Colorado Unemployment Falls To Near Record Lows, But It’s Not All Good News

October 18, 2019

First the good news.

The unemployment rate fell to 2.7 percent in September, according to the latest survey from Colorado's labor department. Average hourly earnings jumped more than 5 percent. Over the year, Colorado employers have created 56,900 jobs.

But...

While more people reported that they found jobs, employers appear to be pulling back. Payroll jobs from August to September fell by 1,900. And state labor economists revised their August estimate down from 9,000 new jobs to only 400.

Most signs still point to a strong Colorado economy, but a global slowdown seems to be brewing. The International Monetary Fund reported that 2019 was on pace to be the weakest year for economic growth since the Great Recession. Recent surveys of local businesses show increased pessimism about the national and international economy.

Colorado, economists and business owners fear, can't help getting sucked into a global recession if one develops.