Denver Plants Seeds for Job Growth

There’s great news for Denver employers and job seekers! The Colorado Department of Labor and Employment reported that the unemployment rate for the state in April fell to its lowest rate since June of 2001 at 3.5%. This is especially good news for individuals considering relocating to the Denver area.

The fall in the unemployment rate is attributed to a number of new and exciting developments on the horizon for the Denver job market, including the arrival of new companies. More and more businesses are opening offices in the Denver area which has helped to stimulate the job market and create hundreds of new jobs. One measure that’s making Denver an even more attractive place to relocate for business is an innovative economic-incentive package offered by the state. One of the recipients of the package is The Revere Group, just one of several companies to recently relocate to Denver. Packages like this can manifest in the form of training and job-creation incentives worth up to $2,500 per employee, a huge benefit to new companies in the area.

Other statistics indicate a favorable job market in the Denver area as well. According to the Denver Post, the city has experienced tremendous job gains in the sectors of professional and business services and government. The professional and business service sector led gains with 2,300 jobs, while government followed behind with 1,900, primarily in local government offices. Moreover, 700 new jobs were created in education and health services. The recent increases in the number of jobs across a variety of industries in April put the non-farm workforce in Denver at 2.32 million, according to seasonally adjusted figures.

In addition to the bolstered job market, job seekers in Denver have another reason to cheer! A new training center opened by the Denver Office of Economic Development is a significant development. The center will provide invaluable training needed to succeed in the workforce and is the largest training facility offered through Denver’s system of five workforce development and training centers. Equipped with three classrooms and a lab area, the center is projected to serve approximately 500 residents monthly.