Given the weakness shown in the U.S. August employment report released several weeks ago, the recent Colorado employment data is good news.

Colorado added 3,000 jobs, albeit at a modest rate, and unemployment fell to a comfortable rate of 4.2%, slightly less than the U.S. rate of 4.3%. This is the first time the Colorado unemployment rate has been below the U.S. rate since the fourth quarter of 2023.

Employment is 18,300 greater than a year ago. Historically, that is weak growth, but it is positive. The leaders in absolute job growth were healthcare, state government, and AFS. Total YOY employment in these three sectors increased by 30,300. These sectors are critical to a well-rounded economy; unfortunately, they will not drive sustained economic growth.

For additional details, check out the report,  Forecast and Trends Report for September (August data).

You might also enjoy the quarterly economic updates published by the Colorado Legislative Council and the Governor’s Office of State Planning and Budgeting. They provide different, but comprehensive, overviews of the state economy.