Denver has seen continued economic improvement in 2015 that has led to an increase in new businesses and job growth. As this trend continues in 2016, companies will see more millennials in the job market and hiring trends in construction, healthcare, business and hospitality.
Metro Denver Employment Increase
Denver has seen higher-than-average job growth in 2015 and Metro Denver saw over 40,000 new jobs. Since 60 percent of Colorado’s employment is in Metro Denver, a three percent employment increase shows sustainable growth for the region.
Most of these new jobs are in construction, healthcare, hospitality and business as new companies continue to launch in Denver. Denver has been rated the second best city for entrepreneurs and startups, which encourages new launches in the area.
Millennials Are Largest Population Group
As companies are looking to replace their aging workforce, millennials are entering the job market. Millennials are the largest population group in Denver, and will continue to be the largest source of candidates in 2016 and beyond.
Small Candidate Pool Offers Opportunities
The sustainable economic growth has increased the number of open positions, especially in business, hospitality, construction and healthcare. If your organization is seeking candidates in these fields in 2016, you may find that the candidate pool is smaller than it has been over the last several years.
However, as more millennials enter the job market, your company will be able to tap into this resource to find candidates who will be able to replace your baby boomer employees.
The active entrepreneurial community will attract more job seekers to the Denver area, offering companies the opportunity to attract candidates who seek the challenge of working for a startup. This will help your company by injecting energy and creativity into the company.
If you are seeking new candidates for 2016, then contact us. Our experts will help you understand hiring trends and leverage them to your company’s advantage.