At first glance, the recent Colorado employment report looks positive. There was a 6,800 increase in March, but that value reflects an adjustment for the Kroeger strike in February. Looking closer, Colorado employment for March 2025 is only 2,300 more than a year ago.

State unemployment increased to 4.8%, up from 4.7% in February and 4.0% a year ago. The report showed there were about 27,500 more unemployed in March than a year ago.

On a year-over-year basis, private sector employment is off by 11,500, but government employment is up by 13,400. Federal government is up by 300, state government (excluding education) is up by 1,700, and local government (excluding education) is up by 1,000. The majority of the increase is in K-12 and higher education.

Despite all the good things happening in the state, the economy does not seem to be hitting on all cylinders.

On the other hand, the U.S. labor market, through Q1, is on solid footing. At the same time, there is speculation that a recession is around the corner.

For more details, go to https://cber.co/economic-updates/ and click on the April report with March data.