A Colorado firm struggling to hire has no job openings — and that’s the new plan

Quick links: The “ideal” 1:1 job ratio | Readers on the economy | Reader poll results | New reader poll | Apartment growth | Greeley development | More

Mineralife Nutraceuticals, a Colorado Springs manufacturer of dietary supplements, officially has no job openings, even though it really does.

The small business has faced an unusually high rate of staff turnover in recent years and has had trouble filling open positions. It seems like that’s the exact opposite of what current labor data shows, which is that it’s tough to find a job.

In fact, some new hires seem to flame out even before orientation is over.

“They either didn’t have the skills they said they did or they would end up finding another job they were more interested in,” said Rebecca Goffe, the company’s director of operations. “We hired someone six months ago. That person — because we wanted two document-control specialists — has watched that (second) position turnover twice now because the people would not stay through their onboarding.”

Mineralife Nutraceuticals is a Colorado Springs manufacturer of dietary supplements. The company has a warehouse and manufacturing facility to make and package up orders. Hiring is based on the ebb and flow of orders and new business. (Handout)

So, instead of posting yet another job opening, Goffe has a new plan: Host a career event to scope out whether the types of workers needed exist or could eventually exist — with training and support.

“I’m trying to flip the script on hiring,” Goffe said. “What I’m trying to do in January is put together a hiring event where we would kind of see what’s out there in Colorado Springs, what knowledge and skills are out there. And can we apply that to our business? I’ve been reaching out to consultants in our industry and saying, ‘Hey, if I hired somebody with 20% of the knowledge, can you get them to 100%?’”

Colorado’s job market may seem bleak for job seekers, as the number of available jobs has plunged by double-digit rates this year, compared with last year. Openings in the state were down 40% in July from a year earlier. There are fewer options for job seekers.

The “ideal” 1:1 ratio: A job for every unemployed Coloradan

The latest data points to a more balanced economy — there’s now one job available for every unemployed Coloradan, according to the Bureau of Labor Statistics.

A few years ago, unemployed workers had their choice of three jobs, when during the pandemic recovery, employers were competing for some of the same workers.

Is it a better economy now?

“It really depends,” said Bill Craighead, program director at the University of Colorado, Colorado Springs Economic Forum. “For employers, things are better because they don’t have to compete as hard to hire retain workers, but for workers, since it’s not as easy to find another job, they have less bargaining power.”

That’s why it’s tough to generalize, even at a state level. The reality hits businesses and workers differently based on their size and skill level, as companies like Mineralife have learned.

Denver economist Gary Horvath puts it this way:

“In an ideal world, the 1:1 ratio is a good number to strive for; however, job openings are a little bit like housing data,” Horvath said in an email. “The data doesn’t account for job or housing mismatches. If a job is open in Aspen and I don’t want to move there, or can’t afford the housing, or don’t have the qualifications, it does not matter.”

He prefers to look at whether Colorado is adding more jobs as an indicator of where the state’s economy is headed.

From 2012 to 2019, the state’s annual job growth averaged 66,000 a year, he said.

In August, Colorado employers had added just 18,300 in nonfarm payroll jobs in the past 12 months. That’s still job growth, albeit weaker, he said. But then he pointed out the top sectors adding jobs: health care, accommodation and food services and state government.

Such jobs are needed in growing communities. But the state’s population growth has been slowing. Retail sales have been weaker than in years past. And local governments rely on those taxes to provide services.

“These sectors are critical to a well-rounded economy; unfortunately, they will not drive sustained economic growth,” he said in an email. “Are we tapering off (as might be suggested by real GDP of 3.8%) or are we going in the tank? To me, this takes precedence over the 1:1 ratio.”

What readers shared

The disconnect between job seekers and employers isn’t new. And it showed up in comments from readers who took a recent What’s Working poll on the economy. Some responses for the question asking about what it’s been like to look for a job or hire for one?

“Terrible. Companies (are) ghosting.”

“Work has changed. You need certifications to get noticed, unless you know someone.”

“Don’t require a college degree AND experience for ENTRY level.”

“I applied for a job where they said that I was the only one that had all the qualifications, but after 4 good interviews, they said that I needed more technical skills. However, those skills were not listed in the job description.”

I have utilized AI to save time after researching and identifying my skills specific to the job. Employers use AI to scan through resumes. Basically, it is bot versus bot – and IT’S NOT WORKING. Employers are missing out on excellent employees. If I write my resume organically, it still doesn’t get to a human.

“Very difficult to hire part-time unskilled workers.”

“Our intern was really incompetent. We need to focus on (the) quality of the workforce, not just a bunch of people desperate for cash that don’t care.”

On Friday, tens of thousands of Colorado jobs were listed on online job boards. The state’s official site, Connecting Colorado, had 146,829 of them, including 43,056 jobs in Colorado and 16,313 of those posted in the past month.

And in Colorado last month, approximately 120,471 Coloradans, including 14,768 in Colorado Springs, were unemployed, according to state Department of Labor and Employment data.

Mineralife may not be posting its jobs just yet, but Goffe acknowledged other reasons why it’s been tough to find the right fit with job seekers.

The company is small and locally-owned. They try to offer competitive wages for the area, plus benefits, which can cost “up to 30% more on top of that wage,” Goffe said. But Mineralife can only offer so much as a small business. The rising cost of living in Colorado Springs also doesn’t help — the worker or the business.

“It’s difficult when you see how quickly things have inflated since 2020,” she said. “Our sales haven’t kept up to support that.”

Reader poll results: Better or worse?

In a recent What’s Working reader poll, there was no clear majority about how folks felt about their current economic situation. Many, or 45.1% of the 257 responses, felt poorer. Another 29.2% said they felt the same.

But not all readers are glum or feeling poorer than last year. Nearly 10% picked “wealthier,” including Deena Schendel from Merino, just southwest of Sterling.

“Feeling wealthier-mostly because mortgage is paid off, debt paid down, managing finances to decrease unnecessary spending,” she explained in an email.

She works full time and hasn’t gotten a pay raise to deal with inflation. She also cares for her mother, which provides a little more money. And there’s enough to also help her grown children who are “struggling with the economy.”

“(I’m) using credit cards to pay all bills to accumulate points so travel is almost free,” she said in an email.

But in chatting with friends and neighbors, she hears about what others are doing to cut down their spending and simplify their lives.

“Trading in two cars on one electric car. That is before the rebate expires this month. … Moving a small business from its own storefront to their home. Downsizing (by) moving from Denver down to Sterling. That will save them over $2,500 a month in rent. I am seeing many families living three generations together in a home that grandma owns,” she said. “It’s tough.”

Next poll: What are your big AI questions?

ICYMI: Artificial intelligence does seem to be everywhere. How do you use it? Or do you worry about it? Take this week’s reader poll to help us better understand how Coloradans are dealing with the proliferation of AI in their lives. Thanks in advance!

➔ Take the poll >> cosun.co/WWbigAI

Sun economy stories you may have missed

Colorado Rockies fans react late in the game against Arizona, August 15, 2023, at the Coors Field in Denver. (Hugh Carey, The Colorado Sun)

➔ We asked for your big ideas to fix the Colorado Rockies. You made some great pitches (unlike the Rockies). >> Read story

➔ What will happen to the US patent office in Denver as its regional director leaves? The Denver office was the second regional office outside of D.C. >> Read story

➔ Xcel Energy settling Marshall fire lawsuit for $640 million while admitting no fault. Hundreds of plaintiffs were going to trial this week in major test of liability from the devastating suburban wildfire >> Read story

➔ University of Colorado lands $50 million grant from The Anschutz Foundation to improve mental health care. The gift is part of a $200 million fundraising campaign to create the CU Anschutz Campus Mental Health Collaborative >> Read story

A wakeboarder does a 360-degree flip while being pulled by a cable in the Riverwalk channel during Riverfest 2025 last month in Pueblo. (Mike Sweeney, Special to The Colorado Sun)

➔ Pueblo has a fraught history with the Arkansas River, but a new $11 million park could change that. A dangerous dam is turned into a riverside haven for tubing, surfing and lounging on the beach. It’s Pueblo’s latest bid to change its relationship to the Arkansas River. >> Read story

➔ The Colorado legislature just tackled two budget crises. Another is on the horizon. >> Read story

➔ Back to school: Older Coloradans stimulate intellect, ease transitions through college offerings. Facing challenges of retirement, seniors can find socialization, expand academic horizons — and customize a plan for their next act >> Read story

➔ Colorado lawmakers outlawed some apartment fees. Now small businesses want protections, too. The Colorado legislature banned CAM fees — charges for common area maintenance — in residential leases starting Jan. 1. >> Read story

Other working bits

➔ Denver, Colorado Springs among top cities for new apartment growth. Colorado Springs ranked 10th nationwide for the growth rate in new apartments expected to be completed this year, according to market research firm RentCafe. At 4,745 new units, that’s a 51% increase from last year. By pure numbers of new units, the Denver metro area ranked 10th for the number of new apartments in the U.S. with 12,662 new units this year. Nationwide, new apartment construction is down from a year ago but considered “still strong” with an estimated 506,353 units this year. >> View report

➔ City of Greeley breaks ground on a 300-acre entertainment district. They’re calling it “Catalyst” and it’ll include a professional sports arena (for hockey’s Colorado Eagles, which signed a 40-year lease), year-round indoor water park and a full-service conference hotel. Construction costs are estimated to be $486 million, and ultimately generate $44 million a year in revenues. The project, located between Weld County Road 17 and Colorado 257, is also expected to create 2,480 temporary construction jobs and 1,200 permanent ones at the hotel, water park and on-site services. >> Details

➔ UCCS Economic Forum is Oct. 2. If you’re in the Colorado Springs area next week, the 29th Annual UCCS Economic Forum will be held at the Ent Center on Oct. 2 and is focusing on housing and water development (The Colorado Sun’s Mike Booth is a panelist) and include the latest economic update about the region by Bill Craighead, the forum’s director and frequent source for economic analysis in Sun stories. Registration is $70. >> Details

➔ Colorado labor department is moving to a new building. It’s just across the street to 707 17th Street, but it’s definitely good to know this if you’re receiving unemployment benefits or need other support from the Colorado Department of Labor and Employment. The agency will be in its new space by Nov. 3. Until then, in-person services are on hold but available online. The move, as reported by CoStar News earlier this year, is an effort to downsize and reduce its footprint by one-third of the space.

Got some economic news or business bits Coloradans should know? Tell us: cosun.co/heyww

Thanks for sticking with me for this week’s report. As always, share your 2 cents on how the economy is keeping you down or helping you up at cosun.co/heyww. ~ tamara

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