Colorado unemployment rate inches up, remains above the national average

Colorado’s unemployment rate rose slightly in March to 4.8%, which is also above the national average of 4.2%.

It ticked up from 4.7% in February, as did the national average from 4.1%, according to a report from the Colorado Department of Labor and Employment released Friday. 

The number of those jobless increased by 1,200 month-over-month, to a total of 156,500. 

The industries showing the most job growth, according to the report, included trade, transportation and utilities — all adding 7,700 jobs. 

The retail sector growth was due to “partially reflecting the return of workers from a strike.” The reference was for the King Sooper strike, which ended on Feb. 17 with a “100-day period of labor peace” so the sides could continue to negotiate a contract. 

Sectors seeing the most job losses included education and health services, which shed 2,400 jobs, followed by leisure and hospitality with 1,800 positions lost.

“Employers in Colorado gained 6,800 nonfarm payroll jobs from February to March for a total of 2,972,800 jobs, according to the survey of business establishments,” the report stated. “Private sector payroll jobs increased by 5,800, while government added 1,000 jobs.”

In the last year, nonfarm payroll jobs grew by 2,300. That was due to the private sector losing 11,500 and the government adding 13,800, according to the report. 

“Colorado’s rate of job growth over the past year is 0.1% below the U.S. rate of 1.2%.”

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