Colorado is outpacing the U.S. in the rate of job growth. The mix of jobs added by the top sectors is different for Colorado than the U.S. In addition, many of the jobs being added in the state pay lower than average wages.
Through seven months, the sectors that contributed the greatest number of jobs (top five) account for 70.4% of jobs created in Colorado.
- Accommodations and Food Services 19.8%
- Health Care 15.9%
- Professional, Scientific, and Technical Services 12.0%
- Construction 11.9%
- Retail Trade 10.8%.
Through seven months, these same five sectors contributed only 56.4% of the jobs created in the U.S.
- Accommodations and Food Services 14.1%
- Health Care 12.6%
- Professional, Scientific, and Technical Services 9.1%
- Construction 7.7%
- Retail Trade 12.8%.
Colorado’s rate of growth for these sectors during the first seven months is faster than the U.S.
- Accommodations and Food Services, 5.5% vs. 2.8%.
- Health Care, 4.3% vs. 1.7%.
- Professional, Scientific, and Technical Services, 4.3% vs. 2.7%.
- Construction 6.5% vs. 3.2%.
- Retail Trade 3.0% vs. 2.0%.
For the first seven months, the cumulative total of the Colorado sectors where primary jobs were categorized (manufacturing, information, PST) expanded at a faster rate than the U.S, 2.7% vs. 1.3%.
The following are the average annual private sector wages for the sectors that are adding the most jobs.
- Accommodations and Food Services $18,808.
- Health Care, $45,905.
- Professional, Scientific, and Technical Services, $84,842.
- Construction, $51,064.
- Retail Trade $28,159.
Many of the jobs being added in Colorado are low paying jobs.
It is great that the Colorado economy is adding jobs. Time will tell whether the mix of jobs being added will be to Colorado’s benefit or detriment.