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Unformatted text preview: h of the decline can be explained
by caution on part of mortgage lenders due to
the “robo-signing” controversy. Job and earnings
prospects remain weak. The state began adding
jobs in 2010, but growth has not kept pace with
expansion in the potential workforce. The sluggish labor market slows wage growth. Real average
earnings in early 2011 are below their levels three
years earlier. Colorado’s real median household
income fell by 4% over the past 10 years. Although
inflation was expected to ease in fall 2011, willingness to spend remained subdued.
The outlook for retail sales in late 2011 and in
2012 is fraught with uncertainty. The most likely
scenario is one of continued slow growth. Home
prices are not likely to recover until at least 2013,
and job and income growth will remain sluggish
at best. While consumer debt has come down,
confidence remains weak, and credit opportunities are restrained for many households. The retail
sales gain in 2012 should be slightly greater than b Forecast. Sources: Colorado Department of Labor and Employment and Colo...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.
- Spring '13
- The Lottery