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Colorado Tech Employment Grows by 10,000 Net New Jobs

Apr 21, 2020

CompTIA Cyberstates 2020™ report reveals tech’s impact in the Centennial State

Denver – Information technology (IT) employment in Colorado grew by more than 10,000 net new jobs in 2019, capping a decade in which the state’s tech-related labor force expanded by nearly 67,000 workers, according to Cyberstates 2020™, the definitive guide to the U.S. tech industry, occupations and trends published annually by CompTIA, the leading trade association for the global IT industry.

Net tech employment increased by an estimated 10,188 workers in 2019, up 3.4% over 2018.[1] Only the state’s professional services industry surpassed tech in the number of new jobs added last year.

The Denver metro area added 7,342 tech-related positions in 2019, more hiring than any other industry in the market.

From 2010 through 2019 tech employment in Colorado grew by 28%. Tech workers make up an estimated 10.5% of the state’s workforce.

At nearly $50 billion the tech sector accounts for an estimated 14.3% of the state’s total economy, a higher percentage than any other industry. The percentage is also the fourth highest among all states and the District of Columbia, while the dollar amount ranks 12th nationally.

“Technology powered job growth and economic gains in the past decade in Colorado and across the county while delivering countless benefits in how we work, communicate, create and share,” said Todd Thibodeaux, president and CEO of CompTIA.

“Looking ahead, the need for professionals from all backgrounds to develop, support, and protect these technologies will continue to grow,” Thibodeaux added. “In these trying times it is often difficult to think beyond today, but we must remain committed to preparing the workforce of tomorrow for success in whatever the future may hold.”

Colorado ranks ninth nationally in both the total number of new jobs added in 2019 and the year-over-year percentage change in tech employment in 2019, and 15th in total net tech employment.

“The labor market for technology professionals was extremely tight during 2019, with unemployment nationwide at historic lows throughout periods of the year,” said Tim Herbert, executive vice president for research and market intelligence at CompTIA. “This speaks to the broad-based demand for tech talent across regions, industries and employers looking to capitalize on innovation that was once in the realm of science fiction, but increasingly reality.”

In fact, positions in emerging technologies accounted for 16.4% of all tech job postings in Colorado last year.

More from Cyberstates 2020

  • The estimated median tech occupation wage in Colorado is $92,251. That is 92% higher than the median wage for all occupations in the state.
  • Net tech employment in the Denver metro area increased by 35% from 2010 to 2019, with nearly 49,000 jobs added to the economy.
  • The tech sector’s contribution to the Denver region’s economy is $32.1 billion, or about 15% of total economic output and more than any other industry.

Cyberstates 2020 is based on CompTIA’s analysis of data from the U.S. Bureau of Labor Statistics, U.S. Bureau of Economic Analysis, Economic Modeling Specialists International (EMSI), Burning Glass Technologies, Hoovers and other sources.

Visit https://www.cyberstates.org/ for the latest data on the economic and employment impact of the U.S. tech industry.

About CompTIA
The Computing Technology Industry Association (CompTIA) is a leading voice and advocate for the $5.2 trillion global information technology ecosystem; and the estimated 75 million industry and tech professionals who design, implement, manage, and safeguard the technology that powers the world’s economy. Through education, training, certifications, advocacy, philanthropy, and market research, CompTIA is the hub for advancing the tech industry and its workforce. Visit www.comptia.org to learn more.

Contact:

Steven Ostrowski
CompTIA
630-678-8468
sostrowski@comptia.org­
www.comptia.org

 



[1] Net tech employment is a measure developed by CompTIA to encompass the two components of the tech workforce: employment within the tech industry and tech employment across all other sectors of the economy.

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Fast Facts

  • $1.8 trillion – Estimated direct economic impact of the U.S. tech industry, representing 10.2% of the national economy.

  • 525,500 – Number of tech business establishments in the U.S.

  • 11.8 million – U.S. net tech employment at the end of 2018.

  • 89,500 – Estimated number of new jobs added by the U.S. tech sector through the first eight months of 2019.

  • 6 – Rank of tech in U.S. job creation since 2010 among the top 22 occupation categories.