PRESS RELEASE

Colorado Department of Labor and Employment

633 Seventeenth Street, Suite 1200 • Denver, CO 80202  (303) 318-8004 • Fax: (303) 318-8870

For Immediate Release

Date:               August 18, 2005

Contact:          Office of Government and Public Relations

Phone:             (303) 318-8004

Fax:                 (303) 318-8070

Web:             http://www.coworkforce.com/lmi/

The Pikes Peak region Job Vacancy Survey Shows More Vacancies Than A Year Ago

(Denver) – Increased job openings and a decline in unemployment are refueling local economy in the Pikes Peak region of Colorado according to a new Job Vacancy Survey report issued by the Colorado Department of Labor and Employment.

The findings are the result of a survey of job vacancies conducted between February 15^th through March 1^st 2005 in the region which cover El Paso and Teller counties.

A total of 1,953 employers representing approximately 42 percent of the region’s total employment responded to the survey.  They reported an estimated 2,915 jobs open for immediate hire in the region.  This is up from 2,448 a year ago.  The regional unemployment rate dropped from 6.0 percent to 5.6 percent in the same time period.

“The increase in vacancies along with the increase in job growth and the drop in the region’s unemployment rate confirms the on-going economic recovery in the Colorado labor Market,” says Rick Grice, the Executive Director, Colorado Department of Labor and Employment.  “Our latest Job Vacancy Survey shows Leisure and Hospitality offering the highest number of jobs with 1,015 estimated vacancies paying an average wage of $7.00 per hour.”

The sales & Related occupational group makes 13 percent of all vacancies in the survey.  Office & Administrative Support occupations account for another 12 percent of the vacancies.  Top vacancies include Cashiers ($8.30) and Customer Service Representatives ($9.50).  Waiters & Waitresses ($6.10) and Retail Salespersons came in third and fourth with 3 percent of all vacancies.

This latest Job Vacancy Survey for the Pikes Peak Region is now available online at http://www.coworkforce.com/lmi/WRA/home.htm.  The Executive Summary of the survey is provided below.

About the Winter 2005 Pikes Peak Job Vacancy Survey

The winter Pikes Peak Job Vacancy Survey was conducted from February 15th through March 1st, 2005. The goal of the survey is to provide current information on the demand for workers so that employers, job seekers, economic developers, educators, and workforce centers can make informed decisions in the Pikes Peak Region.

Over the survey period, government and large employers, as well as randomly selected small to mid-size employers with at least five employees, were contacted in the region. Employers were asked if they are actively hiring at the time of the survey, and a variety of questions about positions they are seeking to fill.

A total of 1,953 employers representing 41% of the region’s employment responded to the survey. Out of these, 61 are large employers (250 or more employees), 123 are government employers, and 1,769 are from small to mid-size employers (five to 249 employees). The survey has an 86% response rate and a cooperation rate of 91%. The margin of sampling error for the overall vacancy estimate is plus or minus 3.0%, or about 87 vacancies.

Major Findings of the Survey

• It is estimated that a total of 2,915 jobs were open for hire in the Pikes Peak Region during the survey period, up 19% from 2,448 a year ago.
• Twelve percent of the employers responding to the survey reported having at least one vacancy. Seven percent of all responding employers reported having more than one vacancy.
• Thirty-five percent of all vacancies are in Leisure & Hospitality and 21% in Trade, Transportation, & Utilities. The remaining 44% of the vacancies are in all other industries.
• The average wage for all vacancies is $13.30 per hour. The Healthcare & Social Assistance sector offers the highest average wage of $20.70 per hour, followed closely by wages in the Information sector ($20.50 per hour).
• Seventy percent of vacancies are in small to mid-size firms and another 25% are in large firms. Only 5% of the region’s vacancies are in government agencies.
• Eighty-one percent of estimated vacancies are full-time permanent positions, while 14% are part-time permanent.
• Forty-three percent of all vacancies require post-secondary education, 30% require high school or GED completion, and 27% have no educational requirements. This report shows that 25% of all vacancies require a bachelor’s degree.
• For thirty percent of all vacancies, employers require experience in a related field. With an additional 36% of the vacancies, employers require experience in the occupation.
• Survey results show that employers are offering higher wages with increasing levels of education and experience.
• Fifty-seven percent of vacancies are considered not difficult to fill, while this time last year, only 44% were considered the same. Only 11% of the vacancies are very difficult to fill.
• Forty-nine percent of reported vacancies are open for less than 30 days, slightly more than last year’s report.

###