Colorado has the third-best state economy, according to a report by Business Insider. North Dakota, Texas and Colorado are the top three states in the U.S., and Colorado residents, who are used to hearing good news about their state, can see in the report that this trend will continue. Colorado business owners can also feel more comfortable if they are considering hiring new employees or growing their business in the state.
Three main job sectors have helped to spur the Colorado economy. Oil and mining are big in Colorado, as is telecommunications and transportation. These three industries are responsible for much of the job growth and wealth in the state.
Business Insider looked at six different factors when they created their report. These factors include unemployment rate, GDP, average weekly wage and changes in housing prices. Local reports have already commented on the rise in the building of new homes and the increase in home value over last year. These factors affect consumer confidence and make people believe that Colorado is a great place to live and work.
This is great news for Colorado businesses. More consumer spending means that companies that have been looking to grow can now do so without fearing a lackluster sales report. Qualified candidates are more likely to stay in Colorado due to job opportunities and businesses can find great people for their new positions.
Growth inspires more growth, and as the Colorado economy continues to grow, so will local economies and company profits. If your company is looking to grow in order to take advantage of the booming Colorado economy, then contact us, your most trusted recruiters in Aurora, Denver, Broomfield, and Colorado Springs. At Job Store, we can help you with seasonal employment or finding qualified long-term candidates. Learn about our staffing solutions to determine what services would best serve your company’s current needs.