Metro Denver had the eighth strongest economy heading into the pandemic, but two years later, its economic ranking slipped to 121st out of 192nd metro areas, making it among the most deteriorated economies during the pandemic, according to a new study.
Metro Denver had the eighth strongest economy heading into the pandemic, but two years later, its economic ranking slipped to 121st out of 192nd metro areas, making it among the most deteriorated economies during the pandemic, according to aThe region joined the “tested” category of top-half economic performers between 2011 to 2019 who dropped to the bottom half between 2019 to 2021.
Brookings looked at three indicators each in four categories, including typical measures like job growth, GDP growth, wage growth, productivity and the employment rate. It also had a category for racial inclusion to measure the gap in employment, earnings and poverty among various groups. Almost mirroring in reverse of Denver’s decline, Colorado Springs’ ranking went from 119th to sixth, making it among the metros that came out on top economically despite the chaos of COVID-19. One explanation is that El Paso County is more reliant on federal and military spending, which were not impacted as severely as other areas like tourism, health care and retail trade.
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