Labor outlook mixed for region

The Northern Colorado labor market received mixed reviews at a meeting of the Northern Colorado Network this morning.

NoCo Net, a forum of under- and unemployed professionals in the region, heard about current and future job prospects from regional economist John Green; J.J. Johnston, president and CEO of the Northern Colorado Economic Development Corp.; and Larry Burkhardt, president and CEO of Upstate Colorado Economic Development.

Green kicked off the discussion by dissecting local economic trends tied directly to employment. He pointed out that while employment is up sharply in 2006 it appears to be slowing with weaker-than-average numbers in July. Additionally, he warned that year-over-year employment comparisons might be overly optimistic because employment growth in 2005 was much slower than it was in 2004.

Green added that the national economy is on the precipice of a downturn that would last through 2008. Specific to Northern Colorado, he pointed to health in the health-care industry as an employment driver. But a slowdown in construction would tighten the labor market in other areas.

For the crowd of nearly 50 job seekers, Green’s presentation didn’t give or withhold hope. Of those in attendance, a majority had worked in technical positions at computer, electronic or mechanical companies; many were in management as well. Green predicted that the weak dollar would boost sales for companies that export heavily.

Johnston pointed to a report commissioned by the North Front Range Metropolitan Planning Organization that estimates job growth in Northern Colorado will outpace population growth.

“We live and breathe job retention,” he said of economic development agencies.

Johnston highlighted the number of companies that have joined the region or expanded since 2004. Of particular interest to the tech-heavy group were the attraction of Intel and AMD and relocation of In-Situ to the region. Johnston said there would be another expansion announcement this fall.

Burkhardt began by explaining the differences between the Weld and Larimer economies – with the former more blue-collar and ag-based, and the latter more tech-heavy. But he is seeing some changes for Weld’s economy, with primary growth expected in south Weld County and along the Interstate 76 corridor in areas such as Lochbuie and Keenesburg.

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