Index Shows Colorado Job Growth Continuing

Date: August 14, 2015

AIM WorkForce July Index Shows Rise In Nursing, IT, Finance Jobs

According to the latest monthly WorkForce Index from Denver-based nonprofit AIM, in July Colorado saw continued employment growth. The state saw its Work Force Index rise to 66.4 for July from 65.9 in June. Anything above 50 on this index is considered a sign of job expansion, AIM noted. Colorado had the eighth-highest rate of job growth, the same as in June. The job expansion came despite a 3.9% decline in online job listings for the month. The areas that saw the largest increase in online job listings for the month were in the finance, nursing and IT sectors. The biggest percentage of job openings across Colorado were in finance, then engineering, then automotive sales and service. Some sectors experienced fewer job postings during the month – the insurance, transportation, and skilled manufacturing sectors saw the largest declines in listings. According to the Denver Post the state’s WFI ranking has been around 66 since March 2015. However, it reached a peak in October 2014 when it registered at 92.4. For July, Nebraska had the highest rate of job growth across the US, while Alaska had the lowest.

What This Means For Small Businesses

Denver’s small business owners should be find the latest Work Force Index data positive, as it provides an indication that Colorado’s economy is continuing to recover following the recession. However, as the data indicate, this recovery depends on the job sector examined, and demand for certain kinds of work exceeds demand for workers in other sectors. Ultimately, the state has work to do to fully recover from the recession and further boost its economy.

Additional Reading

NFIB previously noted Colorado job growth in 2015.

Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.

Related Content: Small Business News | Denver, CO | Economy

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