The job market in El Paso and Teller counties has rebounded impressively from the pandemic, according to data from the Colorado Department of Labor and Employment. The region has recovered 125.8 percent of the jobs lost as a result of the pandemic, as of this July.
The agency bases its geographic statistics on Metropolitan Statistical Areas (MSA). The Colorado Springs MSA is one of seven in the state. It's made up of El Paso and Teller counties.
Cecilia Harry is the chief economic development officer at the Colorado Springs Chamber and Economic Development Corporation. She says the Pikes Peak region is home to a lot of industries that aren't as affected by economic challenges, like the military, aerospace and cyber security.
"We have a lot of major employers in that space and because of what they do to keep us safe and protected as a country, no matter what's going on with the economy, we tend to see those industries, weather economic challenges better."
Harry said her office is continually working to remove barriers to growth and support existing businesses.
"We are incredibly busy right now working with existing businesses that are telling us they want to grow and they want to create more jobs," Harry said. "And we are incredibly busy with companies that are not in our market yet, but are strongly considering investing here."
And while the region has shown resilience when it comes to making up for job losses due to COVID, it lagged behind the Grand Junction area in job recovery. The Western Slope gained back all of the jobs lost to the pandemic a month before El Paso and Teller counties.
On a national level, the Colorado Springs MSA ranks as the 65th fastest recovery. The Logan, Utah MSA currently has the fastest recovery rate at 294.1 percent, according to the Colorado Department of Labor and Employment
