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DENVER – The Colorado Chamber of Commerce and Aspen Technology Labs (ATL) today released their jobs report for the third quarter (Q3) of 2024. Utilizing ATL’s database of more than 9 million job vacancies worldwide from over 170,000 companies, the report provides real-time workforce and jobs data to better understand Colorado’s economic landscape.
Following a relatively stable jobs landscape in Q2, data remained steady into the third quarter. Colorado job vacancies saw a marginal decrease of 0.2%. Colorado’s national standing remained consistent as Colorado ranked 19th in total vacancies and 14th per capita in vacancies, which is unchanged from the previous quarter.
The median wage for open positions increased by 3.9%, which recovered from a 1.4% decline in Q2. Colorado’s national standing moved up two spots from the previous quarter, going from 15th in the nation for highest median salaries to 13th.
“Combined with other metrics on Colorado’s economy suggesting improved inflation and low unemployment, we’re seeing positive signs for the statewide business community,” said Colorado Chamber President and CEO Loren Furman. “We’re hopeful that this report indicates continued stability for employers as the Colorado Chamber looks to advance meaningful policies to strengthen our state’s economic climate heading into 2025.”
“These figures provide critical insights that can help businesses and policymakers refine their workforce strategies and stay competitive in the evolving job market,” said Michael Woodrow, President and Founder at Aspen Technology Labs. “If you’d like to see specific trends or data included in our final report of the year, please reach out – we’d love to incorporate your feedback.”
From a regional perspective, the most significant change in job postings occurred in the Rifle and Roaring Fork Valley area, which reported a notable 28% increase in vacancies in Q3. The vast majority of these new vacancies came from the health care industry. The largest reduction in job vacancies was seen in Fort Collins and Boulder, which saw declines of 7% and 5% respectively. Denver, Boulder and Colorado Springs continue to offer the highest median salaries in the state at $59,363, $58,240 and $57,772 respectively.
The accounting sector in Colorado showed significant growth in job openings with an increase of 31%, making it the top sector in job vacancy growth for Q3. This is a jump from Q2, where the accounting sector ranked third for industry growth at a 16% increase in vacancies.
To view the Q3 jobs report, please visit: https://cochamber.com/wp-content/uploads/Colorado-Chamber-of-Commerce-2024-Q3_v2.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.