If you feel like you live in a great state for your career, it’s official: you are absolutely correct. Among all 50 states, Colorado is the second best state for finding a job, according to analysis by WalletHub.
The only state where job seekers fare better is Washington, with a total WalletHub score of 71.45 compared to Colorado’s 70.04.
But in “Job Market Rank,” Colorado pulled the top position at No. 1, followed by Utah, Maryland and Minnesota. Washington came in at No. 7.
Total score of most attractive states for employment was determined by WalletHub's comparison of 50 states across 29 key indicators of job-market strength, opportunity and a healthy economy. The two key dimensions were Job Market and Economic Environment. Job Market was weighted more heavily since the factors in that category most heavily influence a job seeker’s decision in terms of relocation for employment.
Here’s how Colorado ranked in key categories.
In ‘Economic Rank’ Colorado is No. 19. Economic Rank evaluates the economic environment based on indicators such as median annual income (adjusted by the cost of living), monthly average starting salary, share of workers living under poverty line, average length of work week, average commute time and commuter-friendly jobs.
At the city level, Aurora led Colorado as the top place to find a job, ranking No. 33 in the U.S. Denver followed at No. 35 and Colorado Springs No. 68. The top cities in ‘Job Market Rank’ are Peoria, AZ; San Francisco, CA; Chandler, AZ; Gilbert, AZ; and Scottsdale, AZ, ranking 1-5 respectively.
In April, Colorado’s state unemployment rate fell by a tenth of a point to 2.9 percent and Colorado employers added 7,200 non-farm jobs to their payrolls, according to a monthly update from the Colorado Department of Labor and Employment. Nationally, the unemployment rate in April stood at 3.9 percent.
Average hourly earnings rose from $27.73 an hour to $28.91 over the past year. The average workweek remains unchanged at 33.7 percent.
For the full listing of statistics on the states, visit https://wallethub.com/edu/states-with-the-best-economies/21697/. For cities, visit https://wallethub.com/edu/best-cities-for-jobs/2173/.
About Tom Kalinski:
Tom Kalinski is a pillar of the Boulder Valley real estate community who was inducted into Boulder County’s Business Hall of Fame in 2016. Tom has vast inside knowledge of the Boulder County real estate market and an impressive 40-year background in commercial and residential real estate. Tom is the Owner and Founder of RE/MAX of Boulder, the top-producing local residential real estate company he established in 1977, which has grown to over 100 Realtors. RE/MAX of Boulder has been voted Best Real Estate Group by Boulder Weekly, Best Real Estate Company by Colorado Daily, and named #1 RE/MAX office in the U.S. for sales volume 8 times.
Owner and Founder
RE/MAX of Boulder