Written by Matt Ritter:
In October 2010, more than 243,000 unemployed people were actively looking for a job in Colorado. In May 2018, only 85,095 people were actively looking for work, (out of a labor force of 3.06 million).
Despite Colorado’s low unemployment, job growth in Colorado is on track to add 70,000 new jobs in 2018. Seemingly, making Denver a great place to move if you are seeking employment. In fact, it appears Colorado employers relied heavily on people moving here to fill openings in the past.
Now employers are using different strategies to find new talent and to retain current employees.
To improve retainment, employers may offer a 401k with a match, retirement options, giving part-time workers full-time jobs, training workers in new skills, and even adjusting the culture of the company so employees want to turn their job into a career.
Statistics show that retaining a quality employee cost less than hiring new. Employers in Denver are also engaging people who were once considered unemployable.
“After last decade’s recession, there were six unemployed workers for every job opening. Now, the ratio is about 1 to 1 and in states like Colorado, there are more open positions than people looking”, Gedney said in the attached article.
“We are seeing a pattern of increased job openings being posted and a decrease of traffic through the workforce centers,” said Tony Anderson, director of Denver Workforce Services.
The attached article also identifies which sectors will need the most new employees through 2026.
If you are looking for a job that may eventually turn into a career, Colorado might be a great option.
And if you think commercial real esate may be in your future, Western Investor Network is always looking for brokers. Whether seasoned or new to the industry, you will find support and camaraderie at WIN.
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