Understanding the Unemployment Rate in Colorado
It’s no secret, the State of Colorado has experienced great growth with many new residents and our expanding economy in the last several years. Large companies and startups alike have found this place a great place to stake a claim and center operations. There are many benefits of a strong economy, including a generally low unemployment rate in Colorado and the need for a skilled workforce.
In fact, the unemployment rate in Colorado was just 2.9% as of April 2018. This is down significantly from a high of 8.9% in October of 2010, in the wake of the Great Recession. Currently, the national unemployment rate is sitting at 3.9%, meaning Colorado is faring much better than the average state, as you can see in the following graph:
In Colorado, workers in all industries earned an average hourly rate of $28.24 as of January 2018. This is up from an average of $27.42 in January of the previous year. This is compared to a national average of $24.57 across all sectors. While the average wage is higher, it’s important to note that the cost of living in Colorado is also on the rise.
Just because the unemployment rate in Colorado is low doesn’t mean it’s always easy to get a job or find the talent companies need. In Colorado, the tech sector is among the fastest growing in the state, with many businesses and startups relocating or launching here. Our state is in great need of skilled workers to fill these roles to help businesses continue to grow. The low unemployment rate in Colorado and the growing need for trained staff are helping to drive up our strong, but competitive job market, wages, and cost of living.
Many employers have experienced this squeeze, as the unemployment rate in Colorado remains low. One of the best ways for employers and business owners to resolve this problem is to train and invest in your existing staff. Not only are they already proven and loyal, you don’t have to compete with others to attract them. Furthermore, by providing your staff with educational opportunities, they will be more likely to stay with your company long term. If you find yourself in this position, consider enrolling your employees in one of our many courses and programs to give them the skills they need to help you grow and transform your business in this digital day and age. We offer group and individual trainings in a variety of areas including digital marketing, computer skills, web design, and more. Learn more about how you can upskill your staff at the Digital Workshop Center; we offer classes in both Fort Collins and Denver, Colorado, as well as online.
If you find yourself unemployed in Colorado, consider adding new skills to your resume by taking one of the many classes at the Digital Workshop Center. We offer a variety of Certificate programs, bootcamps, and stand-alone classes that include training in high-demand, high-growth areas, including web design, graphic design, digital marketing, business administration, and digital photography. By joining our classes, you’ll gain the skills you need to enter the workforce and land a career in one of the many rapidly growing industries in Colorado. Learn more about our programs and financial aid options; please contact us with any questions or to get started!
The Digital Workshop Center is designed to provide solutions for both employers and job seekers. We offer job seekers the training required to help you build your resume and ultimately land a job in this competitive market. We help businesses train their existing staff and give them the skills they need to help their business grow and adapt, in spite of the low unemployment rate in Colorado. Our state is in need of highly skilled technical workers, and the Digital Workshop Center in Fort Collins and Denver, Colorado, is here to help. Contact us today to get started!