Overall unemployment rate moved down to 3.3% with the biggest shift in Restaurants & Hotels, which lost 3,300 roles, based on the most recently available information published in September 2022.
Total employment in the Denver-Aurora-Lakewood, CO market rose by 13,011 jobs in August and the unemployment rate decreased compared to the prior month by 20 bps to 3.3%. The national unemployment rate stayed flat over the same time period at 3.8%.
- Denver-Aurora-Lakewood, CO unemployment rate is 49 bps below the national rate which is a positive sign.
- Unemployment in the market is 200 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 5.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.1% . Key sectors include:
- Business Services: 319,600; +1,300
- Transportation & Utilities: 287,600; +800
- Education & Healthcare: 195,500; +2,100
- Government: 192,500; +500
- Restaurants & Hotels: 169,600; -3,300
- Construction, Mining: 117,100; +800
- Financial Services: 114,400; -500
- Manufacturing: 73,400; -300
- Other Jobs: 62,700; +100
- IT & Development: 53,900; -300
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.