Colorado economic update

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