All Northwest Workforce Area counties see a decline in unemployment rates |
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Household survey data:
According to the survey of households, Colorado’s seasonally adjusted unemployment rate fell three-tenths of a percentage point in March to 3.7 percent. This marks the lowest rate since February 2020, when it was 2.8 percent. The national unemployment rate declined two-tenths of a percentage point in March to 3.6 percent.
Other highlights:
- Colorado’s labor force grew by 12,300 in March to 3,211,700. The share of Coloradans participating in the labor force improved to 68.9 percent last month, the highest rate since March 2020. The state continues to experience a faster rate of recovery in the participation rate than the U.S.
- The number of individuals employed in Colorado increased by 21,300 in March to 3,093,500, which represents 66.4 percent of the state’s 16+ population. Colorado’s employment-to-population ratio has nearly returned to pre-pandemic levels.
- The Colorado counties with the highest unemployment rates in March were: Huerfano (6.6%), Pueblo (5.7%), Fremont (5.2%), Las Animas (5.0%), and Rio Grande (5.0%). County-level unemployment rates are not seasonally adjusted and are directly comparable to Colorado’s March unadjusted rate of 3.5 percent.
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Business survey data:
Employers in Colorado added 5,800 nonfarm payroll jobs from February to March for a total of 2,834,500 jobs, according to the survey of business establishments. Private sector payroll jobs increased 5,100 and government rose by 700. Over the past 23 months, Colorado has added 389,400 nonfarm payroll jobs, compared to losses totaling 374,500 in March and April 2020. That translates to a job recovery rate of 104.0 percent, which exceeds the U.S. rate of 92.8 percent.
Since May 2020, Colorado’s private sector has grown by 392,300 jobs, compared to declines of 358,800 in early 2020. That translates to a job recovery rate of 109.3 percent and outpaces the U.S. rate of 95.9 percent.
Other highlights:
- February estimates were revised up to 2,828,700, and the over the month change from January to February was a gain of 15,900 rather than the originally estimated increase of 14,100 (monthly revisions are based on additional responses from businesses and government agencies since the last published estimates).
- Private industry sectors with significant job gains in March were: leisure and hospitality (~4,200), professional and business services (~1,300), and manufacturing (~1,000). Significant over the month private sector job loss occurred in construction (~2,300).
- Since March 2021, nonfarm payroll jobs have increased 131,200, with the private sector growing by 121,400 and government adding an additional 9,800 jobs. The largest private sector job gains were in leisure and hospitality (~51,700), professional and business services (~30,300), and trade, transportation, and utilities (~14,200). There were no significant private sector over the year declines. Colorado’s rate of job growth over the past year is 4.9 percent, compared to the U.S. rate of 4.5 percent.
- Over the year, the average workweek for all Colorado employees on private nonfarm payrolls decreased from 33.0 to 32.9 hours, while average hourly earnings grew from $31.32 to $33.85, two dollars and twelve cents more than the national average hourly earnings of $31.73.
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Employees 101: Start to Finish
Are you a new business about to hire your first employee or a seasoned business wondering how to keep employees engaged and motivated? This workshop will provide you with a framework to improve hiring and termination processes and everything in between. You’ll receive important checklists for hiring, performance evaluation, discipline, and termination, as well as the required paperwork for Colorado employees. Join us and learn everything you need to know about employees/teams—from the day they walk into your business to the day they leave.
April 19
9 a.m. - Noon
$45.00
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8 a.m. - 1:15 p.m. | May 5
$25 | Silverthorne, CO
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May 9 - 13, 2022
Multiple events
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8 a.m. - 2 p.m. | May 20
CMC - Steamboat Campus
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Northwest Workforce Region Business Services team |
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Your business services staff, Chris, Mark and Carolyn, are highly trained, resourceful, out-of-the-box thinkers dedicated to businesses, community and economic development. We believe that thriving local economies are the best foundations for businesses to succeed, and that strong businesses contribute to thriving economies and meaningful employment. Our number one goal is to support businesses in attracting and retaining the talent they need to grow and thrive.
Our staff are experts in local labor markets and look forward to helping you with your workforce needs. Contact us to learn more about tailored services and resources to support your business.
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Christina Oxley
Rio Blanco, Moffat, Routt,
Grand and Jackson counties
970.620.1690
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Mark Hoblitzell
East Eagle, Summit
and Lake counties
970.880.4092
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Carolyn Tucker
Garfield, Pitkin and
West Eagle counties
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Northwest Colorado Workforce Center offices |
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If you have a question about unemployment, please contact them directly at 1-800-388-5515. Workforce centers are no longer able to assist with unemployment insurance questions or claims.
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CRAIG
Moffat County
970.824.3246
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EDWARDS
East Eagle County
970.926.4440
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LEADVILLE
Lake County
719.486.2428
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MEEKER
Rio Blanco County
970.878.4211
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FRISCO
Grand, Jackson
and Summit counties
970.668.5361
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GLENWOOD SPRINGS
Garfield, Pitkin and
West Eagle counties
970.945.8638
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STEAMBOAT
SPRINGS
Routt County
970.879.3075
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