Overall unemployment rate moved down to 5.9% with the biggest shift in Restaurants & Hotels, which gained 7,900 roles, based on the most recently available information published in June 2021.
Total employment in the Denver-Aurora-Lakewood, CO market rose by 7,388 jobs in May and the unemployment rate decreased compared to the prior month by 50 bps to 5.9%. The national unemployment rate decreased by 25 bps over the same time to 5.5%.
- Denver-Aurora-Lakewood, CO unemployment rate is 40 bps above the national rate which is a negative sign.
- Unemployment in the market is 630 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 1.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:
- Transportation & Utilities: 283,500; +200
- Business Services: 282,100; +5,000
- Government: 203,600; +3,100
- Education & Healthcare: 192,700; -1,300
- Restaurants & Hotels: 141,700; +7,900
- Financial Services: 111,200; -700
- Construction, Mining: 108,700; +2,600
- Manufacturing: 69,200; +200
- Other Jobs: 57,000; -1,400
- IT & Development: 49,600; -300
Data is based on the most recent 12 months available, through May 2021 (Data published June 2021 and reports created on June 30, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.