Colorado Unemployment Drops To 5.5 Percent
DENVER (CBS4)- The unemployment rate in Colorado dropped to 5.5 percent in June, a decrease of three-tenths of a percentage point.
The last time Colorado unemployment rate was 5.5 percent or lower was October 2008 when the rate was 5.3 percent.
Last year’s unemployment rate in Colorado for June was 6.9 percent.
Nonfarm payroll jobs increased 3,000 over the month from May to June. Private sector payroll jobs decreased 300 and government increased 3,300.
Colorado has had 32 consecutive months of payroll job gains.
“Our continued economic progress and job growth are welcome news for Colorado workers, job seekers, and business owners. The Great Recession dealt a painful blow, and we are now in a position to turn a slow but steady recovery into strong and consistent growth. Colorado is full of hardworking and talented people, and we are poised to reach new economic heights,” said Rep. Diana DeGette, a Democrat representing Colorado, in a statement.
The national unemployment rate declined two-tenths of a percentage point in June to 6.1 percent.
The largest job gains were in trade, transportation and utilities. The largest declines were in financial activities, construction and leisure and hospitality.