Centennial State News

Colorado Gov. Jared Polis pointed out in a Dec. news release that the state’s strong job growth and now even lower unemployment rate continues to outpace national levels as officials continue to attract good-paying jobs to the Rocky Mountain State.

According to a news release from the Colorado Department of Labor and Employment (CDLE), the state’s unemployment rate fell to 3.5% after adding more than 4,000 non-farm payroll jobs in November. However, the news release noted that data indicates the state’s labor force shrunk by 4,700 in November to 3,252,100, and the labor participation rate fell to 69.2 percent for the month, from 69.4 percent the previous month.

“Colorado’s strong job growth and now even lower unemployment rates continue to outpace national levels as we continue to bring good-paying jobs to Coloradans and save people money," Polis said in a news release. "Coloradans are hard at work with opportunities across industries, and we remain focused on reducing costs and putting money back into the pockets of hardworking Coloradans, making sure Colorado remains the best place to live, work, and do business."

The CDLE noted in its news release, over the last 30 months, the state has added 456,800 nonfarm payroll jobs, besting the 374,500 jobs lost in March and April 2020, with a job recovery rate of 122%, above the national average of 104.7%.

According to a Reporter Herald report, 2,800 jobs were added in the educational and health services segments, and business services saw an increase of 2,200 jobs.

The construction sector, according to the report, lost 3,400 positions, and leisure and hospitality saw a drop of 2,600 jobs.

Moreover, the report noted the average workweek for employees in private, nonfarm payroll jobs stood at 33.2 hours, with hourly earnings at $35.88, up from $33.07, more than the national average of $32.82.