Real Estate News
Colorado Springs Job Market Outlook Improving
The Colorado Springs job market, one of the worst in the nation since the recession, is expected to make dramatic improvement in the coming months, according to a report issued Tuesday by staffing firm Manpower Group. According to Manpower's survey, 24 percent of employers in the city plan to expand hiring in the first quarter, compared to just 8 percent that are planning on cutting payroll. The remaining 68 percent expect no changes or are currently unsure. In the same survey a year ago, just 24 percent expected to increase hiring while the same 8 percent expected cuts.
Compared to other US cities, Colorado Springs ranks in the top half in terms of job market outlook, tied for 35th with several other cities including Cincinnati and Houston. The Springs' outlook is more upbeat than Denver's, but slightly less optimistic than the entire state's. Local leaders lauded Manpower's report, saying that there are still thousands of unemployed residents in the city, making the Pikes Peak region a perfect spot for new jobs. The city's jobless rate stood at 5.8 percent in September, still well above the statewide unemployment mark of 4.7 percent.