The December 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 Q2 2023 for the NWCCOG Region which includes the six counties of Eagle, Grand, Jackson, Pitkin, Routt, and Summit.

Jobs

The accommodations & food services industry accounts for the most jobs in the region, with almost a quarter of all jobs in the region in this sector (23%). Retail trade is the next largest sector accounting for 11% of all jobs, followed by arts, entertainment & recreation (10% of all jobs). The region’s main economic driver is tourism, and these top three sectors all support that sector. The construction (9%), healthcare (8%) and public administration (7%) all contribute significantly to the regional economy as well.

Wages

Pitkin County reports the highest annual wage in the region($70,720) and Jackson County reports the lowest ($41,496). All counties in the region report annual wages lower than the State ($74,100). Four counties in the region report wages below both the State and the U.S.: Routt ($56,368), Summit ($54,340), Grand ($50,492), and Jackson ($41,496). All counties except Pitkin reported wage gains year over year: Eagle (+9.0%); Grand (+6.0%); Jackson (+1.1%); Pitkin (-3.5%); Routt (+2.2%); Summit (+4.4%).

Labor Force

The region's labor force for October 2023 is reported at 91,177 total for all six counties, which is a 2.7% increase year over year. Regional unemployment rate is 2.9%, which is lower than both Colorado (3.3%) and the U.S. (3.9%).

Read full report here.