1st Quarter 2015 Regional Economic Forecast News – Moffat, Rio Blanco & Routt counties

  • Unemployment rates for the tri-county Yampa-White River region fell by a combined 1.9% over the course of 2014. December 2014 rates for each county (4.2% in Moffat, 3.2% in Rio Blanco, 3.0% in Routt) represent a return to favorable pre-recession levels. Current economic indicators point toward continued low unemployment and sustained job growth in Colorado in 2015.
  • The Mining sector continues to lead the way in Moffat and Rio Blanco counties as the largest wage generator. Mining accounted for almost $9 million of the roughly $50 million in wages in Moffat, or about 18% of all wages, in the second quarter of 2014. Mining won out as the top wage distributor and largest employer in Rio Blanco County, accounting for better than $12 million of the roughly $40 million in RBC Q2 wages, or about 30%.
  • In Routt County, the Construction industry accounted for 15% of the roughly $137 million in total Q2 wages and took second place as largest employer in terms of jobs. Accommodation and Food Services was Routt County’s largest sector in terms of number of workers, providing more than 15% of the jobs in the county. But this sector, unfortunately, offers the lowest wage in the county.
  • Year-to-date coal production through October was up better than 6% in Moffat County, down 6.5% in Rio Blanco County and down 11% in Routt County.
  • This quarter’s Regional Economic Forecast News digs deeper into which industries are growing in the tri-county area. Our analysis begins on page 8.

YV_Data_Partners_Economic_Newsletter_Q1_2015_Final

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