Colorado continues to be in the spotlight nationally for a strong economy. Is it any wonder that so many people want to come and join us in this great state!
Colorado employers added a net 5,000 non-farm payroll jobs to the state’s economy in June – more than 16 times the 300 added in May, and on par with the average over the past 12 months.
But the unemployment rate still increased to 3.7 percent because of the combined increase in labor force and decrease in number of people reporting themselves as employed.
“The increase in unemployment rate can actually be seen as a good sign because the pool of available workers has grown,” labor department economist Ryan Gedney said. “Employers are having a difficult time filling job openings. They have a ton of openings, but can’t find anyone to fill them.”
“It’s the strongest, most consistent growth we’ve seen since the mid-’90s,” he said.
Colorado’s unemployment rate of 3.7 percent remained the seventh-lowest in the country, according to Bureau of Labor Statistics data. That’s down from 3.9 percent this time last year. The national unemployment rate was 4.9 percent in June, down from 5.3 percent a year ago.
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Written by: Bob Golba, Sales Manager
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