The Centennial State job market is going to improve from the dubious honor of being the nation’s worst in the present quarter to ranking the Top 10 in the coming quarter, according to a new survey.
The Centennial State Job Openings Go Up, Layoffs Fall as the Corona Virus Pandemic Economy Improves
Jumping to 28%, the net employment outlook for Colorado Springs is the difference between the percentage of employers planning to hire more staff and those anticipated cuts which jumped to 28% for the second quarter. They are up from 3% in the first quarter. This is according to a survey released by the staffing monolith ManpowerGroup. Unfortunately, the first-quarter outlook was pretty bad and the worst since the fourth quarter of 2011. The good news is the second-quarter outlook is by far the best in nearly two years. In January, the latest survey was done. In June, the next one will be done.
Surveyed employers do plan on hiring more people during the April-to-June quarter. There is an apparently optimistic outlook which resulted from nearly a third, 31 percent. In fact, there are just 3% plan staff cuts.
That’s a major improvement from a year ago. That is when fears about the spread of the COVID-19 pandemic in the wake of the nation’s first case reported cut hiring and reducing the outlook to 9%.
The Centennial State Local Job Market
Manufacturing, transportation, wholesale trade, retailing, finance, health care, restaurants and hotels have the best outlook for the local job market.
Hiring Improvements
There has been an 18% improvement in Colorado’s other cities’ hiring outlook in the second quarter. It’s an improvement from 15% in the first quarter. Unfortunately, it is well behind the 25% outlook during the second quarter of 2020. Yet, employers in state-related cities weren’t exactly as upbeat as the rest of Colorado. Because the hiring outlook was at 25%. It was double from the first-quarter outlook that was up from 16% a year earlier.
Colorado Springs Ranked as the Nation’s Ninth Best
Ranked at the nation’s ninth-best along with other states, Colorado Springs outlook for the second quarter well ahead of Colorado-related cities ranks near the middle of the pack at 47th. They are tieing with eight other U.S. cities and states. Ranked as the fourth-worst outlook during the first quarter is Colorado Springs.
Nearly one-fourth of employers said they plan to add workers in the second quarter nationwide. It is the most since the pandemic began. By July, one-third expect to return to pre-pandemic hiring levels. Therefore, more than half expect to do so by the end of 2021. In fact, one-third are expecting to go to pre-pandemic hiring levels by July. 56 percent, more than half of all employers, believe employees will be back in the workplace will a good part of the time within six to 12 months.
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