The most recent monthly jobs report from the Colorado Department of Labor and Employment shows the seasonally adjusted unemployment rate for April in the Greater Denver area was 4.2 percent, up 0.3 percentage points from the previous month. In April, 2,000 Denver jobs were lost. The state of Colorado’s April seasonally adjusted unemployment rate of 4.2 percent aligns with Denver’s unemployment rate, but the state added 4,200 nonfarm jobs that month.
What does the slight increase in Denver unemployment mean for employers in the area?
“In spite of the increased Denver unemployment rate, we’re still seeing employers looking to staff many positions, especially in the IT sector,” notes Dan McMahon, branch manager of Robert Half Technology in Denver. In fact, a recent Robert Half Technology survey reported that 91 percent of Denver chief information officers (CIOs) planned to hire in the second half of 2015, with 20 percent adding new roles and 71 percent looking to staff vacated positions. “Additionally, we’re seeing a demand for talented entry-level professionals in IT, accounting, administration and the legal field,” McMahon says.
Increased demand naturally leads to increased competition for top talent among employers. How can you make your firm stand out? “Remember that most entry-level positions will be staffed by Millennials,” suggests McMahon, “In order to attract the highest level of talent in any sector, you need to sell your company in a way that speaks to this generation.” That means offering competitive starting salaries, as well as touting the benefits of your corporate culture and opportunities for skills training, mentorships and career development. And don’t forget to mention the perks your organization might offer, such as telecommuting options, flextime or reimbursement for travel costs associated with professional conferences.
How does the most recent Denver jobs report affect your hiring plans? Let us know in the comments.