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Old 10-03-2019, 04:04 AM
 
Location: Colorado Springs
6,293 posts, read 6,783,742 times
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https://www.csbj.com/2019/10/02/colo...nt-rate-drops/

"Colorado Springs had an unemployment rate of 3.2 percent in August, a drop from July’s 3.4 percent rate and nearly a percentage point lower than the 4.1 percent unemployment rate posted in August 2018.

According to the monthly news release from the U.S. Bureau of Labor Statistics, Colorado Springs had a civilian labor force of 361,256 in August, while 11,522 people were unemployed.

Colorado Springs was among 192 metropolitan areas that had August jobless rates below the U.S. rate of 3.8 percent. The national unemployment rate, not seasonally adjusted, was essentially unchanged from a year earlier.

Unemployment rates were lower in August than a year earlier in 224 of the 389 metropolitan areas listed in the report. A total of 82 areas had jobless rates of less than 3 percent, while two areas had rates of at least 10 percent.

The Portland-South Portland, Maine, area had the lowest unemployment rate: 1.7 percent.

Yuma, Ariz., and El Centro, Calif., had the highest unemployment rates: 23.0 percent and 22.1 percent, respectively.

Workers in the Colorado Springs Metropolitan Statistical Area earned an average (mean) hourly wage of $24.73 in May 2018, about 1 percent below the nationwide average of $24.98, according to the U.S. Bureau of Labor Statistics monthly news release for August.

Assistant Commissioner for Regional Operations Stanley Suchman noted that, after testing for statistical significance, wages in the local area were lower than their respective national averages in 9 of the 22 major occupational groups, including legal; education, training, and library; and arts, design, entertainment, sports and media.

Three groups had significantly higher wages than their respective national averages: computer and mathematical; personal care and service; and healthcare support.

When compared to the nationwide distribution, local employment was more highly concentrated in occupational groups including computer and mathematical; business and financial operations and sales and related.

Conversely, groups including production, transportation and material moving, and management had employment shares significantly below their national representation.

One occupational group — computer and mathematical — was chosen to illustrate the diversity of data available for any of the 22 major occupational categories.

Colorado Springs had 14,930 jobs in computer and mathematical occupations, accounting for 5.3 percent of local area employment, significantly higher than the 3.0 percent share nationally.

The average hourly wage for this occupational group locally was $46.00, significantly above the national wage of $44.01.

Some of the larger detailed occupations within the computer and mathematical group were software developers, applications (3,530), software developers, systems software (2,250), and computer user support specialists (1,510).

Among the higher-paying jobs in this group were software developers, systems software and information security analysts, with mean hourly wages of $56.76 and $51.88, respectively.

At the lower end of the wage scale were computer user support specialists ($26.28) and web developers ($33.17).

Location quotients allow exploration of the occupational make-up of a metropolitan area by comparing the composition of jobs in an area relative to the national average. For example, a location quotient of 2.0 indicates that an occupation accounts for twice the share of employment in the area than it does nationally.

In the Colorado Springs Metropolitan Statistical Area, which includes El Paso and Teller counties, above-average concentrations of employment were found in many of the occupations within the computer and mathematical group.

For instance, information security analysts were employed at 4.0 times the national rate in Colorado Springs, and systems software developers, at 2.9 times the U.S. average.

On the other hand, computer systems analysts had a location quotient of 0.9 in Colorado Springs, indicating that this particular occupation’s local and national employment shares were similar.

These statistics are from the Occupational Employment Statistics (OES) survey, a federal-state cooperative program between BLS and State Workforce Agencies, in this case, the Colorado Department of Labor & Employment, that measures nonfarm employment, hours and earnings by industry."
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Old 11-09-2019, 10:15 AM
 
1,267 posts, read 1,471,247 times
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well no wonder I had to leave Colorado , with all those highly paid people driving up the cost of living , good for the STEM people not for me a lowly S.U.E consultant. Still I would like to come back when I win the Lottery. The most beautiful city i know of is Colorado Springs .
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Old 11-15-2019, 05:08 AM
 
Location: Colorado Springs
6,293 posts, read 6,783,742 times
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Colorado Springs incomes continue losing ground at same time cost of living is rising

https://gazette.com/premium/colorado...30a7c4745.html

"Colorado Springs wage earners are catching it from both ends: the cost of living is rising and paychecks aren’t keeping pace, compared to national averages for each.

The Bureau of Economic Analysis reported Thursday that local incomes — measured on a per person basis — last year rose 3.8% to $48,492. But the increase was well behind the 5% jump in the national average, putting local workers even further behind what the average U.S. resident brings home.

Meanwhile, the cost of living in Colorado Springs has climbed above the national average for the first time in 20 years and stayed there.

Put simply, what that means is your money doesn’t go as far here.

“If the cost of living is above the national average and wages are just 89% of the national average, that is a problem. You are losing purchasing power,” said Tatiana Bailey, director of the University of Colorado at Colorado Springs Economic Forum.

“If we want to sustain economic growth, we have to be able to attract labor and this makes it more difficult to attract and retain labor.”

This income trend is not new — local incomes have lost ground to the national average for the past nine years. Last year, they were just 89.1% of the national average.

Local incomes haven’t been above the national average since 2000. The rapid rise in the cost of living is fairly recent — the local cost of living was 92.6% of the national average in early 2016; it is now 100.9% of the average.

Local incomes grew the slowest among Colorado metro areas last year and ranked 304th among the nation’s 380 metro areas in income growth.

Grand Junction led Colorado’s seven metro areas with growth of 6.4% to $44,935, while Pueblo had the lowest per person income, $39,511, despite a 5.3% jump in 2018.

Statewide, incomes grew 5.6% last year to $58,456, nearly $10,000 more than incomes in the Springs.

Colorado Springs lagged behind the state and nation in part because of population growth and a large influx of families with children. The higher the number of nonworking-age residents, the lower the average income.

The Colorado Springs area’s population grew 1.9% in 2018, or more than three times faster than the national average and about a third faster than the state’s 1.4% growth.

Nearly 20% of the area’s income growth came from government employees, with nearly half of that coming from the military. Other major contributors included the health care, professional and business services and construction sectors. The durable goods manufacturing sector reported the only overall decline in income — a $100 million drop, or nearly 11% from the previous year.

Income per person increased last year in all of the nation’s 380 metro areas with oil-rich Midland, Texas, and Odessa, Texas, taking the top two spots and growing at double-digit rates. El Centro, Calif., and Merced, Calif., ranked at the bottom of the list.

The agency calculates income per person by adding wages, salaries, business owners’ incomes, rental income, dividends, interest, pensions, welfare and other government payments and then dividing by the population of the nation and each of its metro areas."
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Old 11-27-2019, 05:49 AM
 
Location: Colorado Springs
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Tight labor market pushes El Paso County wages higher in 2nd quarter

https://gazette.com/premium/tight-la...ec8bda4dc.html

"Workers in El Paso County are finally seeing raises above the inflation rate after years of paltry gains in the wake of the Great Recession. The boost accompanies a tightening job market, a new report shows.

The $40 increase in the county’s average weekly wage to $976, or $24.40 an hour, from a year earlier, or 4.3%, is more than double the nation’s 1.8% rate of inflation for the same period, according to data released Tuesday by the U.S. Bureau of Labor Statistics. Local wages have risen by 4% or more for three consecutive quarters and four of the past five quarters.

The gains come as the unemployment rate in the Colorado Springs area has dropped steadily this year to a 2-year low of 3.2% in September and is nearing the lowest level reached in the past 20 years. Local wages hadn’t increased more than 2.4% a year until 2017 even as employment grew at strong 3% annual rates in both in 2015 and 2016, the agency’s data show.

“It is still tough for employers to find candidates for job openings, especially in rural areas like Teller County. The number of openings significantly exceeds the number of people looking for work,” Marques said. “Many employers struggle to find employees that fit their culture and openings they have. We are seeing this at all levels and sectors of the workforce.”

Every major industry sector posted gains from a year earlier except for manufacturing and mining with the biggest increases coming in administrative and waste services, which includes call centers; retailing and accommodation and food services, which includes hotels and restaurants, all more than 5%.

Despite recent increases, local wages still remain 12.3% below the national average and 14.2% below the statewide average. During the April-to-June period, wages in El Paso County grew more slowly than the state, which rose 4.9%, but faster than the national average, which increased 3.2%. The local cost of living climbed above the national average during the second quarter for the first time in nearly 20 years.

“While wages increasing faster than the national average is really good news, it will take years to catch up with the rest of the nation but hopefully just two or three and not 10,” said Tatiana Bailey, director of the University of Colorado at Colorado Springs Economic Forum. “I am really glad to see this level of wage growth.”

At the same time wages were climbing, local job growth is accelerating. The number of people holding jobs rose by nearly 7,000, or 2.5%, from a year earlier. That is the strongest job growth since the first quarter of 2017 with more than half of the gains coming from three major sectors — health care, professional and business services (which includes most defense contractors) and construction. Retailing posted the only significant decline.

The wage and job growth numbers are compiled from unemployment insurance reports that most employers must file every three months. They are a more accurate measure of the county’s job growth than the bureau’s monthly data, which is based on a survey of employers. The local unemployment rate comes from a survey of households; October numbers are scheduled for release Wednesday."
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Old 11-10-2020, 05:02 AM
 
Location: Colorado Springs
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Colorado Springs cost of living surges to 23-year high

https://gazette.com/business/colorad...92ee20e4a.html

"The sizzling hot Colorado Springs area housing market is making the area a much less affordable to place to live, according to a quarterly survey.

The local cost of living was 103.6% of the national average in the third quarter, up from 100.9% a year earlier and the highest level the quarterly index has reached since mid-1997, according to the Council for Community and Economic Research.

Much of the increase was driven by housing costs, which have risen from 100.7% of the national average a year earlier to 105.3% in the July-to-September quarter. Housing costs make up 27.5% of the overall index.

Tatiana Bailey, director of the University of Colorado at Colorado Springs Economic Forum, said the local cost of living is being driven higher by thousands of people moving here, mostly from the Denver area, because the Springs area still remains more affordable than most of the nation’s other major urban areas. That’s despite the area’s median housing price being 23% above the national average.

“I don’t see this trend changing, especially with the rising cost of land and building materials. Unfortunately this is crowding out less financially secure individuals who can’t afford these prices,” Bailey said. “COVID-19 has made this problem worse by accelerating the desire to move here and reducing the supply of homes on the market. But people migrating here from more expensive areas still look at Colorado Springs as a bargain.”

Cecilia Harry, chief economic development officer of the Colorado Springs Chamber and EDC, said while the cost of living is important to businesses and families in deciding where to relocate, it is only one of many factors to consider. She said her family decided to move to Colorado Springs last year because “the quality of life and career opportunities outweighed the (higher) cost of living” compared with the small Wisconsin city where they were living previously.

The data for the third quarter was collected in early July, before the supply of area homes on the market fell to record lows for three consecutive months and median prices began increasing at double-digit percentages from the same month a year earlier. Those increases will be reflected in the fourth quarter data that was collected last month and will be released in January, and could push the local index beyond the record 104% reached in the second quarter of 1997.

Transportation and utilities costs also played a role in pushing the overall index higher. The component measuring transportation costs surged from 99.1% of the national average a year ago to 111.6% of the national average in the third quarter, mostly because local gasoline prices fell just 5.1%, while the national average declined 19.1% Utilities costs also rose from 98.7% to 102.8% of the national average during the same period.

The cost of living in Colorado Springs has surged more than 10 percentage points in the past four years, making the area more expensive than Albuquerque, Austin, Texas, Phoenix and Salt Lake City. The area is still nearly 10 percentage points less expensive than Denver and much more affordable than technology hotbeds in Boston, Northern California and the Seattle area.

Elsewhere in Colorado, the cost of living in the Denver area rose to 113.1% of the national average from 112.8% a year ago, while costs during the same period rose in Grand Junction from 99.1% to 99.9% and in Pueblo fell to 91.8% from 94.2%. Nationwide, New York had the nation’s highest cost of living at 248.6% of the national average, while Harlingen, Texas, had the lowest at 75.6% of the average.

The council’s index compares prices for 60 goods and services used or purchased where managers and professions live in 273 metro areas. It’s designed to help managers compare the cost of living when moving to another city."
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Old 11-10-2020, 08:39 AM
 
1,267 posts, read 1,471,247 times
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'the area more expensive than Albuquerque, Austin, Texas, Phoenix and Salt Lake City. The area is still nearly 10 percentage points less expensive than Denver and much more affordable than technology hotbeds in Boston, Northern California and the Seattle area.'
well once all the people migrate from the more expensive areas then it will all even out , Colorado Springs will be a ' A ' market as they say in the HR payscale manual but will employers voluntarily raise market rate wages ?
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Old 11-12-2020, 11:07 AM
 
4,597 posts, read 2,653,739 times
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Originally Posted by wilberry View Post
'the area more expensive than Albuquerque, Austin, Texas, Phoenix and Salt Lake City. The area is still nearly 10 percentage points less expensive than Denver and much more affordable than technology hotbeds in Boston, Northern California and the Seattle area.'
well once all the people migrate from the more expensive areas then it will all even out , Colorado Springs will be a ' A ' market as they say in the HR payscale manual but will employers voluntarily raise market rate wages ?
No employer would ever voluntarily raise wages. That would make no sense. The only reason an employer would raise wages is if market forces required them to in order to attract workers. Fortunately, these two things move hand-in-hand. Places generally don't become a lot more expensive without wages going up because you need higher wages to support higher housing prices. That's a generalization, of course -- things like low rates can drive housing prices, and there's some cyclicality to the cost-of-living vs wages game.


And I really doubt that COS is more expensive than Austin. I'm not sure what the math was on that, but I really am not sure I believe it. Austin has gotten very expensive.
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Old 11-12-2020, 12:35 PM
 
1,014 posts, read 681,962 times
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Quote:
Originally Posted by Wittgenstein's Ghost View Post
No employer would ever voluntarily raise wages. That would make no sense. The only reason an employer would raise wages is if market forces required them to in order to attract workers. Fortunately, these two things move hand-in-hand. Places generally don't become a lot more expensive without wages going up because you need higher wages to support higher housing prices. That's a generalization, of course -- things like low rates can drive housing prices, and there's some cyclicality to the cost-of-living vs wages game.


And I really doubt that COS is more expensive than Austin. I'm not sure what the math was on that, but I really am not sure I believe it. Austin has gotten very expensive.
Even Call Centers here are starting at $16/hour (Spectrum for example). Pretty good money for a person that lives below their means.

But then you have to work in a Call Center.
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Old 11-17-2020, 08:37 AM
 
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, not bad for a Call Center , I would rather be a Wall mart greeter , I could not be dragged into a call center ! or a Home Depot employee . Incandescent high pressure Sodium Light bulbs ? just got to Aisle 4 A ,,,,things sure have changed since LHS76 ...
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Old 05-09-2021, 05:26 AM
 
Location: Colorado Springs
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As economy bounces back, Colorado Springs employers struggle to hire

https://gazette.com/premium/as-econo...365a6e62a.html

"Customers are returning to Colorado restaurants, bars, retail shops and other businesses, but they may not have anyone to take their order and serve them, help them find merchandise or take their payment.

That's because many businesses in the state's service sector are struggling to hire enough workers to handle the increased number of customers and sales now that many COVID-19 pandemic restrictions have been lifted. Business owners report they can't get anyone to respond to their job postings and help-wanted ads, let alone show up for an interview, accept a job and start working."

" Some potential applicants for restaurant and retail jobs, especially younger people who haven't yet gotten both doses of the COVID vaccine, are worried about their health and safety around people who may not be wearing masks and staying at least six feet apart in a workplace that might not be well ventilated. Vaccines were restricted to those over 49 years old until early April.

• Applicants with small children may not be able to find child care since some child care centers have closed and most others have reduced capacities due to social distancing guidelines and reduced hours due to a lack of workers on their part. Some centers also have been temporarily closed during COVID outbreaks among staff and students.

• Those collecting unemployment benefits are receiving both traditional unemployment benefits, which have been extended several times, and an extra $300 a week included in the last stimulus package, both through Labor Day. Erica Romero, business relations team lead for the workforce center, estimated that can total about $15 an hour, or $2.68 an hour more than Colorado's minimum wage and more than some entry-level restaurant and retail jobs."
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