Colorado cities among the nation's richest, and poorest

Some interesting new number crunching shows vast differences among Colorado's major cities when it comes to wealth.

The numbers, compiled by portfolio.com and the Bizjournals chain of business newspapers, show the Denver suburb Centennial is the wealthiest city in the state and the 37th wealthiest nationally. An estimated 11 percent of households in Centennial have annual incomes of $200,000 or more.

Pueblo, meanwhile, has the least wealth among Colorado's major cities. The Steel City ranks 393rd in wealth among 420 cities surveyed in the study. Only 1.5 percent of households in Pueblo have annual incomes of $200,000 or more.

The study accounted for several other measurements of wealth to arrive at its rankings. Find details and a searchable database at the Buffalo Business First newspaper.

The policy implications arising from such big disparities are huge. But we at the Colorado Center on Law and Policy discuss such things all the time. How about readers offering suggestions for how public policies could be shaped in response to wealth disparities? Post your ideas in the comments section with this blog.

The Grand Junction model for health care

After two months of dormancy, the nation's health care reform debate restarts this week with a Thursday summit between the president and members of Congress. President Barack Obama on Monday unveiled a package of sweeping health reforms, which draws on elements of reform bills already passed in the U.S. House and Senate.

Here in Colorado, a relatively new news service is putting out a series of reports this week examining how health reforms in Grand Junction have led to lower costs and better outcomes for patients. The five-part series from Colorado Public News started Monday with an article headlined: "Grand Junction’s healthcare system: A model of low cost, high quality."

Good news for jobs in some industries, but remember the big picture

Job prospects are apparently bright for Colorado workers in a few select industries, according to a study highlighted in today's Denver Post. Any good news about the economy is encouraging, but job growth in the aerospace, telecommunications and financial services industries should be viewed in the context of conditions for all workers in the state.

Unfortunately, that context is rather grim, as the Colorado Fiscal Policy Institute's report on the "State of Working Colorado" demonstrates. The report, issued earlier this month, found economic conditions for Coloradans declined during the past decade as wages were stagnant, poverty increased and more state residents turned to the government for help with health care and food.

The study that was the subject of the Post's story was commissioned by the Metro Denver Chamber of Commerce and was "intended to showcase the shinier side of the state's most competitive sectors so it can bolster its case for recruiting and keeping those businesses," according to the newspaper. The study specifically excluded some industries that would have given a more complete picture. The State of Working Colorado included analysis of all industries.

Another point to consider: The industries identified as thriving in the chamber's study have been the recipients of huge government subsidies during the past couple of years. Firms in those industries have received bailouts, tax breaks and government contracts -- all of which has had the welcome effect of creating or saving jobs. It just reinforces what the Fiscal Policy Institute has argued for years: The public sector has an important role to play in the economy, and investment in public services can help yield economic security for everyone.

Slashing public services hurts the vulnerable, but there are other options

The Center on Budget and Policy Priorities has recently put out a number of reports that are highly relevant for Colorado. Here are links:

An Update on State Budget Cuts
Governors Proposing New Round of Cuts for 2011; At Least 44 States Have Already Imposed Cuts That Hurt Vulnerable Residents

Governors’ New Budgets Indicate Loss of Many Jobs if Federal Aid Expires

A Balanced Approach to Closing State Deficits

Colorado is a hard-working state, report finds

Colorado is a state that works.

It sounds like a political slogan, but it's also backed up by data reported in the Colorado Fiscal Policy Institute's "State of Working Colorado" study, released last week. Here's another clip from the report. Click the graph for a bigger version.

"The labor force participation rate is the ratio of the number of workers in the labor force to the total population in the same age cohort (16 years and older. Thus the labor force participation rate is a measure of the proportion of the working-age population actively engaged in the labor force -- either working or seeking work. Colorado's labor force participation rate, which is 72 percent, continues to be well above that of its regional and national peers."

Recession has hit hard for Colorado workers

The recession that started in December 2007 left an estimated 105,900 Coloradans out of work, a group of people equal in size to the population of Pueblo.

That's one of the major findings from the "State of Working Colorado," a report issued Friday by the Colorado Fiscal Policy Institute. The report examines trends in employment, poverty and other issues during the past 10 years. Here's a brief excerpt of the report, one of several I'll be posting here.

"In November 2009 Colorado gained 1,800 jobs. That marked the second consecutive month of net job growth and the first upward employment trend since the beginning of the recession. However, the state was still down 18,900 jobs (0.8% of pre-recession workforce) since May and down 90,000 jobs (3.9% of pre-recession workforce) since November 2008. Since the recession officially began in December 2007, Colorado has experienced a net loss of 105,900 jobs, or 4.5% of its workforce, ranking 27th nationally in recessionary job loss."