The job market is forever changing, and you may be asking yourself, how do I keep up? There’s so much data, what does it all mean? Here is some helpful insight on what you need to know about the job market in Colorado Springs.
According to the U.S. Bureau of Labor Statistics, the unemployment rate in Colorado Springs reached an all-time high in January 2011 of 9.9 percent, compared with the rest of the country at 9 percent. In September 2018, the U.S. unemployment rate dropped to 3.7 percent, its lowest since 1969, but Colorado Springs’ unemployment is still higher than the national average at 4.1 percent. So why is the unemployment rate in Colorado Springs higher? One could argue the increase is caused by an influx of new residents and they might not be employed right away, therefore contributing to higher unemployment.
A Brookings Institution study on U.S. Population looked at The Millennial Generation, and discovered Millennials are moving to Colorado Springs at the highest rate in the country. Just this past April, U.S. News & World Report named Colorado Springs second-best place to live in the country, with Denver close behind at number three. So, why are more people moving here? Besides the scenic mountain views, gorgeous weather and abundance of outdoor activities, here are a few other reasons people are choosing Colorado Springs over other areas:
- Cost of Living – while the overall cost of living in Colorado Springs is slightly higher than the national average, residents spend less than average on groceries, utilities and transportation. Colorado Springs offers a better value than similarly sized metro areas when you compare housing costs to median household income.
- Job Market – Some of the top industries in the Colorado Springs job market include Health Care and Social Assistance, Accommodation and Food Services; and Professional, Scientific and Technical Services. Our culture and economy are heavily influenced by corporate and military presence. Businesses are attracted to Colorado Springs’ business environment, educated and talented workforce and low operating costs.
The construction industry is booming across Colorado, yet currently we are experiencing a shortage of skilled labor, despite a civilian work force of 355,492. According to to The Gazette, Colorado’s skilled labor shortage could become even worse in the next few years: “Labor shortages are expected to hinder the state’s economic growth this year, according to the Colorado Business Economic Outlook 2018 released last month by the Leeds School of Business at the University of Colorado at Boulder.”
The Tech industry is also booming in Colorado and we’re seeing a surge of job creation. A study done by The Computing Technology Industry Association names Colorado Springs in the top 20 due to job opportunities for IT workers. In 2016, Gov. John Hickenlooper approved funding to support renovations to a former satellite plant to house a National Cyber Security Center owned by the University of Colorado at Colorado Springs.
Goodwill Staffing has extensive experience representing the Administrative, Accounting, Construction, Engineering, Maintenance, Manufacturing, Transportation, Warehouse and Retail industries, among others, in addition to a wide range of general labor jobs. We also offer one of the most innovative and successful temp-to-hire conversion programs in the business. If you’re a skilled laborer seeking a direct hire opportunity or looking for seasonal employment, visit our Job Opportunities page to see available positions.