Data Center

NWCCOG Regional Economic Update: June 2024

The June 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 Q4 2023 for the NWCCOG Region which includes the six counties of Eagle, Grand, Jackson, Pitkin, Routt and Summit.

Jobs & Wages

Total jobs for the region reported at 100,281. This is a 3.9% increase year over year. The accommodations & food services industry accounts for the most jobs in the region, accounting for 23% of all jobs. 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.

Pitkin County reports the highest annual wage in the region for Q4 2023, reported at $84,396, while Grand County reports the lowest at $50,648.

Labor Force & Unemployment

The region reports total labor force for April 2024 at 95,430. This is up from April 2023: +3,241/+3.5%.  The region’s unemployment rate increased five-tenths of a percentage point in April 2024 to 2.7 percent compared to the April 2023 rate of 2.2 percent. The region reports an unemployment rate lower than that of the State of Colorado (3.7%) and the U.S. (3.9%).