GDP Growth – The Rockies vs the U.S.
Posted by admin on November 30, 2010 under Colorado, Demographics, Regions | 
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As depicted in the Bureau of Labor Statistics graph below, the Rocky Mountain Region consistently out performs other regions in the nation in terms of GDP growth.
Click on the graph to see the full image
A curious question is why does the unemployment rate in the region, while lower than the nation, seem to be lagging the nation in terms of the degree of improvement (or lack thereof). The key factor centers on employment growth versus population growth. The Rockies continue to attract new households from around the nation, albeit probably at slower rates as migration has slowed in current economic malaise. Since 2000, Colorado has only added 1 new job for every 8 additional people in the state. That compares to a labor force participation rate of 1 job for every 2 person.
With new people comes consumption and investment thereby raising GDP, but not necessarily adding jobs at a rate sufficient to lower the unemployment rate.
