Colorado’s Unemployment Picture
Colorado’s unemployment rate continues to drop. New figures by the Department of Labor and Employment show the rate dropped to 4.1% in November. The national unemployment rate is 5.8%.
The last time the Colorado unemployment rate was as low as 4.1% was in January of 2008. The largest job gains were in the trade, transportation and utilities, financial, mining, logging and information sectors. Month-over-month declines were felt in the leisure and hospitality industry, as well as construction.
Governor Hickenlooper lauded the news but said more work needs to be done. He says his office wants to come up with “creative and effective ideas that will help support those still looking for work.”
Over the year, the unemployment rate fell from 6.3% in November 2013 to 4.1% last month. Total employment year-over-year increased by 117,000 and the number of people unemployed decreased by about 60,000.