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Centennial State News

Thursday, November 7, 2024

Colorado’s Economy Strong Under Polis Administration as Labor Force Participation Rate Increases, Unemployment Remains Steady at 2.8%, Well Below National Rate

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Governor Jared Polis | Governor Jared Polis Official Photo

Governor Jared Polis | Governor Jared Polis Official Photo

DENVER - On June 16, Governor Polis and the Colorado Department of Labor (CDLE) announced that Colorado’s unemployment rate remained unchanged in the month of May at 2.8%. Colorado’s economy remains strong under the Polis administration as the unemployment rate remains below 3% for an entire year and well below the national average of 3.7%. 

"Colorado’s strong economy continues to grow businesses, attract new companies, and create more good-paying jobs. Our administration is committed to growing our state’s workforce and providing new resources and opportunities for businesses and Coloradans,” said Governor Polis.

In May, Colorado’s labor force participation rate (LFPR) increased to 68.7%. Colorado’s LFPR has remained as the fourth highest in the nation since January. 

Original source can be found here.

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