Quarterly Economic Update Archives
The September 2023 Regional Economic Update presents the most recently-released jobs and wages data published by the U.S. Bureau of Economic Analysis, Quarterly Census of Employment and Wages (QCEW) for Q1 2023 for the NWCCOG Region which includes the six counties of Eagle, Grand, Jackson, Pitkin, Routt, and Summit. The accommodations & food services and arts, entertainment, recreation sectors account for the most jobs in the region (26% and 12% respectively) as the region’s main economic driver is tourism. Retail trade, which is a supporting industry to tourism, is the region’s third largest sector, accounting for 11% of all jobs. The healthcare (7%), construction (7%) and public administration (6%) are the next largest sectors.
Q1 2023 Regional Snapshot:
- Total Jobs: 106,204 / Yr. over Yr. Chg.: +4,252 (+4.2%)
- Total Establishments: 12,345 / Yr. over Yr. Chg.: +685
- Labor Force: 96,191 (Aug 2023); Yr. over Yr. chg.: +3,671 (+4.0%)
- Regional UE Rate (Aug 2023) 2.7% / Yr. over Yr. Chg.: +0.5%
Pitkin County reports the highest annual wage in the region($73,736) and Jackson County reports the lowest ($42,900). All counties in the region report annual wages lower than the State ($81,068). Pitkin, Eagle, and Routt all report annual wages higher than that of the U.S. ($57,200). Summit, Grand, and Jackson all report annual wages below both the State and the U.S.
Region Annual Average Wage (Q1 2023)