Colorado Employment Situation – November 2023

Household survey data

According to the survey of households, Colorado’s seasonally adjusted unemployment rate was flat from October to November at 3.3 percent. The number of unemployed individuals grew by 1,900 over the same time period to 107,900. The national unemployment rate decreased two-tenths of a percentage point to 3.7 percent from October to November.

Colorado’s labor force rose by 2,700 in November to 3,249,700. The share of Coloradans participating in the labor force was unchanged at 68.4 percent in November, compared to the month prior. The U.S. labor force participation rate was 62.8 percent in November, growing one-tenth of a percentage point from the month prior.

The number of individuals employed in Colorado increased by 800 in November to 3,141,900, which represents 66.2 percent of the state’s 16+ population. Colorado’s employment-population ratio of 66.2 in November was unchanged from the month prior. The national employment-population ratio climbed three-tenths of a percentage point to 60.5 percent in November, compared to the October rate of 60.2 percent.

Over the year, the average workweek for all Colorado employees on private nonfarm payrolls rose from 33.1 to 33.5 hours, while average hourly earnings grew from $35.35 to $36.93. Colorado average hourly earnings are two dollars and eighty-three cents higher than national average hourly earnings of $34.10.

These are the unemployment percentages for several counties in southeast Colorado: