Colorado Employment Situation – April 2023

Household survey data:

According to the survey of households, Colorado’s seasonally adjusted unemployment rate was unchanged from March to April at 2.8 percent. The number of unemployed individuals fell by 1,800 over the same time period to 89,300. Colorado’s unemployment rate has been below 3.0 percent for twelve consecutive months and remains at pre-pandemic levels. The national unemployment rate decreased one-tenth of a percentage point to 3.4 percent from March to April.

Colorado’s labor force increased by 7,500 in April to 3,234,900. The share of Coloradans participating in the labor force rose to 68.6 percent in April, compared to 68.5 percent the month prior. The U.S. labor force participation rate was 62.6 percent in April and was unchanged from the month prior.

The number of individuals employed in Colorado grew by 9,300 in April to 3,145,500, which represents 66.7 percent of the state’s 16+ population. The employment-population ratio of 66.7 percent in April surpassed the pre-pandemic rate of 66.6 percent in February 2020. The national employment-population ratio was flat in April from the month prior at 60.4 percent.

Establishment survey data:

Nonfarm payroll jobs in Colorado grew by 7,200 from March to April for a total of 2,890,000 jobs, according to the survey of business establishments. Private sector payroll jobs increased by 6,500, while government added 700 jobs.

Since April 2022, nonfarm payroll jobs have increased 22,300, with the private sector growing by 13,100 and government adding 9,200 jobs. The largest private sector job gains were in leisure and hospitality (≈17,300), professional and business services (≈12,300), and educational and health services (≈3,000). During that same period trade, transportation, and utilities (≈9,800), financial activities (≈9,300), information (≈1,700), construction (≈700), and other services (≈200) payroll jobs declined. Colorado’s rate of job growth over the past year is 0.8 percent, lagging the U.S. rate of 2.6 percent.

Here are the unemployment percentages for counties in southeast Colorado: