The September 2024 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 2024 for the NWCCOG Region which includes the six counties of Eagle, Grand, Jackson, Pitkin, Routt and Summit.

Jobs & Wages

Total jobs for the region are reported at 107,422. This is a 1.1% increase year over year, and 12.7% increase over the last decade. The accommodations & food services industry accounts for the most jobs in the region, accounting for 26% of all jobs. Arts, entertainment, and recreation is the next largest sector accounting for 12% of all jobs, followed by retail trade which accounts for 10% of all jobs.  The region’s main economic driver is tourism, and these top three sectors all support that key industry. The healthcare industry (8%) and construction industry (7%) are the next largest sectors.

Pitkin County reports the highest annual wage in the region for Q1 2024, reported at $75,556, while Jackson County reports the lowest at $45,448. All six counties in the region have an annual wage lower than that of the State of Colorado ($83,876); three (Grand, Jackson, Summit) report a lower wage than the U.S ($59,228)..

Labor Force & Unemployment

The region reports total labor force for July 2024 at 98,237. This is up +3,152 or +3.3% year over year. The region’s unemployment rate is reported at 3.2%, up six-tenths of a percentage point year over year. The region reports an unemployment rate lower than that of the State of Colorado (3.9%) and the U.S. (4.3%).