Colorado Employment Situation – March 2024

5,300 Nonfarm Payroll Jobs Added in March; Unemployment Rate Rises to 3.7 Percent

Household survey data

• According to the survey of households, Colorado’s seasonally adjusted unemployment rate increased two-tenths of a percentage point in March to 3.7 percent compared to the February rate of 3.5 percent. The number of unemployed individuals grew by 3,700 over the same time period to 118,200. The national unemployment rate decreased one-tenth of a percentage point to 3.8 percent from February to March.
• Colorado’s labor force decreased by 300 in March to 3,235,300. The share of Coloradans participating in the labor force declined one-tenth of a percentage point to 68.0 percent in March, compared to the month prior. The U.S. labor force participation rate was 62.7 percent in March, growing two-tenths of a percentage point from the month prior.
• The number of individuals employed in Colorado declined by 4,000 in March to 3,117,100, which represents 65.5 percent of the state’s 16+ population. Colorado’s employment-population ratio of 65.5 in March was one-tenth of a percentage point lower compared to the February rate of 65.6 percent. The national employment-population ratio increased two-tenths of a percentage point in March to 60.3 percent.
• Establishment survey data
• Employers in Colorado added 5,300 nonfarm payroll jobs from February to March for a total of 2,983,300 jobs, according to the survey of business establishments. Private sector payroll jobs grew by 2,700, while government added 2,600 jobs.
• February estimates were revised up to 2,978,000, and the over the month change from January to February was a gain of 10,700 rather than the originally estimated increase of 8,500 (monthly revisions are based on additional responses from businesses and government agencies since the last published estimates).
  

  County	March 2024 labor force	March 2024 Employed	March 2024 Unemployed	March 2024 rate	February 2024 Employed	February 2024 Unemployed	February 2024 rate
  Baca	1950	1898	53	2.7	1869	59	3.1
  Bent	1734	1677	57	3.3	1659	58	3.4
  Kiowa	821	796	25	3.0	772	26	3.3
  Las Animas	5768	5430	338	5.9	5425	366	6.3
  Otero	7477	7135	342	4.6	7031	372	5.0
  Prowers	6083	5880	203	3.3	5825	204	3.4

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