Overall unemployment rate moved down to 3.5% with the biggest shift in Government, which gained 2,300 roles, based on the most recently available information published in November 2022.
Total employment in the Colorado Springs, CO market rose by 3,396 jobs in September and the unemployment rate decreased compared to the prior month by 10 bps to 3.5%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Colorado Springs, CO unemployment rate is 18 bps above the national rate which is a negative sign.
- Unemployment in the market is 130 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 4.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Government: 55,200; +2,300
- Business Services: 49,700; -700
- Transportation & Utilities: 48,500; -100
- Education & Healthcare: 44,500; +500
- Restaurants & Hotels: 41,200; -200
- Other Jobs: 19,900; +200
- Financial Services: 19,200; no change
- Construction, Mining: 18,600; -500
- Manufacturing: 12,100; +200
- IT & Development: 5,200; -100
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.