Colorado’s unemployment stays relatively low but slowly climbing
Colorado’s unemployment rate inched up to 4.1 percent in October, according to the state’s labor department.
The unemployment has been slowly climbing for about a year, mirroring national trends. But it’s still relatively low. For context, the state’s unemployment rate surged past 11 percent when COVID-19 hit in 2020. It peaked at 9.4 percent during the recession following the 2008 financial crisis.
Separate from the unemployment rate, preliminary numbers from businesses show Colorado added 9,000 nonfarm jobs from September to October. The biggest job gains were in leisure and hospitality, and professional and business services.
It’s difficult to draw broad conclusions from a single month of job statistics as the numbers are frequently revised as more information comes in.
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