly earnings increased $2.81 to $35.88. F
Mesa County tax collections trend upward
Sales tax collections, a measure of retail activity, continue to trend upward on year-over-year basis in Mesa County. The county collected more than $4 million in sales taxes in November, a 5.5 percent increase over the same month last year. November tax collections have increased in each of the last five years. November collections reflect October sales. Reports for Grand Junction sales, use and lodging tax collections for November hadn’t yet been posted on the city website as of the Dec. 20 deadline for the Business Times. Mesa County also collected nearly $454,000 in use taxes in November — nearly all of that on the sales of automobiles purchased outside the county, but used in the county. That’s a 19.4 percent increase over the same month last year. Tax collections on retail sales reached nearly $2.4 million, a 3.5 percent year-over-year increase. Collections rose on general merchandise, home improvements and sporting goods, but declined on clothing as well as health and personal care items. Sales tax collections also increased for most other industry categories, including the hotel and restaurant, wholesale, construction and telecommunications categories.
MESA COUNTY TAX COLLECTIONS Nov. 2022 Nov. 2021 Change
Sales tax $4,037,247 $3,827,298 5.5% Use tax $453,648 $379,808 19.4%
Total $4,490,895 $4,207,107 6.7%
Through 11 months of 2022, Mesa County collected more than $44.7 million in sales taxes. That’s a 10.3 percent increase over the same span in 2021 and a 9.5 percent increase over what was budgeted. Mesa County collected another $4.1 million in use taxes, a 5.7 percent gain over last year. Year-to-date tax collections on retail sales topped $26.6 million, a 7.2 percent increase. Collections increased in seven of eight retail categories. Collections fell 4.3 percent on health and personal care items. Year-to-date sales tax collections also increased for each of 15 industry categories with the biggest proportional gains in the transportation, construction and medical categories. F
The Business Times
December 22, 2022-January 11, 2023
Index: Small business owners a bit more optimistic
A measure of optimism among small business owners has increased on improving expectations for the economy, sales and profits.
The National Federation of Independent Business reported its Small Business Optimism Index rose six-tenths of a point to 91.9 in November. The reading has remained below the 49-year average of 98 for 11 Bill Dunkelberg straight months, however.
“Going into the holiday season, small business owners are seeing a slight ease in inflation pressures, but prices remain high,” said Bill Dunkelberg, chief economist for the NFIB. “The small business economy is recovering as owners manage an ongoing labor shortage, supply chain disruptions and historic inflation.”
The NFIB bases the index on the results of monthly surveys of members of the small business advocacy group, most of them small business owners. For November, six of 10 components of the index advanced and four retreated.
The proportion of NFIB members responding to the survey upon which the November index was based who expected the economy to improve rose three points from October. But at net negative 43 percent, a recession-level reading, more members anticipated worsening conditions.
A net 24 percent reported plans for capital outlays, up a point. A net 6 percent said they consider now a good time to expand, also up a point.
The share of those who expected increased sales rose five points. But at net negative 8 percent, more still forecast decreased sales.
Expectations for profits rose eight points, but only to a net negative 8 percent. Among those reporting lower profits, 29 percent cited rising costs and 25 percent blamed weaker sales.
A net 18 percent of survey respondents reported plans to increase employment, down two points. A net 44 percent cited unfilled job openings, also down two points.
Asked to identify their single most important business issue, 32 percent cited inflation. That’s down five points from a 43-year high reading in July.
A net 51 percent of respondents reported raising average selling prices.
The share of respondents who reported plans to increase inventories fell six points to a net negative 4 percent. The proportion of those who said existing current inventories were too low fell two points to a net negative 2 percent. F
