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DENVER — The Colorado Chamber of Commerce and Aspen Technology Labs (ATL) today released their jobs report for the fourth quarter (Q4) of 2023. The report provides real-time workforce and jobs data to better understand Colorado’s economic landscape. For the last quarter of 2023, the report also provides job market insights for the full year.
In 2023, Colorado ranked 10th in the nation for the highest number of job vacancies per capita with a weekly average of 117,224 job openings across the state. Overall, job vacancies in Colorado decreased by 7.3% since the beginning of 2023 – this is slightly above the national average, which saw a total decline of 8.8%.
“While employers continue to see more stability in the labor market heading into 2024, finding talent is still a critical challenge for Colorado businesses,” said Colorado Chamber President and CEO Loren Furman. “The Chamber remains focused on long-term workforce initiatives to improve Colorado’s economic growth and ensure we remain a desirable place to live, work and do business for years to come.”
“In collaboration with the Colorado Chamber, we are pleased to present our final report for 2023, which includes insightful data from Q4 and a full-year look-back on the state of Colorado’s job market,” said ATL President and Founder Mike Woodrow. “This report showcases the stability in the market as a positive force for employers entering 2024. Our data-driven insights reveal a market resilience that positions Colorado businesses favorably. As we navigate the challenges of the past few years, this stability becomes a valuable asset for employers, empowering them to make strategic decisions that will uphold their competitiveness.”
Notably, health care industries in Colorado saw the most significant need for talent in 2023. Registered nurse was the top job when it comes to overall number of vacancies across the state, with a total of 48,000 open jobs this year. Radiology technologists experienced the largest growth in job openings in Colorado for the year, with over 3,500 total jobs posted and a growth of nearly 75% in 2023.
While salaries slightly increased in Colorado for the year (+0.4%), Q4 saw a reduction of 3.5% in median full-time wages in job postings, from $57,200 to $55,224. Despite this decline, Colorado’s rank jumped from 11th to 8th for highest median salary nationwide in the fourth quarter of 2023.
Jobs data at the local level varied across Colorado for Q4. The most significant change in job vacancies occurred in Grand Junction and Montrose, which saw an increase of 7% and 6% respectively. The largest reduction in job postings was seen in the Denver area which reported a 5% decrease in vacancies. The Denver, Colorado Springs and Boulder areas continue to offer the highest full-time salaries statewide, with median salaries of $59,998, $58,989, and $58,240 respectively.
The Colorado Chamber and ATL recently launched a real-time salary explorer widget, where users can search median salaries for job titles in Colorado cities and find a preview of companies hiring for those roles. View the Colorado salary explorer here: https://cochamber.com/colorado-salary-explorer/.
To view the full Q4 jobs report, please visit: https://cochamber.com/wp-content/uploads/Colorado-Chamber-of-Commerce-Q4-Report-final.pdf
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The Colorado Chamber of Commerce champions free enterprise, a healthy business environment and economic prosperity for all Coloradans. It is the only business association that works to improve the business climate for all sizes of business from a statewide, multi-industry perspective. What the Colorado Chamber accomplishes is good for all businesses, and that’s good for the state’s economy. It was created in 1965 based on the merger with the Colorado Manufacturers’ Association.
Aspen Technology Labs is a global leader in web data management services and recruitment technology founded in 2008. The company is headquartered in Aspen, Colorado with teams throughout the U.S. and Europe. Aspen Technology provides web scraping, business intelligence, and data/analytics services for a wide variety of industries. Over 12 million job seekers use the company’s technology each year to find jobs and improve the lives of their families.