Denver’s job market has been ranked among the top five in the nation, according to a recent study conducted by HR and payroll solutions provider ADP. The study analyzed data from 55 U.S. metro areas with populations over 1 million, focusing on new-hire wages, annual pay growth, and hiring rates. Denver stood out alongside Oklahoma City, Las Vegas, Seattle-Tacoma, and Portland as one of the best-performing labor markets.
Colorado Governor Jared Polis praised the findings, highlighting the state’s efforts to strengthen its workforce through job and training opportunities, housing cost reduction, tax cuts, and a favorable business environment. The study revealed that Denver saw a 5.8% growth in median annual pay in the last year, with a median pay for new hires at $19 an hour and a monthly hiring rate of 4.5%.
The Denver labor market excelled in industries such as construction, professional services, and manufacturing, with strong performances in information and natural resources sectors. The city saw significant pay growth and high hiring rates in these industries, positioning itself as a top job market nationally.
ADP, a global leader in human resource management solutions, provided valuable insights into labor market trends and employment data through their research. The study’s findings underscore Denver’s status as a thriving job market with opportunities for both job-stayers and job-changers. Governor Polis’ administration’s efforts to support workforce development and economic growth have further solidified Denver’s position as one of the nation’s hottest job markets.
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