Relatively low oil prices have led to four months of job losses in Colorado's mining and logging sector, an employment category made up predominantly of oil and gas numbers. That's according to the May jobs report analysis from the LEEDS School of Business at the University of Colorado at Boulder.
But it's not clear yet how that industry’s slowdown is affecting other parts of the economy, says the organization's Brian Lewandowski.
“What other goods and services are they buying within the state? And so that’s what we’re trying to watch within these heavy oil and gas corridors within Colorado,” explained Lewandowski.
The latest jobs report from the state showed Colorado gained 5,000 jobs in May despite the energy slowdown. So far this year, Colorado has seen some of the strongest job growth in the construction industry.
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