According to a new study by WalletHub, employers in Colorado struggle the fourth most of any state in America to fill jobs.
WalletHub compared the 50 states and the District of Columbia based on two metrics, the rate of job openings for the latest month and the last 12 months. WalletHub then used these metrics to rank the states and D.C. from those that struggle the most with hiring to those that struggle the least. Data came from the U.S. Bureau of Labor Statistics.
One of the issues with the labor shortage is that Baby Boomers are retiring. “There are many reasons attributed to the increased competition in the labor force,” according to Abbie Lambert, assistant professor of the University of Central Oklahoma. “We have seen job growth recover and continue to rise since the pandemic. However, labor force participation during the pandemic is just now hitting close to pre-2020 levels and is still below the levels in the late 2000s. This is complicated by the accelerated rate of baby boomers retiring during the pandemic and the decrease in overall hours worked by those in the labor force. These difficulties can also be felt unevenly in industries where there is already a talent shortage, such as information technology and healthcare.”