Business & Entrepreneurship

Why anti-Asian discrimination often goes unnoticed at work

Katy Hill — Wed, 21 Jan 2026 15:35:36 +0000

Why anti-Asian discrimination often goes unnoticed at work Katy Hill Wed, 01/21/2026 - 08:35

Katy Marquardt Hill

Even in workplaces that aim to be fair, discrimination can slip by unnoticed. New research finds that when Asian Americans experience potentially biased treatment at work, others are less likely to recognize it as discrimination or step in as allies.

Tony Kong

"In many workplaces, it’s not that anyone is trying to be unfair, but patterns of awareness and interpretation add up,” said Tony Kong, professor of organizational leadership and information analytics at the Leeds School of Business and co-author of the research.

Published online in November 2025 in the journal Organization Science, the research examined why racial discrimination against Asian Americans is often overlooked. Across 13 studies, the researchers used experiments, surveys and real-world data to examine workplace scenarios, perceptions of discrimination against various Asian American subgroups, and nearly 600,000 discrimination claims filed with the U.S. Equal Employment Opportunity Commission between 2011 and 2017.

The researchers, who also included Sora Jun of Rice University and Junfeng Wu of the University of Texas at Dallas, found that Asian Americans are less likely to be seen as “prototypical” targets of racial discrimination at work. In other words, Asian Americans tend to be overlooked as targets of discrimination, even in cases identical to those experienced by Black Americans.

Kong said the researchers chose Black Americans as a comparison group because they are likely to be the most prototypical target of racial discrimination and are the most studied racial group in workplace discrimination research.

"Asian Americans tend to fall in the middle of the U.S. racial hierarchy,” Kong said. “People usually focus more on the top or the bottom of this hierarchy. If you’re in the middle, you get less attention.”

“The middle part is tricky, because people likely think, ‘You have resources, you have ability, so I don’t need to support you,’ even though Asian Americans might still face biased or discriminatory treatment and need allyship,” Kong said.

In controlled and field experiments, participants reviewed scenarios such as a job candidate being passed over for a position. If the job candidate was Asian American, observers were less likely to perceive discrimination than if the candidate was Black, even though the scenarios were otherwise the same. This “invisibility effect” showed up across multiple Asian American subgroups, including East Asian, Southeast Asian and South Asian candidates.

Real-world data also supported the pattern: Discrimination claims filed with the EEOC by Asian American employees were significantly less likely to be resolved favorably—13.3% of cases—compared with 15.6% for Black employees and 15.7% for multiracial employees.

Kong said these patterns likely extend beyond discrimination against Asian Americans. Any social group that doesn’t match people’s mental image of who faces discrimination can be overlooked, he said, and as a result, may receive less support from others. That could include, but is not limited to, other racial and ethnic minority groups, some gender and sexual minority groups, and people with intersectional identities, he said.

It’s worth taking a closer look at which social groups don’t fit the “usual picture” of discrimination—and what that means, Kong said. “These are probably the people who fall victim to our psychological biases or blind spots," he said. "We need to check our assumptions and beliefs first: Does the person fit the prototype? If not, we need to be extra careful about the judgments we’re making, as the judgments could lead to non-action."

The findings point to a broader challenge in creating inclusive and equitable workplaces, Kong added. “When discriminatory experiences go unseen due to our mental models that guide our interpretation, prediction, decision-making and problem-solving, bias can affect our recognition of a person’s negative experience and our bystander responses,” he said, adding that failing to act against discrimination undermines efforts to create inclusive and equitable workplaces.

"This isn’t about making anyone feel guilty; we are human and have psychological tendencies," Kong emphasized. "It’s about awareness of a systematic psychological problem that we need to address collectively through practices, interventions and policies."

A new study finds bias is often overlooked when people aren’t seen as likely targets of discrimination.

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The secret behind successful CEOs: Structured thinking beats gut instinct

Katy Hill — Tue, 13 Jan 2026 16:26:10 +0000

The secret behind successful CEOs: Structured thinking beats gut instinct Katy Hill Tue, 01/13/2026 - 09:26

Katy Marquardt Hill

When CEOs make strategic decisions such as where to compete, what to prioritize or how to grow, many rely on instinct—that gut feeling often credited for Steve Jobs’ success at Apple. But a new study of hundreds of CEOs shows that it’s a structured decision-making process, not intuition, that drives success.

Mu-Jeung (MJ) Yang

“CEOs who are most effective start by identifying the real problems, consider multiple possible solutions, and then test their assumptions with evidence,” said Mu-Jeung (MJ) Yang, co-author of the study and assistant professor of strategy and entrepreneurship at the Leeds School of Business. “They use a structured process, very much like how a scientist approaches a problem.”

Why CEO strategy is hard to study

Understanding how CEOs make strategic decisions has long been elusive in management research. “Whenever we study successful companies like Apple or Nvidia, it’s tempting to list all the reasons they succeed—hindsight makes it look obvious,” Yang said. “But leaders don’t have a clear view of the future when they make decisions. If the key factors for success were that obvious, everyone would follow them and the competitive advantage would disappear.”

Most research, he added, looks backward at outcomes rather than at the decision-making process itself. And because CEOs are difficult to reach and strategy discussions are often confidential, large-scale research on how they actually make choices has been rare.

To address this blind spot, Yang and his colleagues surveyed 262 Harvard Business School alumni currently serving as CEOs across the U.S., U.K., and Canada, spanning industries from manufacturing to tech to health care. The study, published in Management Science in September 2025, offers a look into how top executives make strategic calls that can influence a company’s health.

The researchers, including Michael Christensen of the University of Pennsylvania's Wharton School; Nicholas Bloom of Stanford University; and Raffaella Sadun and Jan Rivkin of Harvard Business School, asked CEOs to describe recent strategic changes—such as entering new markets or launching products—and how those decisions were made and tested. Using structured interviews modeled on the World Management Survey, they scored responses on a continuum from intuitive, reactive styles to structured, evidence-based ones. “We wanted to understand the process, not just the outcomes,” Yang said. “How do great strategies actually come to be?”

Structure pays off

The study found that CEOs who used more structured, analytical approaches tended to lead larger and faster-growing companies. Over time, their firms’ performance improved, which points to the advantages of systematic decision-making, Yang said.

Structured strategic thinking shares much with critical thinking and the scientific method, he added. “It starts with identifying problems proactively, not just reacting when something goes wrong,” he said. “Then you cultivate multiple possible solutions, spell out what would have to be true for each to succeed, and test those assumptions with evidence.”

He added that structure doesn’t mean getting bogged down with bureaucracy and pointed to Procter & Gamble under former CEO A.G. Lafley as an example. Instead of endless PowerPoint presentations, Lafley and consultant Roger Martin focused discussions on core questions such as where to invest and what assumptions must hold true for success.

Business school matters

The study also found that business education can have a lasting influence on how executives think. Looking at changes in Harvard Business School’s strategy curriculum, the researchers traced differences in CEOs’ strategic styles back to their exposure to the decision-making frameworks of Michael Porter, a Harvard Business School professor and economist known for his influential research on business strategy.

“Whatever we teach in business education will stay with students for a long time and may even shape how they interpret the world,” Yang said. “At the same time, we should move away from only explaining why some firms did well in the past toward giving tomorrow’s leaders tools to come up with great strategies going forward.”

The future of strategic thinking

Yang believes that tools like artificial intelligence could eventually enhance CEO decision-making. “AI can be an opportunity to improve strategic decision-making if deployed correctly,” he said. “It can’t replace expert decision-makers, but it can be a thought partner that boosts critical thinking and helps avoid costly mistakes.”

Whether CEOs are aided by AI or not, Yang stressed that strategic decisions work best when they’re approached systematically and thoughtfully.

“It’s about being proactive, consistent and hypothesis-driven—making decisions by testing assumptions, not just by going with your gut,” he said.

A new study of hundreds of chief executives suggests that methodical decision-making, not intuition, drives success.

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CUriosity: How can you make your resolutions stick?

Daniel William Strain — Mon, 05 Jan 2026 22:44:18 +0000

CUriosity: How can you make your resolutions stick? Daniel William… Mon, 01/05/2026 - 15:44

Katy Marquardt Hill

In CUriosity, experts across the CU ��ý�� campus answer questions about humans, our planet and the universe beyond.

This week, Alix Barasch, a marketing professor in the Leeds School of Business, says that virtual badges and digital trinkets may sound silly, but they really can help you reach your goals. She answers the question: "How do I keep my New Year’s resolution?"

New Year's Eve in New York's Times Square. (Credit: CC photo via Flickr: https://www.flickr.com/photos/76807015@N03/11745399044)

Millions of people open apps each day to protect something with no monetary value but plenty of psychological punch: a streak. Whether it’s logging language lessons, tracking meals, meditating or hitting step goals, missing a day can feel oddly devastating.

There’s a reason it feels that way. Streaks turn progress into a reward of its own, according to Alix Barasch, associate professor of marketing at the Leeds School of Business, who studies how technologies influence consumer behavior.

Alix Barasch

“A streak has no real value in the world, but it has real psychological value,” she says.

That mental pull may be why streaks (and the apps that track them) help make resolutions stick. Even when apps offer seemingly trivial rewards, they can still influence behavior.

“These apps add an extra layer to goals,” Barasch says. “Tracking streaks and earning badges along the way turns something you might already want to do—like practicing a language or exercising—into something you really care about, even if the reward is just a number or a virtual icon.”

This is gamification, the process of turning ordinary tasks into a kind of game. Apps use badges, streak counts, progress trackers and virtual currencies to make those tasks feel like achievements. For example, the meditation app Calm awards badges for streaks of consecutive days of practice and completing specific programs, such as those for stress and anxiety. For people with fitness goals, the Apple Watch encourages users with three colorful rings that users aim to close each day: “move” (calories burned), “exercise” (activity minutes), and “stand” (moving around for at least 1 minute during 12 hours of the day).

“Tracking your progress, earning badges, keeping a streak—these things all give the behavior a sense of meaning,” Barasch says.

But apps also dutifully notice if you skip a day’s workout. That can feel bigger than a small slip and really knock your motivation.

Previously in CUriosity

Why hasn't it snowed much this year, and what does that mean for Colorado?

Or read more CUriosity stories here

“Psychologically, it’s extra demotivating,” Barasch says. “Breaking a streak affects your likelihood of keeping up the behavior.”

Apps have gotten good at forgiving streak breaks, which can help users overcome slip-ups.

The language app Duolingo, for example, offers “streak repairs” via subscription features or “gems” that can be earned or bought. Users can also preemptively protect their streaks with “freezes.”

Not surprisingly, sharing streaks with friends or tracking them within a group can make people more likely to stick with a resolution.

“For me, there does have to be a layer of accountability,” Barasch says. “You don’t necessarily need shared tracking, but social connection helps.”

Over time, streaks reinforce behavior simply by making it part of your routine. Showing up day after day helps solidify those actions into habits that can last even without the digital nudges. To make a resolution stick, she recommends leaning on simple forms of gamification like earning badges to reinforce the behavior long enough for it to become a habit.

And that’s the real goal.

“If it becomes part of your day,” Barasch says, “you’ll probably keep doing it—even without the rewards.”

Virtual badges and digital trinkets may sound silly, but they really can help you reach your goals, says marketing researcher Alix Barasch.

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The science behind successful holiday fundraising stories

Katy Hill — Tue, 16 Dec 2025 15:47:08 +0000

The science behind successful holiday fundraising stories Katy Hill Tue, 12/16/2025 - 08:47

Katy Marquardt Hill

The holidays bring out generosity, and for fundraisers, that’s an opportunity. But the right message can mean the difference between an appeal that goes unnoticed and one that inspires people to give. New research shows that the key to success lies in storytelling—specifically, the emotional journey of the story.

“People are often convinced by the heart, not just the brain,” said Liu Liu, assistant professor of marketing at the Leeds School of Business and co-author of the working paper, “Building Persuasive Stories With Emotional Sequences.” “Emotional storytelling reaches where reason sometimes can’t, so building empathy and a sense of connection is what turns a story into action.”

Liu Liu

The researchers, who included Leeds marketing professor Laura Kornish and Samsun Knight, assistant professor of marketing at the University of Toronto, analyzed more than 14,000 medical fundraising pitches on GoFundMe. They measured emotions across stories using an AI tool that detects emotion in text. They focused on three key emotional categories that are important to online fundraising: sadness, fear and caring. A fourth category–neutrality–was included to capture overall emotionality.

The findings were clear: Stories that start with sadness and end with caring are the most likely to reach their fundraising goals. For example, a fundraiser might begin by describing a patient’s sadness upon receiving a difficult diagnosis, then shift to expressions of caring and gratitude as friends and family rally around them, highlighting the support that a broader community, including donors, can provide.

Other story arcs, such as those that stay caring throughout or shift from sadness to a neutral tone, also tended to appear in higher-earning campaigns, according to the study. But the researchers caution that these trends are based on observational GoFundMe posts rather than controlled experiments, meaning they should be interpreted as correlations, not proof that these emotions cause donors to give more.

It’s not just which emotions a story evokes, Liu said; it’s the way those emotions unfold throughout the narrative.

“The order matters. A sad beginning captures attention and builds empathy. Ending with caring fosters identification with the person asking for help, which motivates donations,” she said.

Testing emotional storytelling

Measuring the emotional impact of stories is not easy. “Stories are complex and subjective. We wanted to capture narrative and language patterns in a scalable, accurate way,” Liu said.

To make sure the study’s results weren’t influenced by other factors that could affect emotional perception and fundraising success, the researchers developed a testing method involving crowd-sourced, large-language-model (LLM) assisted rewrites that include humans. LLMs generated rewritten fundraising narratives at scale, while humans ensured factual accuracy and natural-sounding emotional progression, Liu said.

The team first selected real fundraising pitches on GoFundMe and identified their baseline emotional arcs, then used the LLM to create rewrites targeting specific emotional sequences, such as sadness to caring. Human reviewers corrected any inaccuracies the LLM introduced and refined the text, then both the original and rewritten pitches were evaluated for persuasiveness and emotional impact.

Why the sadness-to-caring arc resonates

The researchers also explored why stories that move from sadness to caring seem to resonate with donors. “Sadness may signal the problem, while caring may highlight the humanity and gratitude of the person asking. That combination makes donors feel close to the protagonist, and that identification increases donations,” Liu said.

In other words, people are more likely to give when they can see themselves in the story and connect with the person or cause.

Even short-form stories like social media posts or email appeals can benefit from this approach, Liu said. And although the study centered on medical fundraising, the findings can be used as a blueprint that other types of nonprofits can adapt to craft more compelling calls for donations.

“Our work identifies one powerful sequence for medical fundraising, but the method can be applied more broadly: Nonprofits can find the sequence that resonates most with their audience,” Liu said.

New research shows that donation appeals work best when they follow certain emotional arcs.

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You're probably misreading online reviews. Here's why

Katy Hill — Mon, 15 Dec 2025 15:16:23 +0000

You're probably misreading online reviews. Here's why Katy Hill Mon, 12/15/2025 - 08:16

Katy Marquardt Hill

If you’re shopping for gifts or hunting for deals this season, chances are you’re putting a lot of trust into star ratings. A 4.6 must be better than a 4.2, right? And if you find something that’s cheap and highly rated, you’re clicking the “buy” button.

Pause here before purchasing. New research uncovers a major blind spot in how people read and interpret reviews that can lead to bad purchases, wasted money and piles of low-quality products. As many as 98% of consumers check reviews before buying, and most assume the stars reflect only quality, not context or expectations.

Ying Zeng

“When consumers are rating a product, they are giving a ‘vibe’ rating to some extent,” said Ying Zeng, assistant professor of marketing at the Leeds School of Business and co-author of the study, published in the journal Psychology & Marketing in November 2025. “This vibe includes a lot of things—what they paid, how the product looks, how well it performs, and what the rater is currently feeling.”

How shoppers misread ratings

To explore this, Zeng and her co-authors—including Thomas Hsee of Stanford University and Christopher K. Hsee of Cheung Kong Graduate School of Business—ran six studies using everyday items like power banks, home theater projectors and maps. Each study followed a two-phase approach: Participants first rated products they had used, then a separate group of prospective buyers interpreted those ratings.

The results were consistent: Raters judged higher-priced products more harshly, so readers systematically underestimated the true quality of expensive items. They even assumed cheaper products were better in some cases, unless they consciously considered how price had shaped the original ratings.

“Rating is not just about quality, it’s about the quality-to-price ratio,” Zeng said. “Readers don’t see that. They assume raters are very impartial and very sophisticated—that they understand how to disentangle price from the product quality.”

Expensive products are penalized

Price influences ratings in ways most shoppers never consider, Zeng said. When people pay more for something, they expect more.

“If it’s an expensive product, consumers tend to have a higher standard because there is a pain of paying,” Zeng said. “So the more I pay, the more I discount my rating.”

How to approach online reviews

Be wary of cheap products with high ratings. High stars may just reflect low expectations not high quality.
Give expensive items with slightly lower ratings the benefit of the doubt, especially when they’re on sale. The rating may reflect the original full-price expectations.
Don’t rely solely on the rating number. Read reviews to get the real picture.
Look for patterns not outliers. Focus on recurring complaints and strengths rather than single extreme reviews.
Remember that ratings reflect a “vibe.” Appearance, user errors, the rater’s mood and other factors all contribute to the score.

That means pricey products often look worse on paper not because they are worse, but because the cost raised the raters’ expectations. Then, when those expensive items later go on sale, their lower ratings can scare off shoppers who don’t realize the ratings were influenced by the original full price.

“If an expensive product has a low rating but now it’s discounted, it’s probably worth considering that product,” Zeng said. “Compared to a cheap product with a high rating, you have to consider that the actual quality could be higher.”

The trap of the cheap, highly rated product

On the flip side, low-priced products often get more glowing scores because raters’ expectations were low to begin with.

“The combination of low price and high rating is very appealing,” Zeng said. “It may feel as if it’s a high-quality product with a very good deal, but that’s not necessarily the case.”

That’s hard to resist, as even Zeng can attest: “Even though I’m an expert in this area, I’m always under-adjusting. I know I should be cautious, but I still get trapped by a product with a cheap price and high rating.”

Cheap, low-quality items also create a sustainability problem. Zeng noted that people often don’t bother returning these products because the time and cost outweigh the refund, leading to more waste.

Takeaways for shoppers

Star ratings are easy, fast and intuitive—which is exactly why we overuse them.

“Numbers are easy to rely on, but they contain way less information than the text itself,” Zeng said.

Her advice: Read reviews, or even AI-generated summaries of reviews, which can sift through hundreds of comments and identify patterns.

“AI is a super powerful tool that summarizes the key complaints and key strengths,” she says. “Use that information and evaluate it with your own needs.”

And don’t forget this simple truth: “Ratings are contaminated by a lot of things,” Zeng said. “They’re emotional, contextual and often heavily influenced by price.”

Understanding that, especially during the shopping season when time is limited and pressure is high, can help you make better, less wasteful purchases.

Most reviews reflect a “vibe” and not pure quality, making bargains not the deals they seem, according to a CU marketing researcher.

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After new SEC rule, companies are strengthening accounting—not executive pay

Katy Hill — Wed, 10 Dec 2025 16:09:04 +0000

After new SEC rule, companies are strengthening accounting—not executive pay Katy Hill Wed, 12/10/2025 - 09:09

Katy Marquardt Hill

When the U.S. Securities and Exchange Commission finalized long-awaited rules requiring companies to “claw back” executive pay after corrections in their financial statements, critics warned that boards would adjust CEO pay packages to shield executives from potential losses. But new research tells a different story that could be reassuring to investors: Companies are improving their accounting practices to prevent errors in the first place.

Andrea Pawliczek

The SEC’s clawback rule is a product of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, enacted after the global financial crisis with the aim of recovering executive pay tied to misstated financial results. After years of debate and revisions, the rule finally took effect in October 2022.

In a working paper, researchers with the Leeds School of Business analyzed data from 2019 to 2024 on U.S. public companies affected by the rule, including firms that adopted clawback policies when it took effect in 2022 as well as those that had already done so voluntarily.

“Importantly, we didn’t see CEO pay increasing or firms shifting away from performance-based compensation,” said Bryce Schonberger, a co-author of the study and assistant professor of accounting. “That was surprising.”

In earlier work related to a related Dodd-Frank provision—the CEO pay-ratio disclosure rule—Schonberger found that company boards often restructured executive pay to offset potential backlash. He expected a similar response under the clawback rule, but found no sign that companies weakened performance-based incentives, an outcome he called both unexpected and meaningful.

“We’re seeing encouraging signs,” said Andrea Pawliczek, assistant professor of accounting at Leeds and co-author of the study. “Firms are hiring more accounting staff and strengthening their financial reporting to avoid errors in the first place.”

The researchers, who also included Michael Dambra, associate professor of accounting and law at the University at Buffalo SUNY, tracked how newly affected companies differed from those that already had clawback policies in place to see how the rule itself changed companies’ behavior.

Bryce Schonberger

The results show that newly affected companies invested more heavily in financial reporting by hiring additional accountants, paying higher audit fees and more quickly releasing earnings reports. Some companies also added more ways to gauge performance in CEO pay plans, further linking their pay to performance.

Investors responded positively to the new rule, according to the paper. Share prices for affected firms rose slightly—about 1% to 2%—around key SEC announcements, indicating that the market viewed the rule as a positive change, Schonberger said. Analyst coverage of these companies also increased, he added, signaling greater investor attention and confidence.

What is a clawback?

The SEC's clawback rule allows a company to reclaim a bonus or stock award paid to an executive if the company later restates its financial results. The SEC now requires all publicly listed companies to have a written policy for recovering such incentive-based pay when restatements occur.

So far, only a handful of companies have reported clawbacks under the new SEC rule. For instance, in April 2025 Macy’s recovered $600,000 in executive bonus compensation because it misclassified over $150 million in delivery expenses over three years.

Schonberger noted that financial restatements often take years to surface, so it will be some time before the rule’s full impact on misreporting becomes clear.

“It’ll be interesting to see how markets and the media react when larger clawbacks eventually happen,” he said. But so far, the results reflect a broader shift among companies toward transparency and market visibility, Pawliczek said.

“From an investor’s perspective, what matters is alignment. You want the CEO’s incentives tied to firm performance,” Pawliczek said. “Our findings—that companies aren’t shifting away from pay-for-performance—should reassure investors that those incentives remain in place.”

Publicly traded firms are hiring more accountants and improving financial reporting in response to a “clawback” rule that recovers CEO bonuses if earnings turn out to be misstated, new research shows.

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Colorado's economic forecast for 2026: Steady growth despite headwinds

Katy Hill — Mon, 08 Dec 2025 13:06:20 +0000

Colorado's economic forecast for 2026: Steady growth despite headwinds Katy Hill Mon, 12/08/2025 - 06:06

Katy Marquardt Hill

Amid a shifting economic landscape and slowing population gains, Colorado’s economy will continue to grow steadily in 2026, according to a forecast released by the Business Research Division (BRD) at the Leeds School of Business in tandem with the 61st annual Colorado Business Economic Outlook Forum in Denver.

The forecast, developed by the BRD in collaboration with the State of Colorado and insights from more than 130 leaders across the state’s business, education and government sectors, projects job growth of 0.6% in 2026, an addition of 17,500 jobs throughout the state.

Richard Wobbekind

Eight of Colorado’s 11 major industries expected to add jobs in 2026, led by the education and health services sector; trade, transportation and utilities; and government. Meanwhile, three sectors are projected to post modest losses: information; leisure and hospitality; and professional and business services.

Colorado’s real GDP is projected to rise 2.1% in 2025 and 2.9% in 2026, outpacing national growth, which is expected to reach 2.1% in 2026. While consumption, investment and government spending are expanding more slowly, consumer resilience has remained strong, with retail sales and spending defying weaker consumer confidence surveys. Real personal consumption grew an estimated 2.5% in 2025 and is projected to notch moderate growth of 1.7% in 2026.

“Moderate growth in GDP at the national and state level may appear inconsistent with the sluggish employment growth outlook,” said Richard Wobbekind, senior economist at the Leeds School of Business and faculty director of the BRD. “The labor market is constrained, particularly by slower population growth, which is dampened by lower levels of international immigration. When employment can’t expand as quickly, productivity has to pick up.”

Over the past 15 years, Colorado has been one of the strongest state performers in the nation, posting top-10 growth in GDP, population, employment and home prices. But its near-term growth has slowed to more middle-of-the-pack rankings as population growth, particularly from net migration, continues to slow, posing challenges for labor force and job expansion.

Still, several economic indicators showed faster growth or improved rankings compared with last year, and Colorado continues to rank among the top 10 states for per capita income, average annual pay and labor force participation.

Brian Lewandowski

“Job growth in Colorado has been subdued in 2025, and growth is absent from some of the usual areas of strength in the state’s economy," said Brian Lewandowski, executive director of the BRD. “Barring some extraordinary economic event, Colorado is projected to maintain growth in output, income and employment in 2026, though the job growth will remain below average.”

Here’s a closer look at some of the state’s key economic indicators:

Population growth. Population growth in Colorado is expected to remain modest in 2026, rising 0.6% with a total gain of 35,100 people—split between 19,500 from natural increase and 15,700 from net migration.
Labor force growth. Structural demographic shifts, including the retirement of baby boomers and slower international migration, are weighing on Colorado’s labor force. In August 2025, the state’s labor force participation rate was 67.4%, down from 68.1% the previous year but above the national average of 62.3%.
Unemployment. Colorado's unemployment rate is projected to fall from an estimated 4.5% in 2025 to 4.1% in 2026 in response to labor supply constraints.
Personal income. Personal income, as well as wage and salary income, are projected to increase in 2026 by 4.5% and 3.6%, respectively.
Inflation. Inflation averaged 2.3% in the Denver-Aurora-Lakewood metro area in 2025 and is projected to be 3% statewide in 2025 and 3.5% in 2026.

Key economic risks

The report highlights the following challenges that could impact Colorado's economy in 2026:

Tariffs: New U.S. import tariffs may raise inflation and create supply constraints, but they could also encourage domestic production.
Tax cuts: The 2025 legislation is expected to stimulate spending and investment, although it will increase the federal deficit.
Labor and immigration: Retirements and stricter enforcement are limiting labor supply, which could slow economic growth.
Inflation and interest rates: Prices are rising, and the Federal Reserve is continuing rate cuts amid soft employment growth.
Artificial intelligence: Adoption is likely boosting productivity but also risks job displacement, with Colorado regulation taking effect in 2026.
Debt: National debt and interest costs are climbing, and a recent government shutdown cost an estimated $14 billion.
Housing: Elevated mortgage rates are limiting affordability, and home prices remain high.
Market bubble: Rapid AI investment may be overvalued, with uncertain economic returns despite potential productivity gains.
Climate: Increasingly frequent and costly disasters threaten GDP, insurance costs and household finances.
Health care: Expiration of premium tax credits could double insurance costs and increase the number of uninsured.

A job growth rate of 0.6% supports steady gross domestic product gains, as most industries add jobs.

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The way you say 'thanks' matters at work

Katy Hill — Fri, 21 Nov 2025 13:47:17 +0000

The way you say 'thanks' matters at work Katy Hill Fri, 11/21/2025 - 06:47

Katy Marquardt Hill

Many of us assume expressing gratitude is as simple as saying thank you. But the way you deliver those two words in the workplace—whether through a handwritten note, a shared coffee break, or a small gesture that lightens someone’s load—can affect how the receiver interprets them, according to new research.

“We want to say thanks, and we do need to make people feel appreciated, but that is more likely to happen when we show responsive gratitude that is thoughtful and specific,” said Tony Kong, a professor of organizational leadership and information analytics at the Leeds School of Business and a co-lead author of the multi-study research, published in the Journal of Management in November 2025.

Tony Kong

Showing gratitude matters in everyday life—in families, friendships and communities. It matters even more at work, where feeling appreciated is deeply tied to trust and motivation. Yet research consistently finds that even when managers believe they’re expressing gratitude regularly, many employees don’t feel appreciated, Kong said.

“Appreciation is a barometer for safety in a relationship,” he said. “It’s one of the most important ways we build healthy relationships at work.” It’s not just how often bosses say thanks, he adds—it’s whether they express it in a way that is responsive to the person’s preference.

The researchers, who also included Sharon B. Sheridan of Clemson University; Liuba Y. Belkin of Lehigh University; Maureen L. Ambrose of the University of Central Florida; and William J. Becker of Virginia Tech, identified two broad types of gratitude expressions that show up in the workplace:

Thanks that highlight what someone did well

This type of gratitude, called “agentic,” is the most work-oriented. “It’s about recognizing skills, accomplishments or results,” Kong said. Examples include praising someone in a meeting, offering a promotion or new project, or pointing out their achievements.

He noted that this type of appreciation often ties into work arrangements and career development: “Some people really want to be mentored. They want opportunities that help them feel like they’re growing—maybe a really good assignment or a meaningful chance to step up,” he said.

Thanks that show you care about the person

This type of gratitude, “communal,” is more focused on connection and affirmation and can easily apply beyond work settings. “It’s about warmth and thoughtfulness,” Kong said. Examples include a handwritten note or a personal “thank you” delivered with a hot cup of chai on a chilly morning.

Sometimes simple gestures like these make a big impression. “Maybe it’s homemade cookies that make a big difference,” he said. “Those small things can be powerful—but usually only for people who prefer that communal form of appreciation.”

Too many batches of cookies, high-fives and sentimental messages can dilute the impact, according to the study.

“Too much of it can feel routine or even overwhelming,” Kong said. “The point is that people have different preferences, and leaders need to be responsive to those needs in expressing gratitude."

Takeaways for managers

The research offers a clear message for managers: Don’t rely heavily on generic appreciation. Tailor it.

“If all you do is give a thank-you card, people may start questioning whether you put a lot of thought into it,” Kong said. “Leaders need a variety of tools based on what people tell us they appreciate.”

Some employees may want acknowledgement tied to their accomplishments, while others care more about feeling seen as a person and part of a community. And some employees want both.

Managers can start by checking in with employees about what kind of appreciation feels meaningful to them. “Just ask—kind of like asking your partner what kind of gift they want,” Kong said. “People will tell you. Some might be reluctant at first, so it takes a little trial and error.” He added that it also helps to recognize whether someone prefers public praise or a private thank-you.

The study also suggests organizations should focus less on broad, one-size-fits-all appreciation programs and more on helping managers understand the preferences of people on their team. That’s because ultimately, appreciation has the most power when it feels responsive, Kong said: “When gratitude fits the person, employees feel more appreciated, safer and more willing to contribute their voice.”

10 ways to say “thanks” at work

The ideas below are from surveys of real employees, Kong said, but leaders shouldn’t treat this as a checklist. “People have unique preferences,” he said. “The key is being responsive and perhaps also getting creative.”

Contribution-focused thanks (agentic)

These show appreciation by recognizing someone’s talent, growth or contributions.

Praise their work during a meeting or performance review.
Make their job easier like swapping a shift or offering flexible hours.
Reward their effort with a bonus, raise or extra day off.
Support their career by giving them a step-up project, mentoring or new opportunities.
Give formal recognition such as an award or nomination.

People-focused thanks (communal)

These show appreciation through warmth, connections or personal gestures.

Use warm body language such as a smile, high-five or pat on the back.
Offer kind words like a sincere compliment or verbal “thank you.”
Share treats like coffee or homemade cookies.
Give a small gift like a gift card, book or event ticket.
Write it down in a thank-you note, card or thoughtful email.
Build connections by chatting after work or spending time together socially.

Not all thank-yous land the same. Research shows the right kind of appreciation can boost morale and encourage open communication.

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Labubu 'blind box' trend reveals why surprise and scarcity keep us shopping

Katy Hill — Mon, 17 Nov 2025 17:17:40 +0000

Labubu 'blind box' trend reveals why surprise and scarcity keep us shopping Katy Hill Mon, 11/17/2025 - 10:17

Katy Marquardt Hill

When assistant marketing professor Ying Zeng clipped a small plush doll—a cute, fox-like character from the Shanghai Disney Resort—to her handbag earlier this year, she didn’t expect it to spark so many conversations. People often mistook it for Labubu, the mischievous, wide-eyed collectible that has been at the center of a global craze. Intrigued by the buzz, Zeng decided to buy a real Labubu.

Ying Zeng

The appeal, she says, is rooted in the collectible’s “blind box” model: Shoppers don’t know which figure they’ll get, and that uncertainty, combined with limited availability, contributes to the excitement.

“It’s fun, it’s uncertain, and it’s social,” Zeng says. “Opening a blind box and sharing the surprise with others brings real joy.”

Zeng spoke with CU ��ý�� Today about why adults collect toys, why blind boxes are so compelling and what Labubu reveals about shopping psychology.

What motivated you to buy a Labubu?

I want to have a decorative doll hanging on my handbag. I used to carry a LinaBell doll, the signature character of the Shanghai Disney Resort. I find it cute and sweet, and it carries social meaning—it reflects my love for the magical Disney world and expresses my identity as Chinese. When people kept mistaking it for Labubu, I thought, why not just buy one?

What makes the blind-box experience so appealing?

The uncertainty is part of the fun—you never know what you’ll get until you open one. Sharing the experience makes it even better. I often pick blind boxes with my husband, and we compare the dolls we get. When I pull an ugly one, he laughs at me. When his doll turns out uglier than mine, I laugh at him.

These toys spark conversation and social connection and express identity. I feel young, curious and trendy when I spend $30 on a blind box that so many others, especially those from my in-group, are also following.

What role does scarcity play in shaping consumers’ choices and spending on collectibles like Labubu?

Scarcity makes things feel more valuable, creates a sense of urgency, heightens the feeling of exclusivity among those who obtain them, and often sparks conversations and competition.

In what ways do influencers, celebrities and social media boost interest in collectibles like Labubu?

It wasn’t until the K-pop star Lisa of Blackpink started carrying a Labubu doll at her concerts that I became interested in it, even though I had been aware of blind boxes for a while.

Celebrities not only make products more well-known but also provide cues about the contexts and lifestyles in which those products fit. When Lisa carries a Labubu doll, she signals that it is associated with fashion, trends and a modern, active lifestyle—qualities that reflect her own image. Her outfits, which match the doll she carries, also inspire people with ideas about how the doll can complement their style and the occasion.

What makes Labubu more than just a toy to its buyers?

Consumption is not just about buying what you need; it is also about constructing the lifestyle and personal image you aspire to. Labubu doesn’t serve any practical function for me, but the moment I place an order, I feel a sense of joining a community and a shared celebration—spending money on a tangible product while gaining psychological value.

When collectibles go viral, how long do these crazes usually last?

It’s possible that Labubu and blind boxes may or may not be passing fads. The fact that I, someone who doesn’t spend much time or attention tracking their availability, can easily buy one now suggests that they are no longer as popular as they once were.

A similar pattern can be seen in the declining prices of Labubu dolls on secondhand markets. However, the inherent entertainment and conversational value of blind boxes, combined with their aesthetically appealing designs, suggest that they may not necessarily be short-lived trends.

Marketing professor Ying Zeng explains the psychology behind blind-box toys and how they engage our curiosity, identity and social instincts.

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Government reopens but economic uncertainty lingers: What consumers should know

Katy Hill — Thu, 13 Nov 2025 15:17:55 +0000

Government reopens but economic uncertainty lingers: What consumers should know Katy Hill Thu, 11/13/2025 - 08:17

Katy Marquardt Hill

After a 43-day shutdown—the longest in U.S. history—the government is reopening, but the effects are far from over. Key economic reports on jobs, inflation and retail sales remain delayed, and in some cases may never be released, leaving policymakers and businesses to make decisions without a clear picture of the economy.

The White House said Wednesday it was unlikely that key federal inflation and labor reports affected by the shutdown would be released, although September’s employment data, collected before the shutdown, is expected to come out soon. The added uncertainty comes as new tariffs on imported goods could push up prices on everything from toys and electronics to clothing heading into the holidays.

Edward Van Wesep

CU ��ý�� Today caught up with Edward Van Wesep, professor and chair of the finance division at the Leeds School of Business, to discuss what the loss of economic data means for consumer confidence and spending as the holiday season ramps up and how uncertainty could linger even as federal operations resume.

Let’s start with the big picture: What is an “economic data blackout,” and what happens when it lifts?

The government normally collects key economic numbers—like jobs and prices—by surveying households, businesses and stores. A shutdown can pause these surveys, delaying official reports on employment and consumer prices. When we don’t have those numbers, either we’re in a complete blackout, or we try to use substitutes for the government data.

Online data can help, but it only covers part of the market. Private estimates, like ADP payroll reports—which track wages for about 20% of U.S. workers—fill some of the gaps, but without government data, these estimates can drift from reality, especially in sectors like government work that are heavily affected by a shutdown.

Why should everyday consumers care that these reports were delayed?

If you’re deciding what to buy at the grocery store, it might not matter much. But economic forecasters and regulators, like the Fed, rely on these numbers to make decisions. Businesses use them to plan investments, production and hiring. When numbers are missing, uncertainty rises. Without current data, interest rates may not reflect real economic conditions, which can affect big-ticket purchases like cars and homes.

How do tariffs factor into that uncertainty?

Tariffs on low-end consumer goods are likely raising prices. A tariff is a tax on imports and all taxes get split between buyers and sellers based on something called elasticities of demand and supply. These describe how much people and companies cut back when they face cost increases. Foreign exporters of low-end consumer goods have very little space to absorb a tax, so U.S. consumers end up paying more. Companies selling these goods here, like Walmart and its suppliers, also have very little room to absorb tariffs, so consumers are likely to bear the burden.

It’s not uniform, though. Powerful foreign exporters such as those making iPhones and semiconductors have space to absorb costs, as do U.S. sellers of these goods. Consumers probably won’t feel as much of a pinch for these goods. But the point is that we just don’t know how prices of any of these goods are changing because government statistical agencies aren’t releasing data. Proxies from private organizations help, but government data completes the picture.

With the government reopening, what does the broader picture look like for holiday spending?

It’s worth pointing out that aggregate consumer spending doesn’t ever fall dramatically, COVID-19 pandemic aside. Even in the great recession, spending dropped less than 2.5%. But small drops in aggregate mask large effects for people experiencing unemployment or financial stress, while most people go about their business. The labor market has been awful for over six months and in the first two quarters the economy was weak. We just don’t know how weak it has been since June. Those numbers haven’t been released. We have estimates, but they’re all over the place. It seems that the bottom 80% are suffering and the top earners are carrying the economy. That’s probably bad news for most retailers and companies serving the mass market.

Could continued uncertainty make consumers rely more on credit?

Consumers are already relying on credit. During the pandemic, personal savings spiked while credit card debt dropped. Now savings are lower and credit card debt is higher. People are already spending money that they don't have, which worries firms because if most of your customers are spending money they don’t have, at some point, they will probably stop.

Now that the shutdown is over, how should consumers and businesses think about the economy?

The economy right now is a mystery. It was a mystery even before the shutdown, given huge swings in imports and inventories surrounding the tariffs. Missing or delayed data makes it hard to know how labor markets, gross domestic product growth, and consumer spending are holding up now. Add in factors like tariffs, which may soon be (temporarily) banned by the Supreme Court, and it becomes even harder for businesses and consumers to gauge what’s really happening.

As the government starts coming back online, what’s the most important data to be watching?

I’ll compare ADP’s labor numbers to the government’s first post-shutdown report. I’ll also watch GDP, but more importantly its components: consumer spending, firm investment, and growth from sectors like data centers. Even if the headline GDP number looks strong if consumer spending is solid but labor markets weak, that’s a recipe for slower growth ahead. If a lot of GDP comes from data center construction, that’s confidence in a very narrow industry holding up the economy. Broader-based labor market and consumer strength would be a healthier sign.

Even as the shutdown ends, shoppers and businesses face a murky economic picture heading into the holidays.

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Labubu 'blind box' trend reveals why surprise and scarcity keep us shopping

What motivated you to buy a Labubu?

What makes the blind-box experience so appealing?

What role does scarcity play in shaping consumers’ choices and spending on collectibles like Labubu?

In what ways do influencers, celebrities and social media boost interest in collectibles like Labubu?

What makes Labubu more than just a toy to its buyers?

When collectibles go viral, how long do these crazes usually last?

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Government reopens but economic uncertainty lingers: What consumers should know

Let’s start with the big picture: What is an “economic data blackout,” and what happens when it lifts?

Why should everyday consumers care that these reports were delayed?

How do tariffs factor into that uncertainty?

With the government reopening, what does the broader picture look like for holiday spending?

Could continued uncertainty make consumers rely more on credit?

Now that the shutdown is over, how should consumers and businesses think about the economy?

As the government starts coming back online, what’s the most important data to be watching?

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