Small-business employment on the rise in Colorado

Job growth nationally slowed in August but the latest monthly Small Business Index from Intuit Inc. has good news for Colorado employers.

The state, according to the index, ranked fifth for gains in small-business employment last month. Small-business employment in Colorado rose by 0.11 percent in August.

The state to see the biggest gain in August was Utah, up a half-percent.

Intuit’s data also showed that small-business workers were paid an average of $2,791 a month in August, up $16 from the previous month’s adjusted level. Monthly time worked averaged 109.8 hours in August, up 36 minutes from the previous month’s revised figure.

Intuit uses data from 242,000 businesses with 20 or fewer workers.

In the meantime, The Conference Board says Colorado gained 7,600 online help-wanted advertisements in August compared to the previous month.

That was a much larger gain than July’s increase of just 300 ads.
Among August’s Colorado job ads:

  • 43,017 were in professional and related services, with an average hourly wage of $33.11.
  • 30,873 were for sales and office jobs, with an average hourly wage of $18.40.
  • 20,450 were for service jobs, with an average hourly wage of $13.
  • 17,627 were for management and business/financial positions, with an average hourly wage of $42.84.
  • 14,091 were for construction and maintenance jobs, with an average hourly wage of $21.41.
  • 12,856 were for production and transportation positions, with an average hourly wage of $17.40.
  • In Denver alone, online job ads rose by 3,200 in August from the previous month, to 71,100, of which 37,400 were new ads.

Nationally, the economy added just 142,000 net new jobs in August, well below analyst expectations August’s poor job creation of 142,000 broke a six-month streak of the economy adding more than 200,000 jobs a month.

The silver lining is that economists said the weak numbers appear to be an anomaly and are no reason to panic.

A grocery store strike in New England and seasonal adjustment problems with auto manufacturers, they said, contributed to the weaker figures.

About the Author

Larry Hannappel

Larry spent 16 years with Century Casino’s and was instrumental in the start-up and growth of the company through expansions in Canada, South Africa, the Czech Republic, Poland and on several cruise ships as well as in Colorado. He was most recently the SVP, Principal Finance Officer and COO of North American operations for Century Casinos Inc., a multinational, Nasdaq-traded gaming company. Earlier in his career, Larry worked at the Johns Manville Corp. Larry spent 13 years in various accounting and finance functions in the company’s fiberglass manufacturing division and was key in the start-up of a molding plant in Indiana. Larry and his wife Kathy and three children live in Colorado. He enjoys four-wheeling, motorcycling, golfing, skiing and brewing beer.

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