Employment & Average Wages by Industry
Date posted: 07/30/2009
Quick Data Links
- Employment in Larimer County by Industrial Sector (NAICS), 2008
- Employment in Larimer County by Industrial Sector (NAICS), 2004-08
- Industrial Sectors with the Highest & Lowest Average Yearly Salaries (NAICS), 2004-08
- Industrial Sectors with the Highest Number of Employees (NAICS), 2004-08
- Industrial Sectors with the Lowest Number of Employees (NAICS), 2004-08
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 2007 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), 2008
Data Source: Colorado Department of Labor & Employment, Labor Market Information
What this chart shows: Leading Sector Employment as a Percentage of Total Employment in Larimer County (NAICS), 2004 - 2008
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, Health Care & Social Assistance, and Accommodations & Food Services, as the industrial sectors with the highest employment numbers in Larimer County for 2008. The Retail Trade and Accommodation & Food Services sectors employ more people and pay lower average yearly salaries than the other sectors. From 2004 to 2008, Manufacturing employment, as a percentage of total employment, decreased by nearly 24%, 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 $68,588 in 2008.What this chart shows: Industrial Sectors with the Highest and Lowest Average Yearly Salaries in Larimer County (NAICS), 2004- 2008
Data Source: Colorado Department of Labor & Employment, Labor Market Information
What these data tell us:
Analysis of the five-year period from 2004 to 2008 revealed that the Professional & Technical Services sector paid the highest average annual wages for three out of five years, followed closely by the Manufacturing sector. In terms of dollars gained, the same sector recorded a 59% increase ($27,092) in the average annual income from 2004 to 2008. The Accommodations & Food Services sector, with one of the highest employee counts, paid the lowest average annual wage in 2008. Workers who receive tips are paid a lower minimum wage (see Additional Information). In 2008, there were five sectors that had a decrease in average annual wages over the previous year:- Admin Support; Waste Management & Remediation Services ($260 or -0.9%)
- Arts, Entertainment, and Recreation ($520 or -3.3%)
- Information ($1,292 or -2.6%)
- Management of Companies and Enterprises ($1,196 or -1.9%)
- Other Services (except Public Administration) ($312 or -1.1%)
What this chart shows: Industrial Sectors with the Highest Number of Employees in Larimer County (NAICS), 2004 - 2008
Data Source: Colorado Department of Labor & Employment, Labor Market Information
What these data tell us:
From 2004 to 2008, Public Administration (Government), which includes the Forest Service, National Park Service, courts, police and firefighters, employed the greatest number of people in Larimer County. This category increased by 1,642 during that time, to a total of 23,643 employees in 2008. 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 18% by 2,670 jobs. This decline was primarily due to a fall in Computer and Electronic Product Manufacturing employment (a sub-sector of Manufacturing). The decline in overall Manufacturing sector employment was partially offset by employment increases in a few sub-sectors like Electrical Equipment, Appliance and Component Manufacturing and Machinery Manufacturing. Computer and Electronic Product Manufacturing employment decreased four out of five years from 2004 to 2008, and there was a total loss of 4,210 jobs (-50%) in this sub-sector during the five-year period.
What this chart shows: Industry Sectors with the Lowest Number of Employees in Larimer County (NAICS), 2004 - 2008
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 2004 through 2008. In 2008, one of the five sectors (Management of Companies & Enterprises sector) experienced a decrease of 21 employees (-3.9%)* over the previous year. In 2004, there were 281 employees and the sector grew to 515 employees in 2008. The number of businesses in the Management of Companies & Enterprises sector increased from 44 in 2004 to 72 in 2008.* 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 $7.25 per hour, 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, 2009 the Colorado minimum wage was set to $7.28 per hour. The employer of a tipped employee in Colorado is required to pay $4.26 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 Employment Statistics, Wage Survey - May 2007
- Colorado Employment and Wages ES202 Main Menu: Larimer County
- LMI Gateway, Colorado Department of Labor & Employment
- 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, 2004 - 2008
|
NAICS Sectors (code) |
2004 |
2005 |
2006 |
2007 |
2008 |
|
13,486 |
13,716 |
14,179 |
14,358 |
14,399 |
|
|
7,186 |
6,945 |
7,225 |
7,241 |
8,016 |
|
|
736 |
776 |
635 |
722 |
775 |
|
|
1,785 |
1,762 |
1,808 |
1,966 |
2,016 |
|
|
9,477 |
10,085 |
10,394 |
10,326 |
9,574 |
|
|
1,013 |
1,018 |
1,002 |
1,069 |
1,134 |
|
|
3,249 |
3,239 |
3,432 |
3,384 |
3,186 |
|
|
12,343 |
12,616 |
13,089 |
14,381 |
15,099 |
|
|
2,418 |
2,438 |
2,526 |
2,541 |
2,674 |
|
|
281 |
544 |
565 |
536 |
515 |
|
|
14,620 |
12,448 |
11,904 |
11,978 |
11,950 |
|
|
336 |
383 |
398 |
404 |
362 |
|
|
3,201 |
3,143 |
3,311 |
3,386 |
3,529 |
|
|
6,747 |
9,373 |
9,619 |
9,863 |
9,189 |
|
|
22,001 |
22,345 |
22,553 |
23,020 |
23,643 |
|
|
2,027 |
2,142 |
2,237 |
2,280 |
2,252 |
|
|
15,947 |
16,430 |
16,913 |
17,290 |
17,416 |
|
|
2,343 |
2,381 |
2,240 |
2,228 |
2,109 |
|
|
221 |
225 |
238 |
243 |
240 |
|
|
2,994 |
2,974 |
3,059 |
3,029 |
3,154 |
See pie chart, line chart
Larimer County Average Yearly Salaries by Industrial Sector, 2004 - 2008
|
NAICS Sectors (code) |
2004 |
2005 |
2006 |
2007 |
2008 |
|
$12,012 |
$12,376 |
$12,376 |
$13,572 |
$13,936 |
|
|
$28,652 |
$27,716 |
$28,756 |
$29,432 |
$29,172 |
|
|
$25,376 |
$25,480 |
$27,612 |
$27,144 |
$29,796 |
|
|
$12,688 |
$13,156 |
$15,756 |
$15,652 |
$15,132 |
|
|
$37,024 |
$39,000 |
$40,196 |
$41,964 |
$42,744 |
|
|
$20,800 |
$20,228 |
$21,684 |
$22,412 |
$24,128 |
|
|
$43,784 |
$44,252 |
$44,720 |
$47,788 |
$50,336 |
|
|
$35,672 |
$37,076 |
$38,428 |
$40,716 |
$41,548 |
|
|
$41,600 |
$43,680 |
$46,852 |
$49,660 |
$48,308 |
|
|
$51,376 |
$52,364 |
$61,672 |
$64,376 |
$63,180 |
|
|
$64,220 |
$61,932 |
$64,948 |
$67,392 |
$68,588 |
|
|
$42,640 |
$40,300 |
$44,460 |
$44,356 |
$45,396 |
|
|
$24,388 |
$25,376 |
$26,780 |
$27,456 |
$27,144 |
|
|
$46,124 |
$60,424 |
$65,728 |
$68,588 |
$73,216 |
|
|
$40,404 |
$41,288 |
$42,276 |
$43,004 |
$44,616 |
|
|
$28,548 |
$29,380 |
$30,836 |
$30,888 |
$31,616 |
|
|
$22,724 |
$22,984 |
$23,088 |
$23,504 |
$23,712 |
|
|
$32,136 |
$30,732 |
$31,928 |
$33,124 |
$34,736 |
|
|
$65,572 |
$54,496 |
$55,796 |
$58,708 |
$59,020 |
|
|
$42,692 |
$43,420 |
$45,760 |
$49,504 |
$51,480 |
Five Industry Sectors with the Highest Average Yearly Salary, Larimer County, 2004- 2008
|
Industry Sectors (NAICS) |
2004 |
2005 |
2006 |
2007 |
2008 |
|
Manufacturing |
$64,220 |
$61,932 |
$64,948 |
$67,392 |
$68,588 |
|
Utilities |
$65,572 |
$54,496 |
$55,796 |
$58,708 |
$59,020 |
|
Management of Companies and Enterprises |
$51,376 |
$52,364 |
$61,672 |
$64,376 |
$67,340 |
|
Finance and Insurance |
$43,784 |
$44,252 |
$44,720 |
$47,788 |
$50,336 |
|
Professional, Scientific, and Technical Services |
$46,124 |
$60,424 |
$65,728 |
$68,588 |
$73,216 |
|
Information |
$41,600 |
$43,680 |
$46,852 |
$49,660 |
$48,308 |
Five Industry Sectors with the Lowest Average Yearly Salary, Larimer County, 2004- 2008
|
Industry Sectors (NAICS) |
2004 |
2005 |
2006 |
2007 |
2008 |
|
Accommodation and Food Services |
$ 12,012 |
$12,376 |
$12,636 |
$13,572 |
$13,936 |
|
Arts, Entertainment, and Recreation |
$ 12,688 |
$13,156 |
$15,756 |
$15,652 |
$15,132 |
|
Retail Trade |
$ 22,724 |
$22,984 |
$23,088 |
$23,504 |
$23,712 |
|
Agriculture, Forestry, Fishing, and Hunting |
$25,376 |
$25,480 |
$27,612 |
$27,144 |
$29,796 |
|
Educational Services |
$ 20,800 |
$20,288 |
$21,684 |
$22,412 |
$24,128 |
|
Other Services (except Public Administration) |
$ 24,388 |
$25,376 |
$26,780 |
$27,456 |
$27,144 |
Five Industry Sectors with the Highest Number of Employees, Larimer County, 2004- 2008
|
Industry Sectors (NAICS) |
2004 |
2005 |
2006 |
2007 |
2008 |
|
Public Administration (Government ) |
22,001 |
22,345 |
22,553 |
23,020 |
23,643 |
|
Manufacturing |
14,620 |
12,448 |
11,904 |
11,978 |
11,950 |
|
Retail Trade |
15,947 |
16,430 |
16,913 |
17,290 |
17,416 |
|
Accommodation & Food Services |
13,486 |
13,716 |
14,179 |
14,358 |
14,399 |
|
Health Care & Social Assistance |
12,343 |
12,616 |
13,089 |
14,381 |
15,099 |
Five Industry Sectors with the Lowest Number of Employees, Larimer County, 2004- 2008
|
Industry Sectors (NAICS) |
2004 |
2005 |
2006 |
2007 |
2008 |
|
Management of Companies and Enterprises |
281 |
544 |
565 |
536 |
515 |
|
Utilities |
221 |
225 |
238 |
243 |
240 |
|
Mining |
336 |
383 |
398 |
404 |
362 |
|
Agriculture, Forestry, Fishing, and Hunting |
736 |
776 |
635 |
722 |
775 |
|
Educational Services |
1,013 |
1,018 |
1,002 |
1,069 |
1,134 |