The latest workforce trends are looking bright for Colorado businesses as the number of job vacancies plunged 8% in the second quarter of 2023.
Fort Collins saw the most drastic change this quarter, with a 14% drop in job vacancies, followed by Boulder at 12%, Pueblo at 11% and Greeley at 9%, according to a jobs report by the Colorado Chamber of Commerce and Aspen Technology Labs publicized on Monday.
Alternatively, job postings jumped 3% in Durango since April 1 – the most sizable boost in vacancies for a listed Colorado city this quarter.
“These key workforce trends are a good indicator that more employment opportunities are available across the state and jobs are being fulfilled, which is critical for our job creators and the state’s economic health,” said Colorado Chamber President and CEO Loren Furman.
The good news for entrepreneurs comes as the economic forecast for the U.S. remains shaky for the rest of the year. Although inflation is finally easing up across the country, Denverites still feel a squeeze on their wallets.
About 90% pointed to inflation as impacting their finances, the Charles Schwab 2023 Modern Wealth Survey reports. Compared to the beginning of last year, 60% said they’re spending more on food and groceries, with 58% shelling out more cash for utilities.
Residents of the Mile High City pay almost 24% more in monthly bills — about $2,500 — than the average American, who spends closer to $2,000, according to bill management service doxo.
Job vacancies in Colorado
Colorado remains No. 9 in the U.S. for the highest average number of job vacancies per capita, according to the Colorado Chamber of Commerce’s jobs report. As of July 1, that number sat at around 110,500 vacancies, while it previously amounted to more than 120,000 in early April.
Oregon currently holds the No. 1 spot for largest decline in vacancies at 23%.
In the Centennial State, the occupation groups with the most vacancies include health care practitioners and technical occupations at around 13,600, sales at about 7,500 and office and administrative support at around 6,500.
A median annual salary for a full-time position in the state sat at $58,490, or a 2.5% drop from the first quarter of 2023. Colorado now ranks No. 13 in the nation for average salary, falling from No. 11 in Q1.
Three Front Range cities claim the highest median salaries: Boulder at $65,988, Denver at $60,320 and Colorado Springs at $60,164.
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