COLORADO SPRINGS, Colo. (KOAA) — A new report from the Colorado Chamber Foundation and Aspen Technology Labs shows Colorado’s job market is holding steady, even as some regions see sharper shifts in job vacancies.
Job vacancies are down less than 1%, but experts say the decline is actually a sign of stability.
“Too many job postings could mean that we maybe don’t have the talent that we need in Colorado to fill the jobs," Rachel Beck, Colorado Chamber Foundation Executive Director said. "Too few job postings means that maybe businesses aren’t growing and there aren’t a lot of opportunities for Colorado workers.”
According to the report, Colorado is ranked 24th in job vacancy growth among all states. Beck says the "middle of the pack" placement is a good thing.
“When things stay fairly steady, that means the economy is doing really well," Beck said.
The median full-time salary in Colorado is $62,400. It is a nearly 1% drop from last quarter, but still 12th highest in the nation. Beck says this data benefits both job seekers and employers trying to attract them. However, it is also out of necessity given the state's current housing market.
"Colorado’s housing market is in the top five most expensive in the country," Beck said. “Our cost of living and our cost of housing in Colorado continue to grow and to be a challenge for workers and for employers.”
In Colorado Springs, the median full-time salary is above the national average at $64,594. Despite this, Pikes Peak Workforce Center Executive Director and CEO Traci Marques says job vacancies are about one-to-one in our region — one job opening for every one person looking for a job.
“What we’re seeing in the difference of the people that are looking for current jobs is the skill sets that they need to be able to apply for those jobs," Marques said. "The jobs that are available may not be the exact skill sets the person needs that wants to apply for those jobs.”
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According to Marques, data pulled by Pikes Peak is from August — delayed due to government shutdown. However, the organization’s most recent job fair is a good indication of local trends.
“We had 88 employers that attended the job fair," Marques said. "Of the employers that attended the job fair, we had almost 800 jobs seekers come to the job fair.”
Colorado Springs, Breckenridge, and Boulder saw job postings rise this quarter. Grand Junction and Rifle saw sharp double-digit declines.
“Colorado Springs beat the state trend by a little bit with a 2% increase in job vacancies, so a few more jobs in Colorado Springs," Beck said. "Some of those in security, engineering, and health care.”
Job vacancies trends at the regional level were mixed, with Breckenridge and Boulder experiencing a growth in job postings of 4% and 3%, respectively. Meanwhile, other regions saw significant declines, led by Grand Junction with a 24% drop and Rifle with a 20% decrease. Sterling, Denver and Alamosa reported the highest median salaries at $68,640, $66,560 and $66,144, respectively.
The Pikes Peak Workforce Center is seeing similar job availability.
“Registered nurses, truck drivers, someone with a CDL A or B license." Marques said. "We also look at computers and software engineer-type jobs, along with retail and hospitality jobs are what’s really available right now.”
Marques advises job seekers to focus on their skill sets in the application process.
"Problem solving, negotiation skills, what are the skills that you have and how do you transfer that into your next job," Marques said.
Beck encourages business owners to continue to hire, grow, and innovate.
"The data that we’re seeing indicates a nice steady economy, no warning signs of any issues," Beck said. "So they can keep doing what they do best.”
You can view the full job report here.
Email Senior Reporter Meghan Glova at meghan.glova@koaa.com.
Follow Meghan Glova KOAA on Facebook and @meghanglova on X.
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