8/15/2023 0 Comments Middle class us![]() A Different Economic Reality for Low-Skilled, Low-Paid EmployeesĮven with one of the nation’s most highly educated workforces, approximately 60 percent of working-age Coloradans do not possess a college degree. 7Ĭolorado’s economy is clearly doing well, but the middle-class experience within it varies considerably depending on levels of education and skill, geographic location, race, and ethnicity. 6 The growth has created a tight labor market in the last few years, and employers are alarmed about the increasing difficulty of finding workers to fill vacancies. 5 Postrecession, Colorado ranks among the top ten states in employment, population, and income growth. Average wages in these industry clusters in the metro Denver area range from $60,000 to over $170,000 per year. These include aerospace, aviation, beverage production, bioscience, broadcasting and telecommunications, energy, financial services, food and agriculture, healthcare and wellness, information technology software, outdoor recreation, and tourism. Leveraging a highly educated workforce and extensive research and development (R&D) through its network of universities and federal laboratories, Colorado now boasts several thriving industry clusters. 4 The state’s diversified economy, physical beauty, abundant outdoor recreation, and innovation culture have primed it for growth. 3 Colorado’s colleges and universities have been steadily turning out more graduates, while the state concurrently attracts a massive inflow of educated talent from across the nation and globe. In 1970, less than 15 percent of Coloradans possessed a college degree today, over 40 percent do. ![]() Colorado’s population has more than doubled since 1970 and has become increasingly educated. In the last few decades, Colorado’s workforce has evolved considerably, contributing to the diversification of the economy. Indeed, beef and other meat products are still among Colorado’s top goods exports, and coal powers more than half of the state’s electricity. 1 The state still bears the imprint of these early industries, even as the past century has been marked by diversification and reinvention. Farming and ranching, coal mining, and rail lines quickly sprung up to support them. In the late 1800s, risk-takers and adventurers flocked to Colorado in search of gold. Colorado’s Economy Is Thriving, but Not Everyone Is Benefiting As a result, anxiety persists about the future of the middle class-not only in struggling rural counties in the Eastern Plains and the Western Slope but also among the highly educated populations in the urban areas of the Front Range. ![]() And even as jobs become available, a middle-class lifestyle remains difficult to obtain or sustain because incomes are not growing as fast as the costs of healthcare, housing, childcare, education, and other monthly expenditures. Disparities across educational, geographic, ethnic, and generational lines persist. This reexamination should consider the extent to which economic growth is inclusive and whether earnings are keeping pace with household costs.Ĭolorado’s economy has been growing and diversifying for the last century and has taken quantum leaps forward since the 1970s. The data collected reveal the need for foreign policy professionals and their domestic counterparts to reexamine the analytical framework they use to define and advance national economic interests. Even in a comparatively healthy economy like Colorado, the middle class faces pressing economic challenges. While high growth rates and low unemployment rates are important indicators, those interviewed made clear that these statistics are insufficient to gauge how the middle class is faring. foreign policy is to advance Americans’ economic well-being.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |