The unemployment rate in Colorado Springs fell to 7.4% in September, its lowest level since December of last year. This continues a downward trend from 8.2% in July to 7.8% in August.
According to Fred Crowley, senior economist for the Southern Colorado Economic Forum,“This, and the fact that local employment numbers are no longer deteriorating, is more affirmation and evidence that the local recession is over and has been for about six months. Most of the other local economic indicators are moving upward. The recovery won’t be rapid, however, because the local economy no longer has much of a manufacturing base that can be recalled from layoff.”
Click here to read more on the current state of the city’s economy.