Employment & Average Wages by Industry
Date posted: 09/16/2008
Quick Data Links
- Employment in Larimer County by Industrial Sector (NAICS), 2007
- Employment in Larimer County by Industrial Sector (NAICS), 2003 - 2007
- Industrial Sectors with the Highest & Lowest Average Yearly Salaries (NAICS)
- Industrial Sectors with the Highest Number of Employees (NAICS)
- Industrial Sectors with the Lowest Number of Employees (NAICS)
- Persons Employed in Larimer County by Industrial Sector (SIC) - 1985-2000
- Average Yearly Salaries in Larimer County by Industrial Sector (SIC) - 1985-2000
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 2002 NAICS Codes and Titles.
Employment
Employment is defined as the number of workers covered by unemployment insurance who earned wages during the pay period that includes the 12th of the month. Workers on the payroll of more than one firm during the census period are included in each firm's count (United States Census Bureau). In other words, workers may be counted more than once.
What this chart shows: Sector Employment as a Percentage of Total Employment in Larimer County (NAICS), 2007
Data Source: Colorado Department of Labor & Employment, Labor Market Information
Data Source: Colorado Department of Labor & Employment, Labor Market Information
What these data tell us:
The most recent Quarterly Census of Employment and Wages lists Public Administration (Government), Retail Trade, Accommodation & Food Services, and Health Care & Social Assistance as the industrial sectors with the highest employment numbers in Larimer County for 2007. The Retail Trade and Accommodation & Food Services sectors employ more people and pay lower average yearly salaries than the other sectors. From 2003 to 2007, Manufacturing employment, as a percentage of total employment, decreased by 26%, the largest decrease of all of the industrial sectors. The Manufacturing sector is one of the highest paying sectors at an annual average salary of $67,392 in 2007.What this chart shows: Industrial Sectors with the Highest and Lowest Average Yearly Salaries in Larimer County (NAICS), 2003- 2007
Data Source: Colorado Department of Labor & Employment, Labor Market Information
What these data tell us:
Analysis of the five-year period from 2003 to 2007 revealed that the Manufacturing sector paid the highest average annual wages for four out of six years. In terms of dollars gained, the Professional & Technical Services sector recorded a 49% increase ($22,620) in the average annual income from 2003 to 2007. The Accommodations & Food Service sector, with one of the highest employee counts, paid the lowest average annual wage in 2007. Workers who receive tips are paid a lower minimum wage (see Additional Information). In 2007, there were two sectors that had a decrease in average annual wages over the previous year: Agriculture, which decreased by $468 (-1.7%) and Mining, which decreased by $104 (-.2%).
Data Source: Colorado Department of Labor & Employment, Labor Market Information
What these data tell us:
From 2003 to 2007, Public Administration (which includes the Forest Service, National Park Service, courts, police and fire-fighters for example) employed the greatest number of people in Larimer County. This category increased by 1,292 during that time, to a total of 23,020 employees in 2007. For the fifth year in a row, more people were employed in the Retail Trade sector than in the Manufacturing sector.
During this five-year period, the Manufacturing sector declined by 2,860 jobs (-19%). This decline was due to fall in Computer and Electronic Product Manufacturing (a sub-sector of Manufacturing) employment, partially offset by employment increases in a few other sub-sectors like Machinery Manufacturing. Computer and Electronic Product Manufacturing employment decreased every year from 2003 to 2007, and there was a total loss of 3,539 jobs (-46%) in this sub-sector during the five-year period.
Data Source: Colorado Department of Labor & Employment, Labor Market Information
What these data tell us:
The same five industrial sectors had the lowest employment numbers from 2003 through 2007. In 2007, one of the five sectors (Management of Companies & Enterprises sector) experienced a decrease of 29 employees (-5.1%)* over the previous year. In 2003, there were 165 employees and the sector grew to 536 employees in 2007. The number of businesses in the Management of Companies & Enterprises sector increased from 55 in 2003 to 75 in 2007.* Percentage declines can be misleading when applied to smaller employment numbers. Small decreases in actual employment numbers may translate into large percentage declines.
Additional Information:
What is the minimum wage for workers who receive tips?
The Fair Labor Standards Act (FLSA) sets a federal minimum wage of $6.55 per hour, as of July 24, 2008, 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, 2008 the Colorado minimum wage was set to $7.02 per hour. The employer of a tipped employee in Colorado is required to pay $4.00 an hour. See the Minimum Wage Fact Sheet 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)
On Compass -
- Income by Racial Classification
- Median Family Income
- Population Size & Growth
- Self-Sufficient Wages
- Unemployment Rate
- Work Commute
Outside Compass -
- Colorado Department of Labor & Employment, Occupational Wages - Labor Market Information, Workforce Research and Analysis
- Colorado Employment and Wages ES202 Main Menu: Larimer County
- Colorado Labor and Industry Focus
- The Self-Sufficiency Standard for Colorado 2008: A Family Needs Budget [pdf] This updated report calculates the amount of money Larimer County families need to earn to make ends meet without public or private assistance.
- United States Census Bureau - the development of NAICS.
- List of NAICS Industries and definitions.
- United States Department of Labor - Information about minimum wage laws.
Data Tables:
Larimer County Employment by Industrial Sector, 2003 - 2007
|
NAICS Sectors (code) |
2003 |
2004 |
2005 |
2006 |
2007 |
|
13,190 |
13,486 |
13,716 |
14,179 |
14,358 |
|
|
6,923 |
7,186 |
6,945 |
7,225 |
7,241 |
|
|
707 |
736 |
776 |
635 |
722 |
|
|
1,743 |
1,785 |
1,762 |
1,808 |
1,966 |
|
|
9,416 |
9,477 |
10,085 |
10,394 |
10,326 |
|
|
958 |
1,013 |
1,018 |
1,002 |
1,069 |
|
|
3,190 |
3,249 |
3,239 |
3,432 |
3,384 |
|
|
11,886 |
12,343 |
12,616 |
13,089 |
14,381 |
|
|
2,447 |
2,418 |
2,438 |
2,526 |
2,541 |
|
|
165 |
281 |
544 |
565 |
536 |
|
|
14,838 |
14,620 |
12,448 |
11,904 |
11,978 |
|
|
319 |
336 |
383 |
398 |
404 |
|
|
3,044 |
3,201 |
3,143 |
3,311 |
3,386 |
|
|
6,246 |
6,747 |
9,373 |
9,619 |
9,863 |
|
|
21,728 |
22,001 |
22,345 |
22,553 |
23,020 |
|
|
2,047 |
2,027 |
2,142 |
2,237 |
2,280 |
|
|
15,922 |
15,947 |
16,430 |
16,913 |
17,290 |
|
|
2,234 |
2,343 |
2,381 |
2,240 |
2,228 |
|
|
216 |
221 |
225 |
238 |
243 |
|
|
2,824 |
2,994 |
2,974 |
3,059 |
3,029 |
See pie chart, line chart
Larimer County Average Yearly Salaries by Industrial Sector, 2003 - 2007
|
NAICS Sectors (code) |
2003 |
2004 |
2005 |
2006 |
2007 |
|
$11,804 |
$12,012 |
$12,376 |
$12,376 |
$13,572 |
|
|
$25,480 |
$28,652 |
$27,716 |
$28,756 |
$29,432 |
|
|
$24,544 |
$25,376 |
$25,480 |
$27,612 |
$27,144 |
|
|
$13,000 |
$12,688 |
$13,156 |
$15,756 |
$20,332 |
|
|
$36,764 |
$37,024 |
$39,000 |
$40,196 |
$41,964 |
|
|
$22,308 |
$20,800 |
$20,228 |
$21,684 |
$22,412 |
|
|
$43,940 |
$43,784 |
$44,252 |
$44,720 |
$47,788 |
|
|
$34,372 |
$35,672 |
$37,076 |
$38,428 |
$40,716 |
|
|
$39,728 |
$41,600 |
$43,680 |
$46,852 |
$49,660 |
|
|
$47,892 |
$51,376 |
$52,364 |
$61,672 |
$64,376 |
|
|
$64,636 |
$64,220 |
$61,932 |
$64,948 |
$67,392 |
|
|
$37,232 |
$42,640 |
$40,300 |
$44,460 |
$44,356 |
|
|
$23,504 |
$24,388 |
$25,376 |
$26,780 |
$27,456 |
|
|
$45,968 |
$46,124 |
$60,424 |
$65,728 |
$68,588 |
|
|
$39,208 |
$40,404 |
$41,288 |
$42,276 |
$43,004 |
|
|
$26,671 |
$28,548 |
$29,380 |
$30,836 |
$30,888 |
|
|
$22,108 |
$22,724 |
$22,984 |
$23,088 |
$23,504 |
|
|
$31,020 |
$32,136 |
$30,732 |
$31,928 |
$33,124 |
|
|
$50,187 |
$65,572 |
$54,496 |
$55,796 |
$58,708 |
|
|
$41,155 |
$42,692 |
$43,420 |
$45,760 |
$49,504 |
Five Industry Sectors with the Highest Average Yearly Salary, Larimer County, 2003- 2007
|
Industry Sectors (NAICS) |
2003 |
2004 |
2005 |
2006 |
2007 |
|
Manufacturing |
$64,636 |
$64,220 |
$61,932 |
$64,948 |
$67,392 |
|
Utilities |
$50,232 |
$65,572 |
$54,496 |
$55,796 |
$58,708 |
|
Management of Companies and Enterprises |
$47,892 |
$51,376 |
$52,364 |
$61,672 |
$64,376 |
|
Finance and Insurance |
$43,940 |
$43,784 |
$44,252 |
$47,788 |
|
|
Professional, Scientific, and Technical Services |
$45,968 |
$46,124 |
$60,424 |
$65,728 |
$68,588 |
|
Information |
$46,852 |
$49,660 |
Five Industry Sectors with the Lowest Average Yearly Salary, Larimer County, 2003- 2007
|
Industry Sectors (NAICS) |
2003 |
2004 |
2005 |
2006 |
2007 |
|
Accommodation and Food Services |
$ 11,804 |
$ 12,012 |
$12,376 |
$12,376 |
$13,572 |
|
Arts, Entertainment, and Recreation |
$ 13,000 |
$ 12,688 |
$13,156 |
$15,756 |
$15,652 |
|
Retail Trade |
$ 22,100 |
$ 22,724 |
$22,984 |
$23,088 |
$23,504 |
|
Agriculture, Forestry, Fishing, and Hunting |
$27,144 |
||||
|
Educational Services |
$ 22,308 |
$ 20,800 |
$20,288 |
$21,684 |
$22,412 |
|
Other Services (except Public Administration) |
$ 23,504 |
$ 24,388 |
$25,376 |
$26,780 |
$27,456 |
Five Industry Sectors with the Highest Number of Employees, Larimer County, 2003- 2007
|
Industry Sectors (NAICS) |
2003 |
2004 |
2005 |
2006 |
2007 |
|
Public Administration (Government ) |
21,728 |
22,001 |
22,345 |
22,553 |
23,020 |
|
Manufacturing |
14,838 |
14,620 |
12,448 |
11,904 |
11,978 |
|
Retail Trade |
15,922 |
15,947 |
16,430 |
16,913 |
17,290 |
|
Accommodation and Food Services |
13,187 |
13,486 |
13,716 |
14,179 |
14,358 |
|
Health Care and Social Assistance |
11,886 |
12,343 |
12,616 |
13,089 |
14,381 |
Five Industry Sectors with the Lowest Number of Employees, Larimer County, 2003- 2007
|
Industry Sectors (NAICS) |
2003 |
2004 |
2005 |
2006 |
2007 |
|
Management of Companies and Enterprises |
165 |
281 |
544 |
565 |
536 |
|
Utilities |
217 |
221 |
225 |
238 |
243 |
|
Mining |
319 |
336 |
383 |
398 |
404 |
|
Agriculture, Forestry, Fishing, and Hunting |
707 |
736 |
776 |
635 |
722 |
|
Educational Services |
959 |
1,013 |
1,018 |
1,002 |
1,069 |