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Edge in the war for talent? For all the deserved talk about the Boston’s, Portland’s, Seattle’s, & San Jose’s . . . Advantage, Denver

  • ​How many American adults have a four-year college degree? Recent findings by the U.S. Census Bureau say slightly more than one of every three—the highest measure ever recorded. And where are these grads moving to and living? Right here in our own Mile High home.

  • Our domestic economy remains at “full employment,” making it increasingly difficult to attract talent thanks to intense competition for available workers. Demand for talent continues to outstrip supply, as evidenced by the latest 4.1% unemployment rate. Striking is the unemployment rate for individuals holding a bachelor’s degree or higher: a paltry 2.1%. A level this low will likely begin to curb overall economic growth (if it’s not already begun to) as companies are unable to fill roles necessary for growing their businesses.

  • This market cycle has seen cities emerge as the clear residential locations of choice. Still, not all boast an equal ability to attract talent. Denver has its challenges. We’ve long been perceived an oil-price-dependent boom-and-bust town. And, now, we face emerging weaknesses like a rapidly elevating cost of living and waning affordability. But, in the proverbial “war for talent,” we’ve attracted highly skilled labor faster than any of the nation’s 20 largest cities. Included are the above-listed coastal gateway cities, tech hubs, and knowledge centers. And, because we’re winning an outsized share of talent, Denver real estate owners and occupiers will find themselves in a market whose job growth is poised to best national averages over the long term.

Source: JLL Research

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