Colorado added 6,200 net employees during the 10-year period (2001 to 2010). This is in sharp contrast to the previous 10 years (1991 to 2000) when the state gained almost 700,000 workers.
During the go-go 90s, payrolls in the Denver MSA increased by more than 355,000 followed by gains of about 95,000 in rural Colorado. Almost 93,000 jobs were added in El Paso County (Colorado Springs MSA) and another 57,000 in Boulder County (Boulder MSA).
At the risk of being repetitious… the state added only 6,200 workers between 2001 and 2010.
During this period the Denver MSA lost 20,000 workers, the Boulder MSA shed 4,900, and Colorado Springs payrolls decreased by 3,600. Employment in the state’s top three MSAs declined by 28,500 workers. The drop-off in Denver and Boulder began in 2002 and continued throughout the decade, whereas it started in 2007 for Colorado Springs. This was around the time Intel and other high-tech and semiconductor companies left the area.
At the risk of being repetitious… rural Colorado and the smaller MSAs were the only areas to add workers during the decade. Given the weakness in Colorado’s three major metro areas, it seems why the state is struggling to add jobs at a sustained level in 2011.
©Copyright 2011 by CBER.