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Colorado's Unemployment Hits Three-Year High at 4.4%

1/28/2025

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Summary

Story summary

Colorado's unemployment rate increased to 4.4% in December 2024, marking a three-year high.
Job growth slowed to 1.6%, with about 49,000 nonfarm jobs added in 2024.
Despite rising unemployment, job openings indicate a growing labor force participation rate of 67.9%.
The U.S. Bureau of Labor Statistics has suspended detailed employment reports for Colorado due to data quality issues.

History

Historical Context

Colorado's unemployment rate rose to 4.4% in December 2024, the highest since 2021. This mirrors trends from the 2007-2009 recession, when unemployment peaked at 10%. Economic shifts, including an aging workforce and skill mismatches, continue to challenge labor markets, impacting job growth and participation rates.

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Story summary

Colorado's unemployment rate increased to 4.4% in December 2024, marking a three-year high.
Job growth slowed to 1.6%, with about 49,000 nonfarm jobs added in 2024.
Despite rising unemployment, job openings indicate a growing labor force participation rate of 67.9%.
The U.S. Bureau of Labor Statistics has suspended detailed employment reports for Colorado due to data quality issues.

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