Worker shortage in Denver hindering business growth plans

Worker shortage in Denver hindering business growth plans

Metro Denver’s low unemployment rate is hindering business expansion plans, but employers aren’t giving up on trying to fill vacant positions, according to a new survey from Korn Ferry, a global human resources consulting firm.

In April, the unemployment rate in Metro Denver’s stood at a low 2.5 percent, on par with April 2017, according to the U.S. Bureau of Labor Statistics. The region hasn’t seen a run of unemployment rates this low since the tech boom in 1999 and 2000.

About six in 10 of the business professionals that Korn Ferry surveyed said the shortage of talent was affecting the ability to grown, while the remainder didn’t seen any impact.

Despite the shortages, about half said they had plans to hire more people next year than they did this year.

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