Perpetual recovery

Shrinking wages, workforce are indicators of local economic prospects on a plateau

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“Boom and Bust” is what took a huge bite out of the local economy.  It’s what happens when the local economy is not well diversified and relies too much on the energy sector.  It’s not like it’s the first time it has ever happened around here, but the people in power don’t learn.  Anyone that’s been in business knows that there are two things that are important: profit and cash flow.  An energy-only economy provides plenty of profit for brief periods of time but leaves us in a big hole at other times.  Stable industries like manufacturing and tourism provide the cash flow.  We need a balance or this is going to happen over and over again.

Good information as far as it goes. But a couple questions aren’t answered. What’s driving wage growth in the rest of the state, despite a decline or slow growth in the number of business establishments? If state oil and gas regulations are responsible for the difference between Vernal activity and Grand Junction’s, what accounts for difference between western slope and front range activity.

There’s an implication here that exploration and extraction industries drive the economy here, but it would be nice to hear from a regional economist without a stake in the business. Just bringing back the rigs isn’t really a long-term solution.

Where can I find the statistic that 600 businesses were killed? Which publication has that figure for Mesa County?



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