Overall unemployment rate moved down to 3.2% with the biggest shift in Government, which gained 6,100 roles, based on the most recently available information published in November 2022.
Total employment in the Denver-Aurora-Lakewood, CO market rose by 2,854 jobs in September and the unemployment rate decreased compared to the prior month by 10 bps to 3.2%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Denver-Aurora-Lakewood, CO unemployment rate is 12 bps below the national rate which is a positive sign.
- Unemployment in the market is 150 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 5.2% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.3%. Key sectors include:
- Business Services: 319,000; -600
- Transportation & Utilities: 285,300; -2,900
- Government: 202,900; +6,100
- Education & Healthcare: 197,800; +2,000
- Restaurants & Hotels: 163,900; -5,100
- Construction, Mining: 114,100; -1,300
- Financial Services: 111,200; -2,500
- Manufacturing: 72,000; -400
- Other Jobs: 63,100; +100
- IT & Development: 53,100; -600
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.