A mantra common to economic developers, high school counselors, and politicians is that “it all starts with a job”. Jobs come in all shapes, sizes, and pay rates, as evidenced by the employment and occupation data produced by Colorado Office of Labor Market Information (LMI).
For example, the average entry level pay rate for Coloradans is $9.98 per hour while the average rate for experienced workers is $28.18. On average, hourly wage earners receive $22.11 per hour.
On the salary side of the equation, average annual entry level wages are $20,767 with experienced workers receiving $58,606. Average wages across all sectors are $45,993 per year.
The most recognized LMI data is the employment and unemployment numbers. In addition; the group also tracks occupational data, such as types of jobs, short-term and long-term growth rate, areas of the state where jobs are most prevalent, and compensation information.
A simple example of some of the data can be found by looking at the seven categories of occupations in the legal profession. There are approximately:
• 14,298 Lawyers
• 4,486 Paralegals and Legal Assistants
• 4,006 Compliance Officers, Except Agriculture, Construct
• 3,965 Claims Adjusters, Examiners, and Investigators
• 1,782 Detectives and Criminal Investigators
• 627 Judges, Magistrate Judges, and Magistrates
• 298 Law Clerks
A similar breakdown is available for each of the key industries that comprise the Colorado economy. These data can be used by community colleges, workforce centers, and private educators to establish training and education programs. Parents and guidance counselors may use them as a tool for guiding their children into certain occupations. Employers may evaluate the data to understand pay ranges or areas where they may expect labor shortages.
©Copyright 2011 by CBER.