Denver Area Economic Summary

Denver Area Economic Summary

Updated February 02, 2022

This summary presents a sampling of economic information for the area; supplemental data are provided for regions and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area summaries and geographic definitions, see regions/economic-summaries.htm.

Unemployment rates for the nation and selected areas

Unemployment rates

Average weekly wages for all industries by county

Denver area, second quarter 2021 (U.S. = $1,241; Area = $1,429)

United States

6.5 3.7

Denver area

7.1 4.2

Adams Co.

7.7 4.9

Arapahoe Co.

7.3 4.5

Denver Co.

7.8 4.6

Jefferson Co.

6.7 3.8

0.0 2.0 4.0 6.0 8.0 10.0

Dec-20 Dec-21 Source: U.S. BLS, Local Area Unemployment Statistics.

Source: U.S. BLS, Quarterly Census of Employment and Wages.

Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector

12-month percent changes in employment 15.0

10.0

5.0

0.0

-5.0

-10.0

-15.0 Dec-18

Dec-19

Dec-20

Dec-21

Denver area

United States

Source: U.S. BLS, Current Employment Statistics.

Denver area employment (number in thousands)

Change from Dec. Dec. 2021 2020 to Dec. 2021

Number Percent

Total nonfarm

1,547.9

91.8

6.3

Mining, logging, and construction

108.7

-0.5

-0.5

Ma nufa cturi ng

70.4

1.7

2.5

Trade, transportation, and utilities

304.9

10.3

3.5

I nforma ti on

51.6

1.3

2.6

Financial activities

116.5

3.7

3.3

Professional and business services

290.1

15.1

5.5

Education and health services

193.0

6.5

3.5

Leisure and hospitality

150.9

43.9

41.0

Other services

60.8

6.3

11.6

Government

201.0

3.5

1.8

Source: U.S. BLS, Current Employment Statistics.

Over-the-year change in the prices paid by urban consumers for selected categories

12-month percent change in CPI-U, November 2021

40.0

36.6

35.0

33.3

30.0

25.0

20.0

15.0

10.0 6.5 6.8 5.0

4.4 6.1

0.0

All items

Food

Energy

Denver area

U.S. city average

Source: U.S. BLS, Consumer Price Index.

Over-the-year changes in the selling prices received by producers for selected industries nationwide

12-month percent changes in PPI

25.0 20.0 15.0 10.0

5.0 0.0 -5.0 -10.0

Dec-18

Dec-19

Dec-20

General freight trucking

Hospitals

Dec-21

Telecommunications Source: U.S. BLS, Producer Price Index.

Average annual spending and percent distribution for selected categories

Average annual expenditures, United States and

100% 80% 60%

Denver, 2019-20

$13,703 $5,645 $9,860 $7,838

$10,754 $5,185 $7,205 $7,744

40%

$12,749

$10,257

20%

$25,965

$21,043

0% Denver

United States

All other items

Healthcare

Personal insurance & pensions

Food

Transportation

Housing Source: U.S. BLS, Consumer Expenditure Survey.

Average hourly wages for selected occupations

Occupation All occupations

Denver area

United States

$31.19 $27.07

Petroleum engineers

76.97 74.20

Software developers and software quality assurance analysts and testers

54.26 54.94

Civil engineers

47.91 45.88

Biological technicians

21.55 23.79

Construction laborers

19.27 20.67

Tire repairers and changers

17.99 15.28

Source: U.S. BLS, Occupational Employment and Wage Statistics, May 2020.

Employer costs per hour worked for wages and selected employee benefits by geographic division

Private industry, September 2021

Mountain (1)

United States

Total compensation

$34.78 $37.24

Wages and salaries

24.40

26.36

Total benefits

10.38

10.88

Paid leave

2.42

2.74

Vacation

1.23

1.40

Supplemental pay

1.34

1.26

Insurance

2.83

2.80

Retirement and savings

1.18

1.28

Legally required benefits

2.60

2.80

(1) The states that compose the Mountain census division are: AZ, CO, ID, MT, NV, NM, UT, and WY. Source: U.S. BLS, Employer Costs for Employee Compensation.

Over-the-year changes in wages and salaries

12-month percent changes in ECI

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0.0

Dec-18

Dec-19 Mountain

Source: U.S. BLS, Employment Cost Index.

Dec-20 United States

Dec-21

Mountain-Plains Information Office ? BLSinfoKansascity@ ? ? 816-285-7000

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