January marked the ninth straight month Colorado’s unemployment rate has been below 3.0%
Recently, Governor Polis and the Colorado Department of Labor and Employment (CDLE) announced Colorado’s unemployment rate has continued to decline and returned to pre-pandemic levels (at 2.8%) in January.
“With Colorado’s unemployment rate dropping below three percent, it is clear that Colorado is the best place to live, work, and do business. More entrepreneurs are starting businesses in our state, and we are outcompeting other states for businesses and jobs,” said Governor Polis. “As we continue to grow our strong economy, I am committed to saving people money, cutting red tape, and expanding opportunities to help support our workforce.”
Colorado’s labor force participation rate (LFPR) increased to 68.1%, just under the pre-pandemic level of 68.6%. Annually, Colorado had the 4th highest LFPR in 2022. Under the Polis administration, Colorado recently outcompeted Georgia and Texas for company expansion.