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Colorado has a diversified employment base across a broad range of industry sectors. A young, well-educated, skilled and growing workforce makes a critical contribution to the vitality of the Colorado economy. World-class educational programs and research facilities and a state commitment to supporting customized job training programs assure that Colorado's workforce skills will remain cutting edge, allowing employers to compete in a global economy.
Colorado's population of approximately 4.7 million people includes a robust workforce of more than 2.6 million. Colorado's labor force participation rate is significantly higher than that of the U.S. as a whole, recently ranking 6th highest participation rate in the country. Colorado also has a higher-then-average participation rate for women, which at 64.4% is nearly five percentage points higher than the national average. Colorado workers are also exceptionally productive, consistently ranking in the top ten for per capita gross state product.
Did You Know?
Our workforce is young and active, with impressive annual in-migration of young professionals from around the country coming to Colorado for its exceptional quality of life and active lifestyle.
Our workforce is well-educated, with the 2nd largest percentage of adults with at least a bachelors degree in the entire nation, and the 4th largest number of graduate students in scientific and engineering disciplines.
Our workforce is skilled, with the greatest concentration of high-tech workers in the United States and the 3rd largest number of scientists and engineers as a percentage of total workforce.
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Forbes Magazine deemed Colorado to have one of the two best labor pools in the country. Our workforce is driving our economy, contributing to nation leading short-term and long-term job growth prospects, as documented by the Corporation for Enterprise Development.
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Educational Attainment
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High School Graduates
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College Graduates
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Colorado
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88.7%
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35.5%
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U.S.
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84.2%
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27.2%
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For more information on the Colorado education system as it pertains to business and labor, please see 'Education' in the left navigation.
World-Class People
Colorado has a highly educated, technically savvy workforce, contributing to its strong position in the advanced technology and service industries of the future. Colorado has a strong base of growing firms in high-growth, high-tech fields. Most of the net new jobs created are in small and medium-sized firms.
- Colorado's economy added 47,000 new jobs in 2005, an increase of 2.2% over 2004.
- Colorado is projected to add another 47,000 new jobs in 2006, a 2.1% increase.
- In both 2004 and 2005, Colorado job growth outpaced national job growth rates.
- Colorado has the highest concentration of high-tech workers, with 89 out of every 1,000 private sector workers in a high-tech job, according to AeA's 'Cyberstates' 2006 edition.
Wage Rates
Colorado's 2005 annual average wage rate for all industry sectors was $41,600. Colorado ranked 11th in the US for average wages, according to the 2006 'Report Card for the states.'
Wage rates by occupation and by Labor Market Area, including entry level wage rates, mean and median wage rates, can be found on the Labor Market Information website.
Health Care Costs
With the thinnest workforce in the country, the nation's lowest obesity rate, and a highly active lifestyle enjoyed by its residents and visitors, Colorado is an exceptionally healthy state. The health-consciousness for which Coloradans are renowned is reflected in some of the lowest per-employee health care costs in the country. According to Hewitt Associates, LLC, in 2006 per-employee health care costs in Metro Denver averaged $7,482. This total is more than $850 per employee lower than the national average and ranked in the top 5 among all major metropolitan areas.
Colorado's Unemployment Rate
Colorado's unemployment rate averaged 5% in 2005, just below the US average of 5.1%. This slight advantage is expected to hold in 2006 as well, with Colorado's unemployment rate averaging 4.5% for the year.
The following table indicates the annual average unemployment rates of representative labor markets throughout the state since 2000. Additional county-specific labor market information is available from the Labor Market Information Section of the Colorado Department of Labor and Employment.
COLORADO UNEMPLOYMENT RATE
(Percent of Labor Force)
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Labor Market
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2000
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2001
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2002
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2003
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2004
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2005
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U.S. Average
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4.0
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4.8
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5.8
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6.0
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5.5
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5.1
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Colorado
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2.7
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3.7
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5.7
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6.2
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5.5
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5.0
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Source: Colorado Department of Labor and Employment, Labor Market Information Section, 2006.
Job vacancy surveys by Labor Market Area are available on the Labor Market Information website.
Employment Base
The following table is a breakdown of Colorado's 2005 average annual employment by major industry sector and sub-sector, based on North American Industry Classification (NAICS) codes:
2005 Colorado Wage and Salary Employment
(Annual Average)
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NAICS Code
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Sector
Sub-Sector
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Number
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Percent
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11
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Agriculture, Forestry & Fishing
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14,963
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0.7%
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Crop Production
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6,806
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Animal Production
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5,551
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Other
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2,606
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21
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Mining
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17,007
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0.8%
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Mining, Except Oil & Gas
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5,265
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Oil & Gas Extraction
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4,703
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Mining Support Activities
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7,038
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22
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Utilities
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7,949
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0.4%
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23
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Construction
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160,102
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7.3%
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Building Construction
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31,257
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Heavy & Civil Engineering Const
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20,374
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Special Trade Contractors
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108,471
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31-33
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Manufacturing
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150,586
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6.9%
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Durable Goods
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100,532
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Non-Durable Goods
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50,054
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42
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Wholesale Trade
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93,781
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4.3%
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Durable Goods
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52,653
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Non-Durable Goods & E-markets
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41,128
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44-45
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Retail Trade
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246,048
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11.2%
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Motor Vehicle Parts & Dealers
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32,047
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General Merchandise
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46,694
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Food Stores
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43,999
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Other Retail
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123,308
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48-49
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Transportation & Warehousing
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61,103
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2.8%
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Air Transportation
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13,560
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Truck Transportation
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17,715
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Other Transportation & Warehousing
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29,828
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51
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Information
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77,438
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3.5%
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Publishing, except Internet
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28,914
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Telecommunications
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29,977
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Other (Broadcasting, Motion Pictures,
Internet service providers, etc.)
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18,547
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52-53
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Finance, Insurance & Real Estate
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153,677
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7.0%
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Banking/Financial Services
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69,576
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Insurance
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37,247
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Real Estate
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46,854
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54-81
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Services
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860,665
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39.3%
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Accommodation & Food Services
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214,191
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Professional & Technical Services
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155,997
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Health Care & Social Assistance
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197,134
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Administrative & Waste Services
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135,276
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Arts, Entertainment & Recreation
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43,212
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Educational & Other Services
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114,855
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92
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Government
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345,972
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15.8%
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Federal
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52,649
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State*
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68,236
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Local*
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225,087
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Total Wage & Salary Employment
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2,189,553
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100%
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*Includes public education.
County level employment and wage data can be found here. Source: Colorado Department of Labor and Employment, 2006
Colorado's Labor Climate
Colorado has a unique, modified right to work law. If an employer is represented by a union under the National Labor Relations Act, at least 75% of the employees must vote in favor of an all-union agreement. Without the 75% approval, there can be no all-union agreement in the collective bargaining agreement, just as in a right to work state. Colorado workers are far below the national average in union membership.
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Union Membership, 2005
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Colorado
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8.3%
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U.S.
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12.5%
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Colorado Workforce Centers
The Colorado Department of Labor and Employment, through its Colorado Workforce Centers, offers a variety of programs and services for individual jobseekers in Colorado. For more information on Colorado Workforce Centers, visit their website at: www.coworkforce.com
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