Colorado’s unemployment rate has increased every month since the beginning of 2024, growing from 3.3% in December of 2023 to 3.7% in March of this year, a growth of 12%.
Common Sense Institute tracked Colorado’s major economic highlights from 2023 in the following categories: jobs, inflation, labor force, and population.
After losing 6,200 jobs between October and December of 2023, Colorado’s private added 5,600 jobs in January. This is the largest single month growth in the state’s private sector since June of 2023.
In recent months, Colorado’s employment growth has been sustained by robust government job gains in excess of private sector job losses. While Colorado added 300 total non-farm jobs in December, the private sector declined for the fourth straight month, losing 1,700 jobs.
Colorado’s private-sector employment declined for the 3rd-straight month in November by 2,100 jobs. The last time Colorado experienced consecutive months of private-sector job loss was during the early months of 2020.