Employers in Colorado Springs anticipate giving workers a 2.1 percent salary increase next year, according to an annual survey from the Mountain States Employers Council.
That’s lower than the state average of 2.5 percent, but projected increases are higher than those predicted for 2010 and 2011.
Nearly 500 employers participated in the survey and represented several industries – government, manufacturing, natural resources, nonprofits, technology, financial, insurance, health care, retail, service, construction and utilities.
“Pay projections are always a hot topic and the good news is that employers continue to look positively on annual salary increases for next year,” said Patty Goodwin, the Council’s survey director. “Our hope is that Colorado business leaders incorporate the projections from our annual survey into their total compensation planning.”
Employers in metro Denver, including Boulder and northern Colorado, project a 2.6 percent increase next year, the highest in the state. Colorado Springs, Pueblo and resort areas were at the lowest end, with 2.1 percent increases. The western slope employers estimate they will pay employees 2.3 percent more in 2013.
Oil and gas employers forecast a 4.2 percent, while retail businesses predict 3 percent increases. In 2008, those employers said they would be giving 7.2 percent and 3.7 percent respectively.
Lowest salary increases go to public sector and construction workers – government workers will only get a 1.9 percent increase and construction workers will receive 2.3 percent.
Natalie Mullis, chief economist for the Colorado State Legislative Council, said Colorado employment is outpacing the nation.
“We saw an acceleration in Colorado employment during the beginning of the year,” said Mullis. “We can thank consumer spending for a portion of this improvement – through February, it was increasing at an annual rate of around 7 percent. Businesses and households are concerned about global economic conditions and federal fiscal policy, however, and employment growth in Colorado is expected to moderate over the rest of the year.”