Denver is #2… or is it?
U.S. News and World Report ranked Denver number two in the annual "Best Places to Live” survey.
April 16, 2019
- U.S. News and World Report once again released their annual “Best Places to Live” survey, and this year Denver swapped places with Colorado Springs to claim its number two slot. Looking at the survey’s five categories (each awarded up to ten points), it was the “job market” category where the Mile High City really exceled, besting even top-ranked Austin. What makes our job market so great?
- With an unemployment rate of around 3.0 percent and large companies like Roth Corporation moving headquarters here, it’s easy to say that jobs are plentiful locally. But Austin boasts an unemployment rate of 2.9 percent and plenty of companies moving there as well. Where Denver really separates itself is in pay. Across all occupations, Denver’s mean hourly wage is nearly 8.0 percent higher than Austin’s and more than 12.0 percent above that of the #3 city, Colorado Springs, according to the Bureau of Labor Statistics.
- Real estate-wise, Denver is paying the most for labor that produces and operates our industrial product. Transportation and material moving employees receive significantly higher pay here, while construction and extraction workers also see moderately higher pay. This is crucial during a time of worker shortages; the cities that pay the highest dollar stand a better chance of luring the best workers.
Source: JLL Research, U.S. News and World Report, Bureau of Labor Statistics