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Reflecting on Colorado's 2017 Job Performance by Industry
Using employment growth as a metric, construction sectors dominate
Tom Binnings //March 21, 2018//
Reflecting on Colorado's 2017 Job Performance by Industry
Using employment growth as a metric, construction sectors dominate
Tom Binnings //March 21, 2018//
The following table shows job growth category totals and selected high performing industries in Colorado during 2017. Comparisons are shown with job growth in the entire U.S. (green column). These are preliminary numbers based on December employer surveys prior to March updates.
As shown, the job growth rate was higher for goods-producing industries (mining, logging, construction and manufacturing) than service producing industries. Overall, Colorado’s job growth rate was about 1.4 times the U.S. rate while for Colorado’s four highest growth industries the rate was at least 1.8 times the national rate. Especially impressive for Colorado is the growth in professional and business services (3.9 percent growth) and information (5.3 percent). While relatively small, Colorado’s information industry has reversed a long-term trend of decline. The U.S. growth rate for mining and logging (9 percent) far outpaces the same industry growth rate in Colorado which declined (-2.3 percent).
Diving a little deeper, we can see more specifics about Colorado’s job growth. The following sub-sectors all have above average growth.
Using employment growth as a metric, construction sectors dominate while the employment services sector is trying to keep all companies staffed. The arts, amusement and recreation are thriving as is the tourism industry in general. State colleges and universities showed employment growth of 6.4 percent — one of the few growing sectors in government.
