5 compared to the current seasonally adjusted rate of

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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 of 9.6%. 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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