Colorado unemployment at 2.8% for January | Colorado

(The Center Square) – Colorado’s unemployment charge for January was once 2.8%, in step with the state’s exertions division.

“As revised, Colorado’s unemployment rate has remained below 3.0 percent for nine consecutive months and has returned to pre-pandemic levels,” the Colorado Department of Labor and Employment said.

The state added 8,000 to the exertions drive in January, bringing the exertions drive participation charge to 68.1%, the dept mentioned.

Gov. Jared Polis touted the employment numbers in a statement on Monday.

“With Colorado’s unemployment rate dropping below three percent, it is clear that Colorado is the best place to live, work, and do business,” the governor mentioned. “More entrepreneurs are starting businesses in our state and we are outcompeting other states for businesses and jobs.”

While the state’s unemployment charge was once 2.8%, the similar as December, “the state has still not recovered to the pre-pandemic employment-to-population ratio,” in step with an analysis of Bureau of Labor Statistics information by means of the Common Sense Institute, a free-enterprise assume tank.

Professional/trade products and services added 1,300 jobs in January, building misplaced 1,100 jobs, production misplaced 700 jobs, and humanities/leisure/sport misplaced 700 jobs.

“The pandemic caused a major shock to the composition of Colorado’s job market in early 2020 and may have induced some structural change in the long run,” CSI’s research added.