Unemployment numbers still trending in right direction | SteamboatToday.com

Unemployment numbers still trending in right direction

Colorado unemployment fell to 3.7 % in March, down from 4% in February, according to a workforce statistics published by the Colorado Department of Labor and Employment.

March’s seasonally adjusted unemployment rate is the lowest it has been in Colorado since February 2021, when it was 2.8%.

Colorado’s labor force participation rate improved to 68.9%, third highest in the nation behind only Nebraska and South Dakota. Since Feb. 2020, Colorado’s change in participation rate ranks 3rd in the country for that time frame. The labor force includes everyone participating in the workforce who is either employed or unemployed and actively seeking work.

The national labor force participation rate is 62.4%, an improving number but still less than what it was prior to the pandemic at 63.4%.

Colorado’s labor force grew by an estimated 12,300 people in March, which was the third straight month with gains of at least 10,000. Colorado’s labor force is at an all-time high at over 3.2 million people.

Support Local Journalism

Support Local Journalism

Readers around Steamboat and Routt County make the Steamboat Pilot & Today’s work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.