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Old 01-01-2008, 03:15 PM
 
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I was just wondering why there has been a couple of years of negative job growth in the Denver area? Does it have to do with jobs moving to different suburbs or are jobs moving out of state?
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Old 01-01-2008, 03:23 PM
 
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Originally Posted by NE Live View Post
I was just wondering why there has been a couple of years of negative job growth in the Denver area? Does it have to do with jobs moving to different suburbs or are jobs moving out of state?
What is the source of that information? Haven't heard this before. Thanks!
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Old 01-01-2008, 03:35 PM
 
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Well I found that for the city of Denver it says -4.5% for 2006, link below. And for 2007 it says -5.27%.

http://money.cnn.com/magazines/money...PL0820000.html

http://money.cnn.com/magazines/money...PL0820000.html

Last edited by NE Live; 01-01-2008 at 03:56 PM..
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Old 01-01-2008, 04:01 PM
 
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Quote:
Originally Posted by NE Live View Post
I was just wondering why there has been a couple of years of negative job growth in the Denver area? Does it have to do with jobs moving to different suburbs or are jobs moving out of state?
I would guess a little of both.

2000 was the middle of the dot-com mania, and Denver hasn't yet fully recovered from the subsequent crash, which hit our area hard and did lead to significant job loss from 2001-2003.

On the other hand, there is a continuing migration of jobs out to suburban areas, a recent example being the establishment of the Anschutz Medical Campus in Aurora, which is leading to a migration of several major hospitals out of Denver to their new facilities there. That move alone will likely amount to tens of thousands of jobs.
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Old 01-01-2008, 04:13 PM
 
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Default Denver Metro Area Job Growth

Thanks for the links. We have to look carefully at any statistics, to see what they contain, but more importantly, what they don't contain. The Money-CNN stats are for the core city of Denver, pop 550K, thus not containing stats for the entire Denver Metro Statistical Area (MSA), with a pop of 2.5M. By googling the topic of job growth, the Denver MSA stats tell a decent story.

Source: http://www.bizjournals.com/denver/st...4/daily32.html
Gist: Colorado's economy experienced "remarkable turnaround," jumping to 10th fastest job-growth state by end of 2004, compared with 45th a year earlier, said the FDIC. By year-end, CO employment was growing at a rate of 2.1% year-over-year, outstripping national growth rate of 1.6 percent.
IMO: Money-CNN stats are for core city of Denver (pop. 550K), not the total Denver MSA (pop. 2.5M). FDIC stats are statewide and show decent job growth. The Money-CNN stats cover 6+ years and reflect the clobbering of the dot-com and 9-11 impacts to the national economy.

Source: http://www.bizjournals.com/denver/st...7/daily23.html
Gist: A global financial credit crunch and housing slowdown will slow job growth in the Denver area in 2008, according to an economic forecast released Tuesday by a team of Wells Fargo economists. Job growth will slow to about 1.5 percent for 2007 and 1.1 percent in 2008, compared with 2.1 percent in 2006, according to Jim Paulsen, chief investment strategist at Wells Capital Management, and Scott Anderson and Eugenio Aleman, senior economists at Wells Fargo & Co.
IMO: Speaks to the whole Denver MSA.

Source: http://www.metrodenver.org/metro-denver-economy
Gist: While Metro Denver was not immune to the national downturn following the post 9/11 high-tech fallout, we've rebounded in a big way, adding over 102,000 new jobs from 2003 to 2007.
IMO: Speaks to the whole Denver MSA.

Source: http://www.rockymountainnews.com/drmn/airlines/article/0,2777,DRMN_23912_5642283,00.html (broken link)
Gist: For 2006, ďaviation employment rose 9.2 percent, to 14,200 positions.Ē
IMO: The airport is way outside the city, but in the MSA. More such jobs are coming to the region, as Frontier announced plans for a major maintenance hangar in COL SPGS, to be followed by more flights here.

Overall: Even if Denver core city is losing jobs, they are only going over the line into the rest of the Denver MSA, as TFOX points out with the hospital example. Whether this is good or bad is anyoneís guess, and IMO, itís probably good. From a commuting standpoint, in an MSA of 2.5M, you canít have all the jobs in the core city, as doing so causes a totally unbalanced rush hour commute patterns like those gridlocked eastern cities that Iím familiar with. Moving jobs and services out from the dense core to where the majority of the population is located means shorter commutes for a lot of people. It also gives the Denver core city a chance to redevelop itself, hopefully into a walk-about city with fairly dense housing served more by light rail and less by car.

I see no call for pessimism. If contemplating coming here, check the local want ads and internet job sites for your specialty.

s/Mike

Last edited by Mike from back east; 01-01-2008 at 05:00 PM..
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Old 01-01-2008, 06:07 PM
 
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Thanks Mike. Yeah I noticed that to and should have clarified that it was the "downtown core of Denver" not the greater Denver area. Thanks for the follow-up.
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Old 01-05-2008, 02:46 AM
 
Location: Eastern Colorado
3,768 posts, read 4,618,092 times
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the downtown area of Denver has been losing jobs, they put in a head tax which forces companies to pay a monthly tax for each employee that works for them in the Denver city limits, so many of the companies have found it is cheaper to move a few blocks down the road into other cities.
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