Labor Force & Economic Profile Central Planning Region Highlighting Arapahoe & Douglas Counties
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1 C O L O R A D O Labor Force & Economic Profile Central Planning Region 2017 Highlighting Arapahoe & Douglas Counties Labor Force & Economic Profile
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3 Table of Contents Background & High Quality Labor Force Bachelor s Degree by Field Demographics Housing Employment Concentrations Strong Economy Fastest Growing Occupational Groups Occupations with Largest Employment Growth Job Growth by Industry Geographic Distribution of Jobs 15 Unemployment Rates & Age Bands 16 Job Listing Volume 17 Education Gap & Confidence Measures Commute Patterns 20 Workforce Center Locations Labor Force & Economic Profile 2017 Photo courtesy of Denver South Economic Development Partnership 1
4 Background & High Quality Labor Force Background This report was prepared on behalf of the Arapahoe/Douglas Workforce Investment Board. The Arapahoe/Douglas Workforce Investment Board is dedicated to identifying and promoting workforce development strategies to positively impact the economic well-being of Arapahoe and Douglas Counties. Our vision is sustainable employment through strategic investments in human capital that produce positive economic returns for business/industry and contribute to greater quality of life. It profiles the labor force and local economy in the ten-county Colorado Central Workforce Development Planning Region (CCPR), which includes Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Gilpin, Jefferson and Larimer counties. Emphasis is placed on the contribution of Arapahoe and Douglas counties, which together make up the southeast portion of the CCPR. The census data used is from the American Community Survey 2010 to Year Estimates. This is the data set used by the Colorado State Demography Office because it is available for all counties within Colorado, including counties with smaller populations, such as Clear Creek and Gilpin. High Quality Labor Force The CCPR offers a sophisticated, well-trained labor force with educational attainment levels significantly above the national average. The table shows that bachelor s degree attainment in the CCPR is 8.2% higher than the national average and attainment of graduate or professional degrees 4.8% higher. Arapahoe Co Douglas Co Arapahoe/ Douglas Central Planning Region Colorado United States Graduate or Prof. Degree 14.1% 18.8% 15.6% 16.0% 14.0% 11.2% Bachelor s Degree 26.0% 37.8% 29.9% 26.7% 24.1% 18.5% Associate s Degree 8.5% 8.1% 8.4% 7.5% 8.3% 8.1% Some College No Degree 23.0% 20.1% 22.1% 21.1% 22.5% 21.1% H.S. Graduate (includes equivalency) 24.4% 12.9% 17.9% 19.5% 21.8% 27.8% 9 th- 12 th Grade No Diploma 4.4% 1.6% 3.5% 5.1% 5.4% 7.6% Less than 9th Grade 3.6% 0.7% 2.7% 3.9% 3.9% 5.7% Educational Attainment Population Over 25 United States Colorado 29.8% 86.7% 38.1% 90.7% Bachelor s Degree or Higher High School Graduate or higher 45.5% 40.1% 93.9% 92.0% CO 42.8% 90.9% 56.6% 97.7%
5 Bachelor s Degree by Field Metropolitan Denver Region Educational Attainment Levels, Population Over 25 These figures show the number of people in Metro Denver and the Arapahoe/Douglas region over 25 years of age who have a bachelor s, graduate or professional degree, and the field of degree. As well as being a leader in business and education degrees, the Arapahoe/Douglas region has 29.5% of the degrees in computer, mathematics and statistics (shown in table as Science & Engineering Related Fields), and 26.9% of the science and engineering degrees. Arapahoe Co Douglas Co Arapahoe/ Douglas Central Planning Region % of Central Planning Region Science & Engineering 26.9% 50,237 36,107 86, ,269 Science & Engineering Related Fields 10,179 7,706 17,885 60, % Business 36.1% 33,274 27,911 61, ,570 Education 10,649 6,938 17,587 56, % Arts, Humanities & Other 26.7% 31,800 19,684 51, ,985 Labor Force & Economic Profile
6 Demographics Arapahoe Co Douglas Co Arapahoe/Douglas Population Population 16 Years and Over 608,310 change since % 306,974 change since % 915,284 change since % 3,292,187 change since % 311,498 change since % 159,511 change since % 471,009 change since % 2,602,405 change since % Median Household Income $63,265 $102,964 $76,212 $66, = -0.90% 2010 = -4.60% 2010 = -0.02% 2010 = 0.20% Median Value Owner Occupied Homes $247, = 6.6% $354, = 4.7% $288, = 6.6% $277, = 6.6% Poverty Rate 11.2% 2010 = -0.4% 4.0% 2010 = 1.1% 8.9% 2010 = 0.0% 12.1% 2010 = -0.1% Households 229, = 4.9% 111, = 12.5% 340, = 7.3% 1,274, = 6.3%
7 Housing Buying a Home in the Affordable housing is a major factor in a region s quality of life. Along with good schools, adequate healthcare, recreation and transportation, affordable housing is an integral part of a region s ongoing economic vitality These figures, from Trulia and Wells Fargo, are based on a 5% down payment, and a 28% debt-to-income ratio. Note that all debt, including student loan, mortgage and revolving credit balances count against this 28%. Labor Force & Economic Profile
8 Employment Concentrations This graphic shows industry groups with significant concentrations in the Arapahoe/Douglas region. Information includes telecommunications, broadcast cable, software publishing, data hosting and web portals. The professional, scientific & technical group includes computer systems design and related services, engineering services and testing laboratories. Employment in the management of companies and enterprises group reflects the numerous companies that have located headquarters near Centennial Airport, which is one of the busiest general aviation airports in the nation. Finance & Insurance Arapahoe/Douglas 36,565 84,463 Percent in A/D = 43.3% Information i Arapahoe/Douglas 23,600 58,952 Percent in A/D = 40.0% Management of Companies & Enterprises Arapahoe/Douglas 10,732 31,766 Percent in A/D = 33.8% Retail Trade Arapahoe/Douglas 54, ,389 Percent in A/D = 30.7% Admin & Support & Waste Management & Remediation Services Arapahoe/Douglas 38, ,607 Percent in A/D = 30.6% Health Care & Social Assistance Arapahoe/Douglas 57, ,686 Percent in A/D = 27.9% Construction Arapahoe/Douglas 35, ,775 Percent in A/D = 27.3% Other Services (except Public Administration) Arapahoe/Douglas 23,250 87,872 Percent in A/D = 26.5% Professional, Scientific & Technical Services Arapahoe/Douglas 49, ,170 Percent in A/D = 26.3% Arts, Entertainment & Recreation Arapahoe/Douglas 8,560 35,486 Percent in A/D = 24.1%
9 Real Estate & Rental & Leasing Arapahoe/Douglas 10,281 41,754 Percent in A/D = 24.6% Wholesale Trade Arapahoe/Douglas 18,450 81,535 Percent in A/D = 22.6% Accommodation & Food Services Arapahoe/Douglas 39, ,362 Percent in A/D = 22.1% Educational Services Arapahoe/Douglas 8,921 43,859 Percent in A/D = 20.3% Government Arapahoe/Douglas 55, ,775 Percent in A/D = 19.4% Mining, Quarrying & Oil & Gas Extraction Arapahoe/Douglas 1,573 12,922 Percent in A/D = 12.1% Manufacturing Arapahoe/Douglas 11, ,229 Percent in A/D = 11.1% Transportation & Warehousing Arapahoe/Douglas 5,105 54,293 Percent in A/D =9.4% Utilities Arapahoe/Douglas 359 4,139 Percent in A/D = 8.7% Crop & Animal Production Arapahoe/Douglas 531 5,979 Percent in A/D = 8.9% Total Employment Arapahoe/Douglas 490,952 1,943,083 Percent in Arapahoe/Douglas 25.3% Labor Force & Economic Profile
10 Strong Economy The Arapahoe/Douglas Area has a strong and diverse economy with 490,952 jobs that produce nearly $33.4 billion in worker earnings. This is 25.3% of jobs and 26.0% of worker earnings in the Central Planning Region. Gross Regional Product (GRP) for the two-county Arapahoe/Douglas area is $59.5 billion, which is 27.9% of GRP for the.
11 Fastest Growing Occupational Groups These tables show where there is likely to be the most occupational need in the next five years. This has implications for workforce development, economic development and postsecondary education leaders. Labor Force & Economic Profile
12 Occupations with Largest Employment Growth Combined Food Preparation & Serving Workers, Including Fast Food 2016 Jobs: 46, Jobs: 52,552 Change: 5,975 % Change: 12.8% Median Hourly Earnings: $9.29 Typical Entry Level Education Required: No formal education credential Registered Nurses 2016 Jobs: 32, Jobs: 37,114 Change: 4,190 % Change: 12.7% Median Hourly Earnings: $33.90 Typical Entry Level Education Required: Bachelor s degree Customer Service Representatives 2016 Jobs: 32, Jobs: 36,726 Change: 3,819 % Change: 11.6% Median Hourly Earnings: $16.57 Typical Entry Level Education Required: High school diploma or equivalent Personal Care Aides 2016 Jobs: 18, Jobs: 22,627 Change: 3,759 % Change: 19.9% Median Hourly Earnings: $10.28 Typical Entry Level Education Required: No formal education credential Retail Salesperson 2016 Jobs: 56, Jobs: 60,304 Change: 3,507 % Change: 6.2% Median Hourly Earnings: $10.85 Typical Entry Level Education Required: No formal education credential Janitors & Cleaners, Except Maids & Housekeeping Cleaners 2016 Jobs: 29, Jobs: 32,736 Change: 3,125 % Change: 10.6% Median Hourly Earnings: $11.49 Typical Entry Level Education Required: No formal education credential
13 Office Clerks, General 2016 Jobs: 31, Jobs: 34,785 Change: 3,118 % Change: 9.8% Median Hourly Earnings: $17.38 Typical Entry Level Education Required: High school diploma or equivalent Secretaries & Administrative Assistants, Except Legal, Medical, & Executive 2016 Jobs: 42, Jobs: 45,721 Change: 2,900 % Change: 6.8% Median Hourly Earnings: $17.78 Typical Entry Level Education Required: High school diploma or equivalent Accountants & Auditors 2016 Jobs: 29, Jobs: 32,363 Change: 2,889 % Change: 9.8% Median Hourly Earnings: $33.14 Typical Entry Level Education Required: Bachelor s degree General & Operations Managers 2016 Jobs: 30, Jobs: 33,261 Change: 2,821 % Change: 9.3% Median Hourly Earnings: $54.23 Typical Entry Level Education Required: Bachelor s degree Photo courtesy of Denver South Economic Development Partnership Labor Force & Economic Profile
14 Job Growth by Industry This table is sorted by the number of new jobs projected through In Arapahoe and Douglas counties, the healthcare sector employed 45,954 people in The sector grew 8.2% between 2014 and The healthcare sector surpassed government for most jobs in the county in 2015, and by 2016 had added over 3,500 jobs.
15 This table is sorted by the number of new jobs projected through The healthcare, professional, scientific and technical services sectors are projected to add the most jobs in the region. Labor Force & Economic Profile
16 Geographic Distribution of Jobs Projected job growth between 2016 and 2017 in the Arapahoe/Douglas region is 2.8%, which is higher than projected growth in the Colorado as a whole. Highest Job Growth In 2016 Douglas County employment grew at the same rate as overall employment in the CCPR, and is projected to grow 0.94 times faster through Employment in Arapahoe County grew three tenths of one percent slower than overall employment in the CCPR in 2016, and is expected to grow at the same rate in % 3.0% 3.1% 3.1% 3.4% 3.4% 3.4% 3.5% 3.6% 13.7% Clear Creek Larimer Broomfield Arapahoe Denver Douglas Jefferson Boulder Adams Gilpin Highest Projected Percent Change for Job Growth % 1.9% 1.9% 2.2% -0.5% 1.5% 1.5% 2.8% 3.0% 4.2% Gilpin Jefferson Clear Creek Boulder Larimer Denver Arapahoe Adams Broomfield Douglas
17 Unemployment Rates & Age Bands In October 2015, the unemployment rate in Colorado was 1.4% below that of the United States. In October 2016, this gap remained constant at 1.4%. The table below shows the number of workers in each age band by industry group. The table has been sorted by the highest percentages of workers over age 45. This type of analysis can be valuable because industry groups that have higher numbers of mature workers may need to plan more aggressively around pending retirements, particularly in key positions. Industry groups with 50% or more workers over 45 years old may need to be especially concerned. Labor Force & Economic Profile
18 Job Listing Volume Job Listing Volume The table shows job listing volume from CEB s Help Wanted Online (HWOL). HWOL is a real-time labor market analytical tool that aggregates non-duplicated job listings from the internet. The pie chart shows a declining trend in the number of jobs listed in the most recent quarter versus the same period last year. Online Job Posting 92,062 91,445 77,053 October November December ,552 95,614 79,421 October November December 2015
19 Education Gap & Confidence Measures Education Gap An important part of keeping the local economy robust and growing involves cooperation of industry leaders around managing the labor force to ensure firms have a steady supply of skilled labor in the training pipeline. Sector efforts that convene leaders, human resources executives and operational experts around the concept of strategic labor force management have proven highly successful in helping job seekers get the training they need to enter sustainable employment, and employers in filling critical positions. Confidence Measures The Leeds School of Business, located at the University of Colorado at Boulder, publishes reports on expectations for state and national economies and its Business Confidence Index each quarter. Results of the most recent surveys are shown below. Labor Force & Economic Profile
20 Commute Patterns The ten-county area that makes up metro Denver is a labor shed, which is defined as that area within which people are willing to commute to work. In Arapahoe County, for instance, 168,606 residents commute to other counties within metro Denver to work. An increasing number of people now hold jobs that allow them to work from home. In the United States, the percent of people working from home increased from 4.3% to 4.5% between 2009 and In metro Denver, that number increased from 6.2% in 2009 to 6.6% in In Douglas County, an estimated 10.2% of the workforce worked from home in 2014.
21 Commute Patterns by County, The graphic below puts commute patterns between counties in metro Denver into sharper relief. The greater metro Denver area must always be considered when profiling the local labor force and economy because the population that lives in one county rarely has all of the skills needed by employers doing business within that county. Workers that best fit the skills needed must be imported from other counties within the region, other states, and even other countries. COMMUTING INTO COUNTY 89.2% Gilpin 87.9% Broomfield 79.1% Clear Creek 70.5% Denver 66.3% Adams 65.6% Arapahoe 64.2% Douglas 58.2% Jefferson 50.2% Boulder 36.6% Larimer COMMUTING OUT OF COUNTY 87.2% Clear Creek 86.2% Broomfield 75.4% Douglas 75.1% Gilpin 71.8% Adams 65.5% Jefferson 63.5% Arapahoe 52.3% Denver 41.5% Boulder 36.3% Larimer Labor Force & Economic Profile
22 Workforce Center Locations Centennial - Regional Workforce Center Lima Plaza Campus 6974 S. Lima Street Centennial, CO Ph: Fax: TTY: CentrePoint - Aurora Workforce Center Customers of Arapahoe County Parents to Work! Program only CentrePoint Plaza East Alameda Drive Aurora, CO Aurora Workforce Center Altura Plaza E. 14th Place, Ground Level Aurora, CO Ph: Want more ways to connect... Follow us on Twitter Connect with us on LinkedIn - ADW Connections Visit us on the web - us at Business.Solutions@arapahoegov.com
23 Labor Force & Economic Profile
24 ADW Connections C O L O R A D O Prepared by the Arapahoe/Douglas Workforce Development Board Labor Force & Economic Profile
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