Colorado employment started the year on a strong note; however, it tapered off in March and April. Job growth is not broad-based, with limited growth in the private sector.

On a year-over-year basis, there are 51,800 more employees than a year ago. The change in employment is well below the annual average for the pre-pandemic period of 2012 to 2019.

Persistent inflation and high interest rates are a challenge to consumers and businesses. The restrictive monetary policy is taking longer than expected to work its magic.

From an unemployment perspective, the Colorado rate is 3.7% compared to 3.9% for the U.S. A year ago, the Colorado rate was 3.0%. The labor market is tight in many sectors, and it is a struggle for many businesses to find qualified workers. For more details go to https://cber.co/economic-updates/.

Click on the link about April data for more information about 2024, and the benchmark report provides revised information by industry sector for 2023.