The July Colorado employment update is bland and broad-based. That is a good thing given the slowdown in the U.S. labor market.

Nationally, 13 states had notably higher unemployment rates in July and only two states had increases in employment. The Colorado unemployment rate increased to 3.9% from 3.2% a year ago. In addition, there was a modest increase of 4,800 workers in July, below the average of 5,500 per month for 2012 to 2019.

The three government sectors added 2,300 workers compared to only 2,500 for the private sector. Within the government sector, employment increased by 1,800 in local government. Fourteen of nineteen sectors that are tracked by cber.co recorded job increases in July. Job growth may be limited, but it is broad-based. The data is not overly exciting and that is okay!

For additional details, check out the cber.co Review of Colorado Economy – Update Through July 2024.