Colorado added 9,000 jobs in December and November jobs were revised upwards by 5,000. The combined growth over the last two months of 2021 of 23,100 jobs presents a stark contrast to the prior year, when the two months combined for 25,500 job losses.
Despite concerns of rising inflation and a new COVID-19 variant, November job growth in Colorado remained relatively strong at 9,800 jobs. This is above the monthly average job growth needed to fully recover to a pre-pandemic employment-to-population ratio by 2023.
In April 2020, Colorado lost over 360,000 jobs, experienced the worst month of economic performance in its history, and launched into a deep and abiding recession. A little over a year later, the latest data from the Bureau of Labor Statistics (BLS) show that, though Colorado’s workforce has already endured the worst of the recession and is ahead of pace to recover fully by 2023, much progress remains to be made.
The latest Bureau of Labor Statistics (BLS) jobs and labor force data shows that, while the state has made significant progress from the April 2020 low points, achieving full recovery will take significantly more time.