View From a Height
Commentary from the Mile High City
Thursday, October 02, 2003

Good Economic News

Not that you'll get JB over at the Progressives to admit it, but even the job market appears to be turning around. The Denver Post carries an AP story about the regional economic survey and, guess what, every major category is over 50, indicating growth. Naturally the headline is "Regional economy dipped in September," so evidently these guys are making economic judgments based on their inner ears' sense of balance: if things don't grow as quickly this month, that must mean they slowed...

For Colorado, the overall index is up for 6 months in a row, and we're at 62.5 for new orders, 68.8 for production, and 71.4 for employment. Inventories are at 31.3, which clearly indicates production headed up. All of these are good numbers.

Nationally, we all know that employment is a trailing indicator. With more mandates being placed on businesses, it's more of a trailing indicator than ever. But current estimates are of 5% growth, possibly above 4% for the year, which is simply not sustainable without increasing employment. The jobs are coming. In fact, the jobs are already arriving.

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