Denver Metro Area Ranked Top U.S. Job Market, Study Finds
The Denver Metro Area has been named the “hottest labor market” in the country, according to a study by ADP Research. The study examined pay growth, starting wages, and hiring rates, and Denver came out on top.
ADP Research analyzed 55 major U.S. metropolitan areas, each with populations of at least 1 million, to rank employment hubs. The study tracked pay data from a sample of 15 million workers as of June 2024 and compared it with the previous 12 months to measure pay growth. It also reviewed starting wages for 1.2 million new hires from July 2023 to June 2024 and calculated the hiring rate as a percentage of total monthly employment.
Denver stood out with a 98th percentile ranking in pay growth, 87th percentile in new hire wages, and a 67th percentile hiring rate. Over the past year, median annual pay in the Denver area increased by 5.8%, with the median starting wage for new hires reaching $19 an hour. The area also saw a monthly hiring rate of 4.5%.
Key industries driving Denver’s labor market include construction, professional and business services, and manufacturing, which showed particularly strong growth in both pay and hiring.
“It’s no secret that Colorado is the best place to live, work, and start a business,” said Governor Jared Polis in response to the study. “This study proves once again that we’re a model for the nation. We’ve focused on creating job opportunities, lowering housing costs, cutting taxes, and fostering a thriving business environment, and it’s exciting to see Denver recognized as the hottest job market in the country.”
