If you’re waiting for the economy to recover from the COVID-19 pandemic, you might settle in for a lengthy stay.

Three economists who follow the local, Colorado and U.S. economies say a full recovery won’t happen until at least next year and perhaps as long as two or three years from now. A swift turnaround is not in the cards, say Tatiana Bailey, director of the University of Colorado at Colorado Springs Economic Forum; Tom Binnings, senior partner of local economic research firm Summit Economics; and Broomfield economist Gary Horvath.

All three economists expect the number of Colorado residents on payrolls this year to decline by a record amount, with consumer spending plunging and the tourism industry left in tatters after statewide restrictions closed many businesses

Read More At Article Source | Article Attribution