We set out to create a tool to track the economic recovery in Northern Colorado and selected a set of indicators that represent critical aspects of the Larimer and Weld County economies, are based on data that is accessible in a useable format, and updated frequently with little lag time. 

The selected indicators are updated at least monthly with no more than a two-month lag and are primarily available at the county level. They provide almost real-time insights about economic conditions and recovery status. 

They address the following questions:

  • Are residents engaged in the labor market and do they have jobs? 
  • Are regional businesses able to maintain their workforce? Are they hiring?
  • Are consumers spending money in our economy? 
  • Are visitors coming back? 
  • Is our real estate market stable? Are businesses closing and leaving unoccupied commercial spaces?
  • Is the construction industry active and purchasing materials to support future growth?

This list of indicators is not exhaustive but does represent well-rounded measures that can signal areas of strength or weakness in the recovery from the economic shock induced by the COVID-19 Pandemic.

Status
Initial Unemployment Claims
High
Continued Unemployment Claims
High
Unemployment Rate
High
Labor Force
Neutral
Job Postings
Low
Small Business Revenues
Low
Consumer Spending
Low
Retail Sales
Mixed
Hotel Occupancy and Revenue
Low
Visitors to Rocky Mountain NP
High
Commercial Vacancy Rates
High
Building Materials Use Tax
Elevated
High
Trend
Initial Unemployment Claims
Continued Unemployment Claims
Unemployment Rate
Labor Force
Job Postings
Small Business Revenues
Consumer Spending
Retail Sales
Hotel Occupancy and Revenue
Visitors to Rocky Mountain NP
Commercial Vacancy Rates
Building Materials Use Tax