Colorado unemployment rate steadily increasing, hits highest point since the pandemic

News News | Sep 24, 2024

Colorado’s unemployment rate rose to 4% in August — the highest it’s been since January 2022, according to an Aug. 20 report by the Colorado Department of Labor and Employment.

The rise to 4% is only a one-tenth increase to the state’s seasonally adjusted unemployment rate, which translates to roughly 2,200 newly unemployed individuals in the past month for a total of 128,480 unemployed residents, according to state survey data. ... The state is still slightly below the 4.2% national rate, which has decreased by one-tenth of a percentage point since July.

Colorado’s unemployment rate has grown steadily since August 2022, when it hit its lowest level since the pandemic at 2.6%. By January 2024, unemployment had grown to 3%, hitting the 3.5% mark in February and 4% in August.

Of the Coloradans who have experienced unemployment between September 2023 and August 2024, 3.5% are white, 4.9% are of Hispanic origin and 7.6% are Black.

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