Colorado Q1, 2019 Employment Statistics- 207,605 employers, up 2.4% from 202,688
- 2,682,434 employees, up 2.2% from 2,625,237
- $1,231 average weekly wage, up 4.8% from $1,175
- The average weekly wage is 4.0% above the national average
- The cost of living is 5.5% above the national average
Employer & Employee Growth
In the last year, the number of employers in the state increased by 4,917, which is an increase of 2.4%. The number of employees in Colorado increased by 57,197, an increase of 2.2%. During this same period, the average weekly wage increased by $56, an increase of 4.8%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 4,928 or 2.5%. Growth in private businesses in Colorado grew slower than the national average of 3.0%. The number of employees in these businesses increased since last years' Q1, increasing by 49,504 or 2.2%. The growth in employees of private businesses in Colorado was faster than the national average of 1.7%.
The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $61 or 5.1%. Growth in average weekly wage of employees of private businesses in Colorado grew faster than the national average of 3.0%.
Leading Sectors
Businesses by Sector
The sector with the greatest number of businesses in the state is Professional services with 18.3% of the businesses in the state. The number of businesses in this sector increased by 1.7%. Construction (9.6%), which increased by 1.3% and Healthcare (8.8%), which decreased by 1.0%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Company management | 455 | 16.8% |
| Information | 173 | 4.2% |
| Real estate and rental | 467 | 3.9% |
| Educational services | 78 | 2.5% |
| Professional services | 643 | 1.7% |
| Construction | 253 | 1.3% |
| Other services | 156 | 1.0% |
| Arts and entertainment | 25 | 0.8% |
| Accommodation and food services | 70 | 0.5% |
| Transport and warehousing | 13 | 0.3% |
| Finance and insurance | 21 | 0.2% |
| Wholesale trade | -14 | -0.1% |
| Manufacturing | -16 | -0.3% |
| Mining and oil extraction | -6 | -0.4% |
| Agriculture and forestry | -7 | -0.4% |
| Waste services | -81 | -0.7% |
| Healthcare | -190 | -1.0% |
| Retail trade | -191 | -1.1% |
| Utilities | -7 | -1.7% |
Employees by Sector
The sector with the greatest number of employees in the state is Healthcare with 11.2% of the employees in the state, had an increase in employees of 1.3% in the last year. Accommodation and food services (10.4%), increased by 0.4% and Retail trade (10.1%), increased by 0.5%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Transport and warehousing | 5,382 | 7.1% |
| Professional services | 9,843 | 4.5% |
| Agriculture and forestry | 691 | 4.2% |
| Real estate and rental | 2,048 | 4.0% |
| Mining and oil extraction | 1,063 | 3.9% |
| Company management | 1,403 | 3.5% |
| Construction | 5,361 | 3.3% |
| Manufacturing | 3,355 | 2.3% |
| Other services | 1,752 | 2.2% |
| Educational services | 719 | 2.0% |
| Information | 1,249 | 1.7% |
| Wholesale trade | 1,563 | 1.5% |
| Arts and entertainment | 843 | 1.5% |
| Healthcare | 3,870 | 1.3% |
| Utilities | 83 | 1.0% |
| Waste services | 1,496 | 1.0% |
| Retail trade | 1,332 | 0.5% |
| Accommodation and food services | 1,040 | 0.4% |
| Finance and insurance | 390 | 0.3% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Company management paying $3,537per week compared with the state average of $1,254. Weekly wages in this sector rose by $237 or 7.2%. Mining and oil extraction ($2,995), rose by $133 or 4.6% and Utilities ($2,420) increased by $127 or 5.5% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Information | $249 | 11.5% |
| Waste services | $78 | 9.4% |
| Company management | $237 | 7.2% |
| Manufacturing | $94 | 6.5% |
| Wholesale trade | $111 | 6.3% |
| Utilities | $127 | 5.5% |
| Arts and entertainment | $37 | 5.4% |
| Agriculture and forestry | $37 | 5.3% |
| Accommodation and food services | $23 | 5.2% |
| Transport and warehousing | $56 | 4.9% |
| Mining and oil extraction | $133 | 4.6% |
| Real estate and rental | $42 | 3.7% |
| Other services | $29 | 3.7% |
| Professional services | $59 | 3.2% |
| Healthcare | $31 | 3.2% |
| Retail trade | $18 | 2.9% |
| Educational services | $20 | 2.6% |
| Finance and insurance | $55 | 2.4% |
| Construction | $22 | 1.9% |
Leading Industries
Businesses by Industry
Each broad sector is made up of specific industries. In Colorado. the industry with the most businesses is Restaurants and other eating places with 5.0% of the businesses in the state (with 10,412 employing 211,375 workers). The Restaurants and other eating places industry had 31 more businesses, an increase of 0.3% in the last year. Computer systems design and related services (4.5% of businesses) added 16 businesses, an increase of 0.2% and Management consulting services (3.5% of businesses) added 445 businesses, an increase of 6.6% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
| Industry | Business Chg | % Change |
|---|---|---|
| Trusts estates and agency accounts | 22 | 45.8% |
| Textile and fabric finishing mills | 2 | 40.0% |
| Food crops grown under cover | 7 | 33.3% |
| Adhesive manufacturing | 1 | 33.3% |
| Industrial gas manufacturing | 3 | 27.3% |
| Pharmaceutical and medicine manufacturing | 36 | 25.5% |
| Frozen food manufacturing | 2 | 25.0% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Management of companies and enterprises | 455 | 16.8% |
| Management consulting services | 445 | 6.6% |
| Offices of real estate agents and brokers | 338 | 6.2% |
| Private households | 196 | 4.3% |
| Data processing hosting and related services | 148 | 13.5% |
| Offices of mental health practitioners | 105 | 15.0% |
| Software publishers | 78 | 11.8% |
Employees by Industry
Computer systems design and related services (4.5% of employees) added 16 employees, an increase of 0.2% and Management consulting services (3.5% ofemployees) added 445 employees, an increase of 6.6% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Other performing arts companies | 5 | 177.8% |
| All other information services | 66 | 167.6% |
| Aquaculture | 19 | 72.5% |
| Drafting services | 155 | 64.2% |
| Mobile food services | 117 | 39.3% |
| Frozen food manufacturing | 84 | 37.9% |
| Securities and commodity exchanges | 4 | 37.1% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| General warehousing and storage | 2,655 | 35.1% |
| Computer systems design and related services | 2,198 | 3.7% |
| Management consulting services | 1,919 | 8.7% |
| Engineering services | 1,855 | 5.4% |
| Data processing hosting and related services | 1,724 | 14.9% |
| Oil and gas pipeline construction | 1,484 | 31.5% |
| Management of companies and enterprises | 1,403 | 3.5% |
Average Weekly Wage by Industry
Computer systems design and related services ($4) and Management consulting services ($3) round out the top 3 industries. Employees in the Computer systems design and related services ($4 per week) were paid $16 more per week, an increase of 0.2% and Management consulting services ($3 per week) were paid $445 more per week, an increase of 6.6% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Open-end investment funds | $8,087 | 188.3% |
| Scenic and sightseeing transportation other | $694 | 136.1% |
| Frozen food manufacturing | $344 | 59.7% |
| Pipeline transportation of natural gas | $1,664 | 53.7% |
| Fruit and vegetable markets | $165 | 48.5% |
| Other petroleum merchant wholesalers | $788 | 43.8% |
| All other support services | $605 | 39.6% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Open-end investment funds | $8,087 | 188.3% |
| Pipeline transportation of natural gas | $1,664 | 53.7% |
| Footwear merchant wholesalers | $1,663 | 35.9% |
| Natural gas extraction | $1,450 | 31.6% |
| Securities and commodity exchanges | $1,397 | 29.5% |
| Computer and peripheral equipment mfg. | $1,318 | 30.9% |
| Spectator sports | $1,244 | 13.1% |
Company Size
Colorado Businesses by Size
The solopreneur company, has the most businesses in Colorado by far. 64.3% of all businesses in the state have fewer than 5 employees. The 196,302 small businesses in the state represent 96.1% of all private businesses. The national average is 92.9%. (Small businesses have fewer than 50 employees, Solopreneurs employ fewer than 5.) Colorado added 4,928 businesses in the last year, an increase of 2.5% as compared to the national average of 3.0%.Small businesses are defined as companies with fewer than 50 employees. These small businesses added 4,700 businesses in the last year, which is an increase of 2.5% as compared to the national average of 3.1%.
Mid-sized businesses are defined as companies with between 50 and 499 employees. These mid-sized businesses added 224 businesses in the last year, which is an increase of 3.0% as compared to the national average of 1.3%.
Large businesses are defined as companies with more than 500 employees. These large businesses added 4 businesses in the last year, which is an increase of 1.5% as compared to the national average of 2.1%.
Colorado Employees by Business Size
Colorado added 148,511 employees in the last year, an increase of 7.0% as compared to the national average of 5.2%. Small businesses are defined as companies with fewer than 50 employees. These small businesses added 55,706 businesses in the last year, which is an increase of 39.6% as compared to the national average of 4.2%.Mid-sized businesses are defined as companies with between 50 and 499 employees. Mid-sized businesses added 73,540 employees in the last year, which is an increase of 9.3% as compared to the national average of 4.7%.
Large businesses are defined as companies with more than 500 employees. Large businesses added 19,265 employees in the last year, which is an increase of 7.2% as compared to the national average of 9.2%.
Colorado Avg Weekly Wages by Business Size
The smallest companies in Colorado (those with fewer than 5 employees) pay workers 18.4% more than the national average ($1,232 per week as compared to the national average of $1,005 per week). The largest companies in Colorado (those with more than 1,000 employees) pay 6.5% workers below the national average ($1,796 per week as compared to the national average of $1,913 per week).Average weekly wages in small businesses added $195 per week in the last year, which is an increase of 4.8% as compared to the national average of 3.1%. Employees of mid-sized businesses added $231 in wages per week in the last year, which is an increase of 6.0% as compared to the national average of 1.3%.
Employees of large businesses added $148 of weekly wages in the last year, which is an increase of 4.4% as compared to the national average of 2.1%.
Data Sources
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