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Industry_Snapshot_Report_Accommodation_and_Food_Services_in_Eagle_County_CO_8854 Industry Snapshot Report Accommodaon and Food Services in Eagle County, CO Colorado Workforce Intelligence Data Experts 633 17th Street, Suite 900 Denver, Colorado 80202 Emsi Q4 2021 Data Set | www.economicmodeling.com Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 Contents What is Emsi Data? Report Parameters Workforce Map Execu"ve Summary Supply (Jobs) Demographic Details Demand What skills are they pos"ng for? Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com What is Emsi Data? Emsi data is a hybrid dataset derived from official government sources such as the US Census Bureau, Bureau of Economic Analysis, and Bureau of Labor Sta"s"cs. Leveraging the unique strengths of each source, our data modeling team creates an authorita"ve dataset that captures more than 99% of all workers in the United States. This core offering is then enriched with data from online social profiles, resumés, and job pos"ngs to give you a complete view of the workforce. Emsi data is frequently cited in major publica"ons such as The Atlan c, Forbes, Harvard Business Review, The New York Times, The Wall Street Journal , and USA Today . Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com 1 1 Industry 1 County Class of Worker QCEW Employees, Non-QCEW Employees, and Self-Employed The informa"on in this report pertains to the chosen industry and geographical area. Report Parameters 72 Accommoda"on and Food Services 8037 Eagle County, CO Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com 2 Workforce Map Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com 3 Eagle County, CO is a hotspot for this kind of talent. The na"onal average for an area this size is 2,469* employees, while there are 6,187 here. Earnings per job are above the na"onal average. The na"onal average salary for Accommoda"on and Food Services in an area this size is $26,382, while in Eagle County, CO it is $45,508. Earnings per jobs is the total industry earnings divided by the number of jobs in the industry. Compe""on from online job pos"ngs is high in Eagle County, CO. The na"onal average for an area this size is 156* job pos"ngs/mo, while there are 878 here. Execu"ve Summary Aggressive Hiring Compeon Over a Deep Supply of Regional Talent *Na"onal average values are derived by taking the na"onal value for Accommoda"on and Food Services and scaling it down to account for the difference in overall workforce size between the na"on and Eagle County, CO. In other words, the values represent the na"onal average adjusted for region size. 6,187 Supply (Jobs) $45,508 Earnings Per Job 878 Demand (Job Posngs) Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com 4 Supply (Jobs) Supply Is Higher Than the Naonal Average The regional vs. na"onal average employment helps you understand if the supply of Accommoda"on and Food Services is a strength or weakness for Eagle County, CO, and how it is changing rela"ve to the na"on. An average area of this size would have 2,469* employees, while there are 6,187 here. This higher than expected supply may make it easier to find candidates. The gap between expected and actual employment is expected to remain roughly the same over the next 5 years. -20% Past Growth (2015 - 2020) 10% Projected Growth (2020 - 2025) *Na"onal average values are derived by taking the na"onal value for Accommoda"on and Food Services and scaling it down to account for the difference in overall workforce size between the na"on and Eagle County, CO. In other words, the values represent the na"onal average adjusted for region size. Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com 5 Re"rement risk is high in Eagle County, CO. The na"onal average for an area this size is 886* employees 55 or older, while there are 1,037 here. Racial diversity is low in Eagle County, CO. The na"onal average for an area this size is 2,787* racially diverse employees, while there are 2,003 here. Gender diversity is low in Eagle County, CO. The na"onal average for an area this size is 3,339* female employees, while there are 2,894 here. Rerement Risk Is High, While Overall Diversity Is Low *Na"onal average values are derived by taking the na"onal value for Accommoda"on and Food Services and scaling it down to account for the difference in overall workforce size between the na"on and Eagle County, CO. In other words, the values represent the na"onal average adjusted for region size. Unemployment Rate Trends Unemployment shown at the 2-digit sector level. Jan 2017 Jan 2018 Jan 2019 Jan 2020 Jan 2021 500 1,000 1,500 2,000 2,500 3,000 Industry Unemployment1,037 Rering Soon 2,003 Racial Diversity 2,894 Gender Diversity Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com 6 Demographic Details Industry Age Breakdown Industry Race/Ethnicity Breakdown % of Jobs Jobs A 14-18 4.2% 258 A 19-24 11.8% 733 A 25-34 30.3% 1,874 A 35-44 21.5% 1,332 A 45-54 15.4% 953 A 55-64 10.7% 661 A 65+6.1% 375 % of Jobs Jobs A White 67.6% 4,184 A Hispanic or La"no 22.7% 1,402 A Asian 4.5% 281 A Black or African American 3.2% 197 A Two or More Races 1.2% 75 A American Indian or Alaska Na"ve 0.5% 33 A Na"ve Hawaiian or Other Pacific Islander 0.3% 16 Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com 7 Industry Gender Breakdown Most Jobs are Found in the Food Preparaon and Serving Related Occupaons Industry Sector % of Jobs Jobs A Males 53.2% 3,293 A Females 46.8% 2,894 Occupaon % of Industry in Occupaon (2020) A Food Prepara"on and Serving Related Occupa"ons 56.6% A Building and Grounds Cleaning and Maintenance Occupa"ons 13.9% A Office and Administra"ve Support Occupa"ons 7.5% A Sales and Related Occupa"ons 4.7% A Management Occupa"ons 3.8% A Installa"on, Maintenance, and Repair Occupa"ons 3.4% A Other 10.0% Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com 8 Demand 171 Employers Compeng All employers in the region who posted for this job over the last 12 months. 4,332 Unique Job Posngs The number of unique pos"ngs for this job over the last 12 months. 35 Day Median Duraon Pos"ng dura"on is 11 days longer than what's typical in the region. Vail Resorts, Inc.1,550 HyaN Hotels Corpora"on 387 East West Hospitality 272 The Ritz-Carlton Hotel Company LLC…271 MarrioN Interna"onal, Inc.259 Top Companies Unique Posngs Front Desk Agents 111 Housekeepers 111 Maintenance Technicians 84 Housepeople 64 Lodge Managers 55 Top Job Titles Unique Posngs Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com 9 Industry Gain and Drain Reliable Gain and Drain informa"on is not available for the currently selected industry. Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com 10 What skills are they pos"ng for? Top 15 Skills for All Job Types by Quarter Skills help us understand the direc"on an industry is headed. Aug 2020 - Oct 2020 Nov 2020 - Jan 2021 Feb 2021 - Apr 2021 May 2021 - Jul 2021 Aug 2021 - Oct 2021 Restaurant Opera"on Restaurant Opera"on Restaurant Opera"on Restaurant Opera"on Sanita"on Sanita"on Sanita"on Sanita"on Cash Handling Cash Handling Cash Handling Cash Handling Safety Training Safety Training Safety Training Safety Training Accoun"ng Accoun"ng Accoun"ng Accoun"ng Resolving Guest Concerns Resolving Guest Concerns Resolving Guest Concerns Resolving Guest Concerns Cooking Cooking Cooking Cooking Audi"ng Audi"ng Audi"ng Audi"ng Loss Preven"on Loss Preven"on Loss Preven"on Loss Preven"on Food Services Food Services Food Services Food Services Career Development Career Development Career Development Career Development Gree"ng Guests Gree"ng Guests Gree"ng Guests Gree"ng Guests Front Office Front Office Front Office Front Office Food Prepara"on Food Prepara"on Food Prepara"on Food Prepara"on Point Of Sale Point Of Sale Point Of Sale Point Of Sale Gross Regional Product (GRP) $295.4M $102.4M $67.0M $464.8M Earnings (2020)Property Income (2020)Taxes (2020) Total GRP (2020) Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com 11 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 $400M $500M $600M Gross Regional ProductIndustry Requirements Corporate, Subsidiary, and Regional Managing Offices $10,671,186 $52,636,840 $63,308,027 Lessors of Residen"al Buildings and Dwellings $10,911,655 $431 $10,912,086 Offices of Real Estate Agents and Brokers $8,531,661 $1,184 $8,532,845 Lessors of Nonresiden"al Buildings (except Miniwarehouses) $7,123,512 $8,691 $7,132,203 Electric Power Distribu"on $570,444 $6,124,783 $6,695,228 Purchases from In-region Purchases Imported Purchases Total Purchases Industry Snapshot Report Emsi Q4 2021 Data Set | www.economicmodeling.com 12