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Unformatted text preview: ate suggests the
labor force should be 318,754. Currently, it totals
294,797 people. This means about 24,000 discouraged workers have dropped out of the labor force.
Allowing for these workers, the local unemployment rate could conceivably be closer to 15.5%
compared to the current seasonally adjusted rate
Locally, sales tax collections and other local
government receipts are recovering slowly. The
Lodger’s and Auto Rental Tax (LART) receipts for
2011 are expected to total $3.9 million versus $4.2
million in 2007, the peak collection year. Sales and
continued on page 120
119 2012 Colorado Business Economic Outlook Around the State
continued from page 119 use taxes in Colorado Springs are anticipated to
come in at $118.5 million in 2011. This would be a
2.5% gain over 2010, but still below 2007 receipts.
The slowing economy and probable cuts in expenditures by the federal government suggest that
2012 will be accompanied by declining tourism, a
small increase in sales and use tax receipts, and a
potential decrease in defense...
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