Economy, Jobs and Employment
NEW:
"Focus Colorado: Economic and Revenue Forecast, 2006-2011" by Colorado Legislative Council Staff"
INCOME & PERSONAL ECONOMY:
Did You Know...
- Median Family Income in CO = $58,849
- CO Ranks 10th in Nation for Personal Income = $36,109
- CO Ranks 8th in Nation for Disposable Income = $32,273
- CO Ranks 32nd in Nation for % of Population Below Poverty (11.1%)
- Consumer Price Index (CPI) inflation 1.1% 2003?
- HD 36 - 20.5% households earn $10k – $29,999 (State = 35.7%) 2000 Census
- HD 36 - 26.1% households earn $30k - $49,999 (State = 17.0%) 2000 Census
- HD 36 - 42.9% households earn $50k - $99,000 (State = 33.1%) 2000 Census
- HD 36 - 10.5% households earn $100k + (State = 14.2%) 2000 Census
- Colorado ranks 9th highest in per capita income
- Colorado ranks 1st in nation for bankruptcy rate.
- 80% families saw drop in real wages, not even accounting for inflation
- CO minimum wage $6.85 / hour
- US minimum wage $5.85 / hour
BUSINESS ECONOMY:- Metro office vacancy remains at historic highs of 18%?
- Lockheed Martin given $330 million contract to build spacecraft to fix Hubble?
- Lockheed received $11 billion in contracts over last 12 months?
- CO Ranks 38th in Nation for Farm Income & Production
- CO is in top 10 in production of Livestock, Cattle, Hay, Potatoes, Lettuce, Sugar Beets
- CO Ranks 2nd in Nation in Export of State Product.
- Colorado currently ranks 34th in nation for public support of tourism.
- CO ranks 10th Best for Small Business Survival Index in Nation
Source:Colorado Economic Chronicle
JOBS & EMPLOYMENT
Outsourcing
- 2.7 million factory jobs disappeared since 2001 offshore
- 1.7 million private sector jobs
- >750,000 high tech jobs
- Berkley estimates 14 million more jobs vulnerable to moving overseas
Who?- Boeing
- Prudential,
- Kaiser Permanente
- Aetna
- Intel
- Amazon
- Reuters
- Oracle
- Office Depot
- Northwest Airlines
- American Express
- EDS
- General Electric
- Accenture
- MCI
- Dell
Working PoorOfficially, in the United States, the working poor are defined as individuals who spent at least 27 weeks in the labor force (working or looking for work), but whose incomes fell below the official poverty level. In the United States, according to the government Bureau of Labor Statistics, there were 6.4 million working poor in 2000 [1]; by 2003 the number had grown to 7.4 million [2]. In 2004, Business Week suggested [3] that "the share of the workforce earning subpoverty pay [is] 24% [in 2003]".
Source:Colorado Economic Chronicle- House District (HD) 36 - 40.8% in services industry
- HD 36 - 16.0% in retail trade
- HD 36 - 10.5% in construction
- HD 36 - 2.2% in manufacturing
- HD 36 - 1.8% in Trans Comm
- HD 36 - 1.7% in agriculture
- HD 36 - 1.6% in fire department
- HD 36 - 1.2% in wholesale trade
- HD 36 - 0.0% in government
- HD 36 - 0.0% in mining
Source: Census; Denver Regional Council of Governments (DRCOG)
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