As a Colorado based company, we are happy to see continued growth in our state. Colorado continues to add a variety of jobs in 2013 across all business sectors, following an extremely positive years in 2011 and 2012. In December, a forecast conducted by the University of Colorado Boulder’s Leeds School of Business called for a job gain of 42,100 (compared to an almost 48,000 job increase in 2012)
This wide variety of job growth is continuing to help diversify the state’s economy, which can only help stabilize the effects of any future recessions and recoveries.
The strongest sector for job growth in Colorado is projected to be the educational and health services sector. Nearly 88% of industry employment is within health care services and social assistance, with the remaining 12% related to private education. Due to the increasing demand for health care services, this sector is expected to add 7,600 jobs in 2013.
Other leading growth sectors include
- Professional and Business Services sectors
Aided by Colorado’s highly educated workforce, entrepreneur-friendly environment, increasingly diverse industry footprint and a top-notch quality of life, this sector is expected to continue growing. This sector, which is comprised of three distinct subsectors – Professional, Scientific, and Technical – is expected to add 7,400 jobs in 2013.
- Leisure and Hospitality sector
This includes performing arts, entertainment, sports, recreation, accommodations and food services used by Colorado residents, tourists and business travelers. Over 5,000 jobs are expected to be added in 2013.
- Construction Sector
With an expected continued influx of residents and an increase in number of housing starts (especially multifamily units), the construction sector is expected to grow by 6,300 jobs and produce $12.6 billion in total value of construction (up 42% since 2011).
The manufacturing sector accounted for 6.9% of employment in 2011, and 7.8 % in the private sector. Job growth is expected to be around 2% in 2013.
- Trade, Transportation and Utilities sector
The trade, transportation and utilities sector is (to date) the largest provider of jobs in Colorado, and is expected to add 5,600 jobs (1.4% job growth). This sector includes wholesale trade, retail trade, utilities, warehousing and multiple facets of transportation (air, truck, transit, rail, pipeline, etc.).
- Information Sector
The only exception to Colorado’s predicted job growth is in the information sector, which includes publishing and telecommunications. In 2013 the declines should be moderate. It is expected that this will lose 600 jobs (a great improvement over the 2,100 jobs lost in 2012), mainly due to declines in traditional publishing.
When compared to other states, Colorado is expected to be in the top 10 states for job growth in 2013.
So be Colorado-proud, and remember that Job Store Staffing is here to help both employers and job seekers find their best possible match. Contact us today, so we can start working for you.
Source: Information gathered from the Colorado Business Economic Outlook for 2013.