Overall unemployment rate moved down to 3.6% with the biggest shift in Restaurants & Hotels, which lost 700 roles, based on the most recently available information published in September 2022.

Total employment in the Colorado Springs, CO market rose by 1,464 jobs in August and the unemployment rate decreased compared to the prior month by 30 bps to 3.6%. The national unemployment rate stayed flat over the same time period at 3.8%.

  • Colorado Springs, CO unemployment rate is 19 bps below the national rate which is a positive sign.
  • Unemployment in the market is 190 bps below the unemployment rate in the market last year at this time, which is a positive.
  • Average wages (per hour) grew in August versus prior month by 5.4% and are down compared to last year at this time in the market.
Month over Month Unemployment Change
Year over Year Unemployment Change
Colorado Springs, CO Unemployment August 2022

For key employment segments of the market, total jobs declined by -0.3%. Key sectors include:

  • Government: 53,000; +300
  • Business Services: 50,700; -300
  • Transportation & Utilities: 48,700; +100
  • Education & Healthcare: 44,000; +400
  • Restaurants & Hotels: 41,100; -700
  • Other Jobs: 19,600; no change
  • Financial Services: 19,200; -400
  • Construction, Mining: 19,100; -400
  • Manufacturing: 12,000; +100
  • IT & Development: 5,300; no change
Colorado Springs, CO Unemployment by Industry August 2022

Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022).  Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.