Index: Economy / Subcategory: Business

Employment & Average Wages by Industry

Date updated: 06/19/2013

SIC and NAICS Classification Systems

The North American Industry Classification System (NAICS) replaced the United States Standard Industrial Classification (SIC) system in 2001. There were 350 new industries separately recognized for the first time, and 10 new sectors added for clearer definition: businesses that use similar production processes are grouped together. NAICS was developed jointly by the United States, Canada, and Mexico to provide new comparability in statistics about business activity across North America (United States Census Bureau). For the full industry list and definitions, see 2012 NAICS Codes and Titles.

Employment

There are multiple sources of data on employment, although they differ in methodology. For this report, two main sources were used: the U.S. Department of Commerce, Bureau of Economic Analysis (BEA) and the Colorado Department of Labor & Employment, Quarterly Colorado Employment and Wages (QCEW) report.

The information provided by the BEA is a better source for looking at employment trends, as well as proprietors employment. Proprietors employment is often over reported by the BEA, so caution should be taken in using this data.

The data collected by the Colorado Department of Labor & Employment, on the other hand, consists of the number of workers covered by unemployment insurance who earned wages during the pay period that includes the 12th of the month. This information is compiled quarterly and reported in the Colorado Employment and Wages report (QCEW).

What this chart shows: Estimated Total Jobs by Industrial Sector (NAICS) in Larimer County, 2011

Data Source: U.S. Department of Commerce, Bureau of Economic Analysis (CA25N Report)

See data table

What the above data tell us:

Larimer County had an estimated 191,480 jobs in 2011, 2,357 more than the previous year. The largest portion were in Retail Trade (21,254 or 11.1%), Health Care and Social Assistance (20,187 or 10.5%), Professional and Technical Services (16,947 or 8.9 %), and Accommodation and Food Services (15,826 or 8.3%).

What this chart shows: Average Weekly Wages by Industrial Sector (NAICS) in Larimer County, 2012

Data Source: Colorado Department of Labor & Employment, QCEW Report [pdf]

See data table

What the above data tell us:

The 2012 Annual Colorado QCEW Wage and Employment Tables [pdf] lists Management of Companies & Enterprises, Federal Government, Manufacturing, and Professional & Technical Services as the industrial sectors with the highest average weekly wage in Larimer County for 2012. The Retail Trade sector employs more people than all but the Health Care sector and pays lower average salaries than the other sectors. The Management of Companies & Enterprises sector offered the highest paid jobs in Larimer County in 2012, with an average weekly wage of $2,166, but employed only 623 people.

What this chart shows: Wage & Salary vs. Proprietors Employment in Larimer County, 2002-2011

Data Source: U.S. Department of Commerce, Bureau of Economic Analysis (CA25N Report)

See data table

What the above data tell us:

In 2002, 23.1% of employment in Larimer County was due to proprietors employment. By 2011, that percentage increased to 26.9%, an increase of 16.5%. Overall, total employment in Larimer County has increased by 12.2% between 2002 and 2011.

What this chart shows: Selected Sector Employment as Percentage of Total Employment in Larimer County, 2002-2011

Data Source: U.S. Department of Commerce, Bureau of Economic Analysis (CA25N Report)

See data table

What the above data tell us:

Since 2002, Retail Trade has employed the largest percentage of employees (11.1% to 12.1%) in Larimer County. In 2011, the Health Care & Social Assistance sector employed 10.5% or 20,187 and was the second fastest growing segment in the County (42.5% since 2002). Three of the seven sectors shown above have lost percentage points since 2002 - Manufacturing (3.5), Construction (2.6), Retail Trade (0.9). In addition, three of the seven sectors remained flat over the last 10 years (Accommodation & Food Services, Local Government & Federal Government). Only the Health Care sector gained percentage points during this time (2.2). With the exception of Retail Trade, the other sectors that lost percentage points paid average weekly wages that were higher than the overall 2012 average weekly wage of $827.

What this chart shows: County of Employment for Larimer County Residents, 2011

Data Source: U.S. Census Bureau

See data table

What the above data tell us:

Nearly two-thirds (63.9%) of employed County residents work and live in Larimer County. According to the U.S. Census Bureau, 7.9% of Weld County residents commuted to Larimer County in 2011, compared to 13.3% of Larimer County residents who commuted to Weld County.

Additional Information:

What is the minimum wage for workers who receive tips?

The Fair Labor Standards Act (FLSA) sets a federal minimum wage of $7.25 per hour, effective as of July 24, 2009, for covered, nonexempt employees. An employer of a tipped employee is only required to pay $2.13 an hour in direct wages if that amount plus the tips received equals at least the federal minimum wage, the employee retains all tips and the employee customarily and regularly receives more than $30 a month in tips. If an employee's tips combined with the employer's direct wages of at least $2.13 an hour do not equal the federal minimum hourly wage, the employer must make up the difference.

Some states have minimum wage laws specific to tipped employees. When an employee is subject to both the federal and state wage laws, the employee is entitled to the provisions which provide the greater benefits. (Source: United States Department of Labor)

The Colorado Constitution requires the Colorado minimum wage to be adjusted annually for inflation. Effective January 1, 2013, the Colorado minimum wage was set to $7.78 per hour. The employer of a tipped employee in Colorado is required to pay $4.76 an hour. See the Colorado Department of Labor & Employment website for more information. (Return to text)

Quarterly Census of Employment and Wages

The Quarterly Census of Employment and Wages Program is a cooperative program involving the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor and the State Employment Security Agencies (SESAs). The QCEW program produces a comprehensive tabulation of employment and wage information for workers covered by State unemployment insurance (UI) laws and Federal workers covered by the Unemployment Compensation for Federal Employees (UCFE) program. (Quarterly Census of Employment and Wages). (Return to text)

Related Information on COMPASS -

Other Resources -

Data Tables:

Larimer County Employment by Industrial Sector (Bureau of Economic Analysis)

NAICS Sectors (code)

2003

2004

2005

2006

2007

2008

2009

2010

2011

Agriculture, Forestry, Fishing & Hunting (11)

463 531 508 529 597 605 624 595 583

Mining (21)

714 713 796 870 930 1,100 1,368 1,084 1,414

Utilities (22)

229 233 240 255 264 264 270 255 253

Construction (23)

14,349 14,806 15,737 16,040 16,005 15,007 13,291 12,018 11,695

Manufacturing (31-33)

13,677 13,476 13,495 13,049 13,256 13,169 12,037 11,933 12,113

Wholesale Trade (42)

3,472 3,756 3,788 3,900 3,883 4,009 3,791 3,725 3,811

Retail Trade (44-45)

20,644 20,939 21,724 22,245 22,672 22,413 21,437 21,174 21,254

Transportation & Warehousing (48-49)

3,085 3,298 3,412 3,217 3,213 3,057 2,905 2,938 2,923

Information (51)

3,093 3,118 3,236 3,310 3,401 3,483 3,555 3,287 3,337

Finance and Insurance (52)

6,507 6,725 6,738 6,965 7,586 7,992 8,791 9,683 9,187

Real Estate and Rental and Leasing (53)

8,290 9,188 9,798 10,214 10,984 10,978 10,899 10,517 11,056

Professional, Scientific & Technical Services (54)

14,274 15,480 16,136 16,472 17,575 16,887 16,375 16,663 16,947

Management of Companies & Enterprises (55)

195 318 589 605 576 556 515 610 744

Admin Support; Waste Mgmt & Remediation Services (56)

9,793 10,344 9,980 10,429 10,591 11,373 10,584 11,750 11,685

Educational Services (61)

2,170 2,304 2,484 2,568 2,581 2,703 2,753 2,775 2,993

Health Care and Social Assistance (62)

14,766 15,321 15,530 16,073 17,614 18,342 18,931 19,552 20,187

Arts, Entertainment & Recreation (71)

4,032 4,295 4,404 4,561 4,941 5,099 5,264 5,078 5,077

Accommodation & Food Services (72)

13,980 14,302 14,590 15,110 15,298 15,383 15,162 15,194 15,826

Other Services (except Public Administration) (81)

9,044 9,299 9,408 9,459 9,709 9,764 9,602 9,464 9,635

Government - Federal (92)

2,478 2,485 2,467 2,449 2,437 2,463 2,514 2,543 2,594

Government - State (92)

11,127 10,957 11,284 11,258 11,733 11,445 11,121 11,756 11,816

Government - Local (92)

11,968 12,265 12,548 12,700 12,847 13,279 13,603 13,576 13,416

See chart

Larimer County Average Weekly Wages by Industrial Sector, 2012 (QCEW)

NAICS Sectors (code)

Average Weekly Wage

Agriculture, Forestry, Fishing & Hunting (11)

$548

Mining (21)

$976

Utilities (22)

$1,318

Construction (23)

$932

Manufacturing (31-33)

$1,447

Wholesale Trade (42)

$1,163

Retail Trade (44-45)

$474

Transportation & Warehousing (48-49)

$733

Information (51)

$1,041

Finance and Insurance (52)

$1,135

Real Estate and Rental and Leasing (53)

$665

Professional, Scientific & Technical Services (54)

$1,346

Management of Companies & Enterprises (55)

$2,166

Admin Support; Waste Mgmt & Remediation Services (56)

$593

Educational Services (61)

$528

Health Care and Social Assistance (62)

$899

Arts, Entertainment & Recreation (71)

$328

Accommodation & Food Services (72)

$299

Other Services (except Public Administration) (81)

$571

Government - Local (92)

$787

Government - Federal (92)

$1,470

See chart

Estimated Total Number of Jobs, Larimer County (Bureau of Economic Analysis)

Industry Sectors (NAICS)

Wage & Salary Employment

Proprietors Employment

2002

131,253

39,397

2003

130,408

40,771

2004

132,773

44,083

2005

135,570

45,949

2006

138,115

46,806

2007

141,111

50,428

2008

142,674

50,567

2009

136,901

51,369

2010

137,820

51,303

2011

140,016

51,464

See chart

Sector Employment as Percentage of Total Employment in Larimer County (Bureau of Economic Analysis)

2002

2003

2004

2005

2006

#/%

#/%

#/%

#/%

#/%

Retail Trade

20,398/12.0

20,644/12.1

20,939/11.8

21,724/12.0

22,245/12.0

Manufacturing

16,842/9.9

13,677/8.0

13,476/7.6

13,495/7.4

13,049/7.1

Construction

14,787/8.7

14,349/8.4

14,806/8.4

15,737/8.7

16,040/8.7

Accommodation & Food Services

14,168/8.3

13,980/8.2

14,302/8.1

14,590/8.0

15,110/8.2

Health Care & Social Assistance

14,167/8.3

14,766/8.6

15,321/8.7

15,530/8.6

16,073/8.7

Government (Local)

11,894/7.0

11,968/7.0

12,265/6.9

12,548/6.9

12,700/6.9

Government (Federal)

2,366/1.4

2,478/1.4

2,485/1.4

2,467/1.4

2,449/1.3

Sector Employment as Percentage of Total Employment in Larimer County (cont'd)

2007

2008

2009

2010

2011

#/%

#/%

#/%

#/%

#/%

Retail Trade

22,672/11.8

22,413/11.7

21,437/11.4

21,174/11.2

21,254/11.1

Manufacturing

13,256/6.9

13,169/6.9

12,037/6.4

11,933/6.3

12,113/6.3

Construction

16,005/8.4

15,007/7.8

13,291/7.1

12,018/6.4

11,695/6.1

Accommodation & Food Services

15,298/8.0

15,383/8.0

15,162/8.1

15,194/8.0

15,826/8.3

Health Care & Social Assistance

17,614/9.2

18,342/9.5

18,931/10.1

19,552/10.3

20,187/10.5

Government (Local)

12,847/6.7

13,279/6.9

13,603/7.2

13,576/7.2

13,416/7.0

Government (Federal )

2,437/1.3

2,463/1.3

2,514/1.3

2,543/1.3

2,594/1.4

See chart

County of Employment for Larimer County Residents, 2011

County of Employment

Number

Percentage

Larimer

78,966 63.9%

Weld

9,795 7.9%

Boulder

9,039 7.3%

Denver

6,020 4.9%

Arapahoe

3,601 2.9%

Jefferson

3,411 2.8%

Adams

3,258 2.6%

El Paso

2,032 1.6%

Douglas

1,413 1.1%

Laramie County, WY

1,052 0.9%

Other

5,022 4.1%

See chart