Overall unemployment rate moved down to 3.1% with the biggest shift in Business Services, which gained 4,300 roles, based on the most recently available information published in June 2022.
Total employment in the Denver-Aurora-Lakewood, CO market rose by 12,243 jobs in May and the unemployment rate decreased compared to the prior month by 10 bps to 3.1%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Denver-Aurora-Lakewood, CO unemployment rate is 28 bps below the national rate which is a positive sign.
- Unemployment in the market is 270 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 7.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Business Services: 311,400; +4,300
- Transportation & Utilities: 287,000; -2,000
- Government: 202,900; +2,100
- Education & Healthcare: 194,800; +1,600
- Restaurants & Hotels: 166,600; +3,400
- Financial Services: 116,900; +600
- Construction, Mining: 113,000; +2,100
- Manufacturing: 72,400; -200
- Other Jobs: 61,800; -100
- IT & Development: 52,500; -100
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.