August 15, 2022

Rocky Daily News

Colorado Politics-Sports-Business-Weather

Colorado business leaders lose optimism about economy — but 55% expect to raise wages anyway

1 min read


No surprise here. Global unrest with the Russian invasion of Ukraine plus ongoing and rising inflation have Colorado business leaders less optimistic about the economy this year than last, according to a new survey.

But has that changed how they’re going about their business?

According to a new analysis by Leeds Business Confidence Index, 55% of the 195 local business leaders surveyed said they expect to raise wages while just 8% plan to reduce staff and 1% plan to cut hours. Nearly half, or 46%, will increase prices or pass costs to consumers because of inflation.

“They’re pessimistic about the (economic) backdrop,” said Rich Wobbekind, senior economist and faculty director of the Leeds Business Research Division at the University of Colorado. “But in their own responses,…

Tamara Chuang

2022-04-02 04:41:00

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