DENVER (KDVR) — A new study shows the Denver metro area has the 5th highest wages for new hires.
The study, which was conducted by Self, ranked metropolitan areas according to the cost-of-living adjusted monthly earnings for new hires in 2020.
The report found new hires in Denver averaged a cost-of-living adjustment of $3,649 a month, compared to the national average of $3,266 a month.
“I think all of these things are happening in Colorado because we have done a tremendous job of coming back and lowering the number of cases here on the vaccination rate and all of those things are very positive in terms of opening up and creating more jobs,” said Kishore Kulkarni, a professor of Economics at MSU Denver.
When it comes to the Denver-Aurora-Lakewood areas, here’s what Self’s data found:
- Average monthly earnings for new hires (adjusted): $3,649
- Average monthly earnings for new hires (actual): $3,802
- Average monthly earnings across all workers (actual): $5,102
- Median home price: $517,395
- Cost of living (compared to national average): +4.2%
When it comes to the national data, here’s what the report revealed:
- Average monthly earnings for new hires (adjusted): N/A
- Average monthly earnings for new hires (actual): $3,266
- Average monthly earnings across all workers (actual): $4,783
- Median home price: $281,370
- Cost of living (compared to national average): N/A
Click here to read the full report and to compare other metro areas.