Economy & Economic Development  June 16, 2023

Northern Colorado, Boulder Valley May unemployment up, state rate flat

DENVER — Colorado’s jobless rate was flat in May, but ticked up slightly in the Boulder Valley and Northern Colorado.

The state’s seasonally adjusted unemployment rate was 2.8% in May, while the total labor force increased by 9,400 in May to just more than 3.2 million workers, to the Colorado Department of Labor and Employment statistics released Friday. 

Locally, the non-seasonally adjusted unemployment rate was up across the region. In Boulder County, May and April’s jobless rates were 2.5% and 2.1%, respectively. Broomfield County’s rates were 2.7% and 2.3%; Larimer County 2.4% and 2.1; and Weld 2.9% and 2.5%.

Over the year, the average workweek for all Colorado employees on private nonfarm payrolls decreased from 33.7 to 33.5 hours, while average hourly earnings grew from $34.68 to $35.72, more than the national average hourly earnings of $33.44, according to CDLE data.

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