Colorado’s unemployment rate rose slightly to 4.8% in March, above the national average of 4.2%. According to a report from the Colorado Department of Labor and Employment, the number of jobless individuals increased by 1,200 to a total of 156,500. The industries that showed the most job growth were trade, transportation, and utilities, adding 7,700 jobs. The retail sector saw growth due to workers returning from a strike at King Sooper, leading to a 100-day period of labor peace for continued contract negotiations.
However, sectors like education and health services lost 2,400 jobs, and leisure and hospitality lost 1,800 positions. Employers in Colorado added 6,800 nonfarm payroll jobs from February to March, bringing the total to 2,972,800 jobs. The private sector added 5,800 jobs, while the government added 1,000 jobs.
Over the last year, nonfarm payroll jobs grew by 2,300, with the private sector losing 11,500 jobs and the government adding 13,800. Colorado’s job growth rate over the past year is 0.1% below the U.S. rate of 1.2%. This data indicates a mixed job market in Colorado, with some sectors experiencing growth while others have reported losses. Despite the rise in unemployment rate, the state’s job market is still demonstrating some signs of recovery and resilience.
