Northern Colorado Leads MSA Job Growth

The Northern Colorado Metropolitan Statistical Areas (MSAs) are leading job growth for Colorado. Through five months of 2014, the leaders in MSA job growth were Greeley and Fort Collins.

The MSA job growth rates for five months follow:

  • Greeley 5.4%
  • Fort Collins 3.5%
  • Boulder 3.1%
  • Denver 2.8%
  • Pueblo 2.1%
  • Grand Junction 1.4%
  • Colorado Springs 1.2%

The rate of growth for the state was 2.9%.

The MSA job growth for five months follows:

  • Denver 35,800
  • Boulder 5,200
  • Fort Collins 4,900
  • Greeley 4,700
  • Colorado Springs 2,900
  • Pueblo 1,200
  • Grand Junction 800.

For the first five months of 2014 Colorado added about 67,100 workers compared to the same period in 2013. About 11,600 were outside the seven MSAs.

As expected Denver added the greatest number of jobs. The percentage of MSA job growth follows:

  • Denver 64.5%
  • Boulder 9.4%
  • Fort Collins 8.8%
  • Greeley 8.5%
  • Colorado Springs 5.2%
  • Pueblo 2.2%
  • Grand Junction 1.4%

Combined, the Northern Colorado MSAs added 17.3% of all jobs. The state’s seven MSAs accounted for about 83% of total job growth in the state for this period.

Though most of the state’s land mass is rural, most of the job growth is in the seven MSAs.

MSA Job Growth for Colorado

 

Grand Junction and Greeley – Boom and Bust

Energy is a mixed blessing (boom and bust) to local economies in Colorado, specifically Grand Junction and Greeley.

Since 1991, the Grand Junction MSA has added jobs at an annualized rate of 2.4% compared to 2.0% for the state.

Mesa County enjoyed strong growth in the first part of the 2000s because of the oil and gas industry. Unfortunately, it also experienced a bust in 2009.

The Grand Junction MSA employment has not returned to the peak level of 2008.

 boom and bust

 

Since 1991, the Greeley MSA has added jobs at an annualized rate of 2.9% compared to 2.0% for the state.

Similar to Mesa County it experienced a boom as a result of exploration in the Niobrara gas fields.  As well, the local economy benefitted from a Vestas turbine factory. While the county experienced a downturn in conjunction with the Great Recession, Greeley MSA employment returned to the peak level of 2008 in January 2012.

Despite the boom and bust cycles, both communities have experienced a stronger rate of growth over the past two decades than the state.
boom and bust

 

©Copyright 2011 by CBER.