DENVER — Half of the country’s states and districts outpaced the national average in terms of economic momentum in 2021’s first quarter, including Colorado – but just barely.
Out of the 28 states that saw positive economic performance, according to Washington, D.C.-based Federal Funds Information for States, Colorado ranked 26th with a score of 0.27. The research organization, which tracks a number of federal programs and databases, ranked the economic momentum of states based on an index calculated from growth in three areas: personal income, employment and population.
Colorado had one of the nation’s lower growths in personal income at 3.3% between the fourth quarter of 2019 and the same time period in 2020. That put it at 37th in the country and below the national average of 4%.
>The video above aired in April of 2020 and explains how the economy was affected during the COVID-19 pandemic.
That growth in income was echoed in a late-2020 Bureau of Economic Analysis report, which found that the Denver metro’s average personal income grew 4% between 2018 and 2019, the second highest out of any American metro with more than 2 million residents. An economist attributed that growth to increases in income for industries with workers who were relatively well paid and unaffected by shutdowns caused by the pandemic.
> Read the full story at Denver Business Journal
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