Overall unemployment rate moved up to 2.9% with the biggest shift in Transportation & Utilities, which lost 10,000 roles, based on the most recently available information published in March 2023.
Total employment in the Denver-Aurora-Lakewood, CO market declined by 2,467 jobs in January and the unemployment rate increased compared to the prior month by 10 bps to 2.9%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Denver-Aurora-Lakewood, CO unemployment rate is 96 bps below the national rate which is a positive sign.
- Unemployment in the market is 110 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 7.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.8%. Key sectors include:
- Business Services: 307,600; -5,200
- Transportation & Utilities: 290,800; -10,000
- Government: 198,100; -4,800
- Education & Healthcare: 194,100; -700
- Restaurants & Hotels: 167,000; -1,800
- Financial Services: 114,200; -2,600
- Construction, Mining: 107,600; -2,900
- Manufacturing: 71,400; +100
- Other Jobs: 66,000; -200
- IT & Development: 52,500; -400
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.