Economy & Economic Development  June 24, 2024

Colorado jobless rate up slightly, lower than national figure

DENVER — Colorado’s jobless rate was up slightly in May but remains lower than the national average.

The Centennial State’s seasonally adjusted unemployment rate rose from 3.7% in April to 3.8% last month, while the national figure ticked up one-tenth of a percentage point to 4% for that period, according to data released Monday by the Colorado Department of Labor and Employment. 

“Colorado’s labor force decreased by 2,800 in May to 3,234,000,” according to the CDLE report. “The share of Coloradans participating in the labor force declined one-tenth of a percentage point to 67.9% in May, compared to the month prior. The U.S. labor force participation rate was 62.5% in May, shrinking two-tenths of a percentage point from the month prior.”

In the Boulder Valley and Northern Colorado. Larimer County posted the lowest May not-seasonally adjusted jobless rate of 3.5%, up from 3% in April. Boulder’s May and April rates were 3.7% and 3.1%, respectively; Broomfield’s were 3.8% and 3.4%; Weld’s were 4.1% and 3.5%.

“Over the year, the average workweek for all Colorado employees on private nonfarm payrolls increased from 32.9 to 33.5 hours, while average hourly earnings grew from $35.46 to $37.77, $2.86 more than the national average hourly earnings of $34.91,” the CDLE report said. 

Dallas Heltzell
With BizWest since 2012 and in Colorado since 1979, Dallas worked at the Longmont Times-Call, Colorado Springs Gazette, Denver Post and Public News Service. A Missouri native and Mizzou School of Journalism grad, Dallas started as a sports writer and outdoor columnist at the St. Charles (Mo.) Banner-News, then went to the St. Louis Post-Dispatch before fleeing the heat and humidity for the Rockies. He especially loves covering our mountain communities.
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