NoCo, Boulder Valley unemployment rate below 3%, state hits 40-year low

DENVER — The estimated unemployment rate in the four counties that make up the Boulder Valley and Northern Colorado was below 3 percent in March, and the state reached a 40-year low of 2.6 percent last month, according to a report released Friday by the Colorado Department of Labor and Employment.

The report is based on a monthly survey of households and is not adjusted for seasonal workers.

Statewide, the unemployment rate decreased three-tenths of a percentage point in March to 2.6 percent — the lowest unemployment rate for Colorado since the reports began in 1976.

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The number of people actively participating in the labor force increased 10,500 over the month to 2,933,300, and the number of people reporting themselves as employed increased 19,500 to 2,857,600, causing the number of unemployed to decrease by 9,000.

Boulder County’s 2 percent unemployment rate in March was down from 2.8 percent in February; Larimer County, 2.1 percent, down from 3 percent; Broomfield County, 2.3 percent, down from 3.1 percent; and Weld County, 2.4 percent, down from 3.3 percent.

Boulder County had 181,775 people employed, with 3,764 looking for work, according to the report.

Larimer County had 187,209 people employed in March and 4,000 looking for work.

Broomfield County had 36,124 people employed and 885 looking for work.

Weld County had 147,935 people employed and 3,573 seeking jobs.

Using a survey of businesses, considered more accurate than a survey of households, the labor department said the unemployment rate statewide was 2.9 percent in February, down four-tenths of a percentage point from 3.3 percent. The number of Coloradans participating in the labor force increased by 52,600, total employment increased 64,000, and the number of unemployed decreased 11,400.

The national unemployment rate decreased two-tenths of a percentage point in March to 4.5 percent.