Colorado’s slow job growth doesn’t mean no one is hiring
Quick links: July unemployment | Take the poll: Who’s hiring? | Edgewater’s tipped minimum wage | Pueblo tortilla plant closure | Realtors offer $1k to wildfire victims
Colorado employers added 5,800 jobs last month, a number that is a preliminary estimate, according to the state labor department’s job report Friday. That growth estimate is likely to change, as we also learned Friday that June’s figure did. It was revised lower, as many other months have been this year.
That’s in line with what those watching the Colorado economy had expected, including economists at University of Colorado’s business school who had cut their expected 2027 job growth for the state by more than half last week. Job growth has slowed faster than forecasted.
But, Brian Lewandowski, executive director of CU’s Business Research Division, said in an email that “Jobs are just one piece of the economy. Despite muted job growth, the state, and most states, continue to record growth in output (GDP) and income, suggesting continued productivity gains.”
As prospects appear limited for job seekers and businesses announce closures (like Mission Foods did, see more down below), Colorado employers haven’t given up.
On Thursday, aerospace company Ursa Major opened its new rocket-motor manufacturing plant in Longmont. The Berthoud-based company chose to expand in Colorado, though it had looked at Ohio, Mississippi and California. It probably didn’t hurt that the company was awarded incentives from Colorado’s Economic Development Commission of up to $35.3 million in tax credits if the company adds 1,850 jobs in the next eight years.
“The reality is that we could have expanded this site to many places, but our team and the talent is here in Longmont and Colorado,” CEO Chris Spagnoletti said during the ribbon-cutting ceremony in Longmont, according to a copy of his remarks.
The company, which employs 300 in Colorado, currently has 120 job openings, according to a spokesperson.
Hiring from within
As challenging as it may be to find a job because of the disconnect between job seekers and employers, another Colorado company took steps to figure out how to find the workers they need. They decided to lean into a longtime effort to hire from within.
Terumo Blood and Cell Technologies, a Lakewood-based manufacturer of medical products used to collect and process blood, has had good success finding full-time employees from its internship program, said Mariah McCarty, senior manager of global talent acquisition. With roughly 25 interns a year, the decades-old program hired 62.5% of last year’s cohort.
“The internship program has been around for a long time at Terumo,” McCarty said. “In fact, there are some people that have retired or left the company who were interns 20 to 30 years ago.”
It has dozens of local openings at any given time, including more than 60 in Colorado currently. The company, a subsidiary of Terumo Corp. in Japan, has been headquartered in Colorado for more than 60 years so it’s also dealing with a retiring workforce. Finding the right people with the right skills is a challenge. Openings tend to attract hundreds of applicants, with internships averaging about 100.
So Terumo, which employs 1,600 people in Littleton and Lakewood, tried something new this year.
It launched a two-year immersive program to give participants a chance to learn every aspect of the supply chain — procurement, management, warehouse and logistics, planning and operations.
“It’s about nine to 12 months per rotation and they’ll complete two to three of the five areas of the supply chain so it’s really in depth,” McCarty said. “That allows them to convert over to a full-time employee and grow and continue in a supply chain area of their interest or they’ll leave with experience and be able to hit the market wherever they want to go.”
Terumu’s first supply chain rotation employee started last month with another two or three in phases of getting hired. “I could easily see five to 10 rotating at any given time,” she said.
The program is just another way that Colorado employers are trying to close the skills gap many still experience with unfilled job openings and the masses of candidates who apply — 248 people applied for Terumo’s rotation program, she said.
“The challenge is often less about the number of applicants and more about finding candidates with the specific skills, expertise and experience needed for specialized positions,” she said.
Take the poll: Who’s hiring?
On Friday, Colorado’s official job board listed over 150,000 open jobs, though only about one third were located in Colorado, according to a search on ConnectingColorado.gov.
But we continue to hear of a skills disconnect, employer ghosting or algorithmic vetting. Are these quirks of the job hunt new? Or have they been around for a long time though under different names? Take the latest What’s Working poll to help us better understand what’s going on in Colorado.
Here you go >> cosun.co/WWhiring2026
July jobless rate stays at 3.9% for seventh straight month
Colorado’s labor force shrunk again in July, losing 4,300 working-age adults since June and falling to a 65.5% labor force participation rate, the lowest since July 2020. There are still nearly 3.2 million Coloradans who are employed or are looking for a job. And the state’s rate is higher than the U.S. rate of 61.4%.
While the number of unemployed workers grew last month, the state’s unemployment rate stayed at 3.9% because of the shrinking labor force. Colorado’s unemployment rate has been at 3.9% since January. The U.S. unemployment rate was 4.1% in July.
As mentioned earlier, employers added 5,800 jobs in July, a preliminary estimate that will likely change as more employers report their numbers. That’s what happened for June, which originally had employers adding 4,800 jobs but was revised down to 1,900 new jobs.
That puts Colorado’s job growth in the past year at 0.4%, above the national rate of 0.2%.
But one bit of positive insight from Lewandowski at CU, was the number of industries that saw job gains in July. Nine gained jobs, including private health care, accommodation and food services and professional and technical services. Eight did not, with the industry seeing the greatest drop in payroll jobs being finance and insurance, losing 900 jobs.
“The data shows that employment growth is broadening — nine industries posted year-over-year growth in July compared to 6 industries that posted growth in July last year and 4 in September,” he said in an email. “Growth is still relatively concentrated in a few industries. Of the gaining industries, healthcare and social assistance still accounted for 37% of the gains. The losses are also concentrated. Of the industries losing jobs, 43% were concentrated in information and in finance and insurance.”
>> See Colorado’s July jobs report
Sun economy stories you may have missed
➔ “Colorado residential electric bills will rise $5 per month — about half what Xcel requested. The state Public Utilities Commission cut Xcel Energy’s original rate hike request but the utility could ask for a rehearing >> Read story
➔ Waymo cars will land in Denver “soon.” Here’s what you should know before hopping in one. We’ve got details on what to expect from the self-driving car service, including a map, how to get on the priority list and why you shouldn’t grab the steering wheel >> Read story
➔ How bison ranchers in one Colorado community are producing quality protein for people in need. As drought shrinks the food supply and federal budget cuts shrink benefits, the Cortez community has come up with a local solution >> Read story
➔ As rapidly aging Colorado confronts social isolation, DU students join nationwide effort to bridge the gap. Perfect Pair matches student volunteers with older adults. The results have paid dividends on both sides. Plus, there’s music. >> Read story
➔ Fast-drying lakes mean unrestricted fishing in Colorado. Here’s why. State keeps calling new emergency rules that allow unlimited fish catch, as dry-up continues >> Read story
➔ Fort Morgan meatpackers vote “yes” on Cargill contract to end 89-day labor lockout. A push for better working conditions and higher pay left 1,700 workers with no job. Union officials said there were some gains but also it was “time to go back to work.” >> Read story
Other working bits
➔ Edgewater considers change to tipped wage formula. The city of Edgewater became the first in the state to adopt the new law giving local governments leeway in setting the minimum wage paid to restaurant servers who get tips. While other cities stuck with paying tipped workers $3.02 an hour less than minimum wage, Edgewater increased the offset to $4.67, or 74% of its minimum of $18.17 this year. The change aimed to support restaurants, which are still required to pay tipped workers the non-tipped minimum if tips don’t cover the difference.
But will that change in 2027? At the City Council meeting Tuesday, members discussed the tipped credit for an hour before deciding to workshop it Sept. 1, said Dan Maples, Edgewater’s city manager.
“They have expressed interest in looking at a 70-75% formula for tipped credit. This means the tip wage will always be 70-75% of the min wage,” Maples said in an email. “Nothing decided yet.” >> Earlier: ”Colorado’s minimum wage heads higher in 2027”
➔ Mission Foods closing Pueblo plant, lays off 90 workers. According to a notice Mission Foods sent to the state labor department Aug. 14, the company’s tortilla plant at 2110 Santa Fe Drive in Pueblo is closing and 90 workers will lose their jobs by Oct. 27.
Some employees are members of the United Food and Commercial Workers Local 7 and because of their status, they have job-bumping rights to displace junior workers at the Mission Foods Distribution Centers in Pueblo and Aurora.
Mission Foods, based in Irving, Texas, is owned by Mexican food conglomerate Gruma Corporation. According to its latest earnings report, Gruma’s global net profit fell 12% to U.S. $118.7 million in the second quarter from a year earlier while its U.S. sales volume fell 3%. The company said all of its subsidiaries are performing in line or exceeding expectations, except for the U.S., which “continues to be under pressure from the effects of low consumer sentiment.” Mission Foods did not respond to a request for comment.
Workers were told to pack up and leave immediately, said Kim Cordova, president of UFCW Local 7. And it wasn’t the first round of layoffs. “There was an earlier layoff, so about 100 workers were waiting to be recalled back to work,” Cordova said in a text message. “Gruma is union busting, closing one of the three unionized plants. They have failed to invest in this plant.” >> View WARN notice
➔ $1,000 available for Colorado wildfire victims. The National Association of Realtors awarded $300,000 to the Colorado Association of Realtors Foundation to support households displaced by this year’s wildfires. Eligible households can apply for up to $1,000 to be used for monthly mortgage expenses for a house damaged by wildfire or for rental costs due to displacement. Applications will be accepted until Oct. 30 or until the funds are exhausted. >> Apply
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Thanks for sticking with me for this week’s report. As always, share your 2 cents on how the economy is keeping you down or helping you up at cosun.co/heyww. ~ tamara
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