To survive, he said the changing workforce would have to become a more educated workforce.
"There are going to be changes that require new skills," Clouse explained. "The jobs are changing, and if we don't make the changes, it's not going to work for us either."
"I'm not getting paid enough so what do I do, and it doesn't seem like there's any legislation being built for the people so we can get to where we need to," said Adams.
Other key takeaways from the report: Colorado is growing older and more diverse, it estimates Hispanics will make one-third of the state's population by 2050 and affordable housing is a top concern for Coloradans.
Clouse also said Amazon's HQ2 could also have a big impact on wage growth if Denver is chosen for its second headquarters.
"It definitely would push it up because they are talking about bringing in about 50 thousand employees perhaps and those are high wage employees," he said.