Colorado Unemployment Rate Drops Below 3 Percent

· May 18, 2018, 2:26 pm

Colorado’s unemployment rate fell to 2.9 percent, the 9th lowest rate in the country. The state Department of Labor and Employment says employers added 7,200 non-farm payroll job from March to April.

Wages continue their strong rise over the last 10 months, with average hourly earnings up another 4 percent in April, compared to the same month last year. Experts say 4 percent wage growth is strong, but caution it still isn’t enough to keep up with the rising cost of living in Colorado — especially when it comes to housing.

The growth in jobs in Colorado is broad based across sectors. The state reports that no sectors experienced declines in jobs over the year. The leaders in job growth was again leisure and hospitality, and professional and business services.

Unemployment fell across all geographies too. No metro area has an jobless rate over 4 percent now. And the largest declines from March to April were in two of Colorado’s most depressed metro areas: Pueblo and Grand Junction.

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