Comparing the Differences in Wages Across Colorado's Seven Metropolitan Statistical Areas
Part two in a five-part series covering various Colorado statistics produced by the Occupational Employment and Wage Statistics program
As mentioned in Part I of this post, OEWS estimates are available for all of the Metropolitan Statistical Areas (MSA) in the nation. In total, there are 396 MSAs in the U.S. that have 2023 OEWS estimates, including D.C. and areas within Puerto Rico. Colorado has seven MSAs: Boulder (Boulder County), Colorado Springs (El Paso and Teller counties), Denver-Aurora-Lakewood (a ten-county area), Fort Collins (Larimer County), Grand Junction (Mesa County), Greeley (Weld County), and Pueblo (Pueblo County). Collectively, those seven MSA made up 88.6% of Colorado’s occupational employment total of 2.832 million in 2023. Denver-Aurora-Lakewood, the state’s largest MSA, represented just over 56% of overall occupational employment.
Compared to the statewide median annual wage of $54,040 for all occupations, two MSAs (Boulder and Denver-Aurora-Lakewood) surpassed that figure, while the remaining five MSAs were lower. The Boulder MSA had the highest median annual wage at $64,750 and the Grand Junction MSA had the lowest median annual wage at $45,900. While there are several factors that could explain wage discrepancies across geographic areas, a closer look at occupational distribution within MSAs is easily accomplished with OEWS estimates. According to the statewide estimates, there were nine broad occupational groups that had median annual wages that fell below $54,040 (or the hourly equivalent): food preparation and serving related; personal care and service; farming, fishing, and forestry; building and grounds cleaning and maintenance; healthcare support; transportation and material moving; sales and related; production; and office and administrative support. Only 44.8% of the Boulder MSA’s occupational employment in 2023 was within those nine occupational groups, the lowest share of any Colorado MSA. The Denver-Aurora-Lakewood MSA had the next lowest share at 50.3%, while the highest share belonged to the Pueblo MSA at 55.7%.
Nationally, the MSA with the highest median annual wage in 2023 was San Jose-Sunnyvale-Santa Clara, CA, at $81,470. The only other MSAs that had median annual wages that exceeded $70,000 in 2023 were California-Lexington Park, MD ($72,620) and San Francisco-Oakland-Hayward, CA ($72,050). The Boulder MSA ranked 6th nationally, while the Denver-Aurora-Lakewood MSA just fell out of the top ten, ranking 11th. Fort Collins and Greeley ranked in the top 50 nationally, at 41st and 47th, respectively, while Colorado Springs ranked 60th. The national ranking for the Pueblo and Grand Junction MSAs substantially lagged the rest of the state, placing 142nd and 167th, respectively.