{"id":6400,"date":"2016-04-05T12:04:36","date_gmt":"2016-04-05T18:04:36","guid":{"rendered":"https:\/\/www.regiontrack.com\/www\/?p=6400"},"modified":"2016-04-05T12:04:36","modified_gmt":"2016-04-05T18:04:36","slug":"energy-collapse-weighs-further-on-colorado-hiring","status":"publish","type":"post","link":"https:\/\/www.regiontrack.com\/www\/energy-collapse-weighs-further-on-colorado-hiring\/","title":{"rendered":"Energy Collapse Weighs Further on Colorado Hiring"},"content":{"rendered":"

We often refer to\u00c2\u00a0Colorado as one of the ‘Super States.’ <\/strong>That\u00c2\u00a0select group of high-performing states with strong job and wage growth, rapid in-migration of new residents, an educated workforce, abundant high-tech activity, and so on. You get the picture.<\/p>\n

But it is the old fashioned commodity markets<\/strong>, particularly crude oil and natural gas, that are once again acting as a ball and chain to slow down hiring in The Centennial State.\u00c2\u00a0<\/strong>The\u00c2\u00a0oil and gas industry hit the wall at the end of 2014, and it continues to take\u00c2\u00a0some of the starch out of job growth in the state.
\n<\/p>\n

Our pic of the week shows the rather steep and continued slowing in the rate of job growth in Colorado since January 2015. <\/strong>Hiring\u00c2\u00a0bounced back sharply\u00c2\u00a0following the recession and by\u00c2\u00a0December of 2014 Colorado was adding jobs at a remarkable 3.8% annual pace, or nearly 93,000 jobs annually. North Dakota was arguably\u00c2\u00a0the only state to outperform Colorado on a consistent basis in the post-recession period up to this point.\"potw_1_20160405\"<\/a><\/p>\n

Hiring in the\u00c2\u00a0state has since slowed steadily to a 2.5% pace (63,000 jobs per year) with further loss of momentum visible in revised data released\u00c2\u00a0recently.\u00c2\u00a0Colorado now ranks\u00c2\u00a011th among the states in job creation the past 12 months, trailing the competing states of Idaho, Utah, Oregon, Tennessee, Washington, Florida, and Arizona, all Super States in my book and\u00c2\u00a0which are all\u00c2\u00a0currently adding jobs\u00c2\u00a0at a 3%+ pace.\u00c2\u00a0Our outlook calls for further slowing in state job growth to slightly above\u00c2\u00a02% by the end of\u00c2\u00a02016 as crude oil and natural gas prices remain depressed.\u00c2\u00a0<\/strong><\/p>\n

Despite the\u00c2\u00a0slowing,\u00c2\u00a0Colorado remains a Super State\u00c2\u00a0and 2.5%\u00c2\u00a0is still rapid job growth<\/strong>. \u00c2\u00a0 It also makes Colorado the fasting growing state with a relatively large oil and gas complex. In Texas, job growth has slowed from a 3.7% pace to only 1.4% in the same period.<\/p>\n

So, while operating well below\u00c2\u00a0peak efficiency,\u00c2\u00a0the Colorado economy\u00c2\u00a0is still adding jobs\u00c2\u00a0at an impressive pace\u00c2\u00a0given the severity of the oil and gas downturn across the state.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

We often refer to\u00c2\u00a0Colorado as one of the ‘Super States.’ That\u00c2\u00a0select group of high-performing states with strong job and wage growth, rapid in-migration of new residents, an educated workforce, abundant high-tech activity, and so on. You get the picture. But it is the old fashioned commodity markets, particularly crude oil and natural gas, that are…<\/p>\n","protected":false},"author":1,"featured_media":6408,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","om_disable_all_campaigns":false,"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,13,1],"tags":[26,43,46],"post_series":[],"class_list":["post-6400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-graphic","category-pic-of-the-week","category-uncategorized","tag-colorado","tag-employment","tag-energy-states","entry","has-media"],"aioseo_notices":[],"uagb_featured_image_src":{"full":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"thumbnail":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405-150x150.png",150,150,true],"medium":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405-300x175.png",300,175,true],"medium_large":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405-768x449.png",768,449,true],"large":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405-1024x598.png",980,572,true],"1536x1536":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"2048x2048":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"lightbox":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"search_results":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405-125x125.png",125,125,true],"blog_entry":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405-250x150.png",250,150,true],"blog_post":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"blog_post_full":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"blog_related":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"portfolio_entry":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"portfolio_post":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"portfolio_related":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"staff_entry":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"staff_post":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"staff_related":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"testimonials_entry":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"testimonials_post":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false],"gallery":["https:\/\/www.regiontrack.com\/www\/wp-content\/uploads\/potw_1_20160405.png",1073,627,false]},"uagb_author_info":{"display_name":"mcsnead","author_link":"https:\/\/www.regiontrack.com\/www\/author\/mcsnead\/"},"uagb_comment_info":0,"uagb_excerpt":"We often refer to\u00c2\u00a0Colorado as one of the ‘Super States.’ That\u00c2\u00a0select group of high-performing states with strong job and wage growth, rapid in-migration of new residents, an educated workforce, abundant high-tech activity, and so on. You get the picture. But it is the old fashioned commodity markets, particularly crude oil and natural gas, that are…","_links":{"self":[{"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/posts\/6400","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/comments?post=6400"}],"version-history":[{"count":0,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/posts\/6400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/media\/6408"}],"wp:attachment":[{"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/media?parent=6400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/categories?post=6400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/tags?post=6400"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/www.regiontrack.com\/www\/wp-json\/wp\/v2\/post_series?post=6400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}