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Colorado unemployment rate rose in October

Colorado’s seasonally adjusted unemployment rate increased slightly to 3.6% in October, according to a report from the Department of Labor and Employment.

The last time the unemployment rate increased occurred in August — from 3.3% to 3.4%.

The labor force in Colorado increased by 1,900 in October, but the number of individuals who are employed declined by 5,000, the latest jobs report showed.

Since April, unemployment has ranged between 3.3% and 3.6% in the state.

Meanwhile, the national unemployment rate increased by two-tenths of a percentage point to 3.7%, which is equal to about 6.1 million people.

Colorado employers added 17,700 jobs in the last month of record, with 15,400 private sector jobs and 2,300 government jobs, the report showed.

Over the last 30 months, the state experienced a job recovery rate of 121.7%, which is higher than the U.S. rate of 103.7%.

The job growth in the last year is also over the national rate, with Colorado at 4.2% and the U.S. at 3.6%.

Private industry jobs that had the most significant gains included professional and business services, construction, trade, transportation, utilities, educational and health services, and manufacturing. No industries, in particular, showed a significant declines during this month.

The Polis administration noted that Colorado’s 3.6% unemployment rate remains below the national average, as well as the additional jobs.

“We are continuing to add good-paying jobs for Coloradans as Colorado’s strong economy continues to grow faster than the rest of the country,” Polis said in a statement. “Our work saving people money and supporting hardworking Coloradans is part of our commitment to building a Colorado for all, where everyone can live, work, and thrive.”

Colorado’s seasonally adjusted unemployment rate increased slightly to 3.6% in October, according to a report from the Department of Labor and Employement. (Screenshot, Courtesy of Department of Labor and Employement)
Colorado’s seasonally adjusted unemployment rate increased slightly to 3.6% in October, according to a report from the Department of Labor and Employement. (Screenshot, Courtesy of Department of Labor and Employement)


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