Unemployment rate stays the same despite Colorado’s gain in jobs – Washington Examiner
Teh unemployment rate in Colorado remained steady at 4.8% as of April, despite the state adding 8,400 nonfarm jobs. This rate is notably the highest since September 2021 and is 0.7 percentage points above the national average of 4.2%.The Common Sense Institute highlighted that this marks a notable change in Colorado’s employment trends, which have historically been lower than the national figures. Of the jobs created, the private sector accounted for 6,900 positions, with the moast significant gains in educational and health services (4,800 jobs) and leisure and hospitality (4,300 jobs). However, professional and business services witnessed the largest job losses, totaling 2,600. Colorado’s unemployment rate ranks as the 43rd highest among the 50 states.
Unemployment rate stays the same despite Colorado’s gain in jobs
(The Center Square) – Colorado’s unemployment rate was unchanged in April, even though the state gained 8,400 nonfarm jobs.
The state’s 4.8% unemployment rate, the same as it was in March, also indicates a shift in trends.
“This unemployment rate is also the highest it has been since September 2021, when it was 4.9%, and 0.7 of a percentage point above the national rate of 4.2%,” the Common Sense Institute, a think tank, said in an analysis of the state’s data.
“Historically, Colorado’s unemployment level has usually sat below the national average,” CSI added. “This difference represents a notable shift in the state’s labor market trends.”
Of the jobs gained in April, 6,900 were in the private sector and 1,500 were in government.
The private sectors that saw the most job gains were educational/health services (4,800) and leisure/hospitality (4,300), while professional/business services (2,600) saw the most losses.
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Colorado’s unemployment rate also ranked 43rd highest out of the 50 states, according to CSI.
The jobless rate was 4.6% in December and 4.7% in January, The Center Square previously reported.
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