DENVER — Today, Governor Jared Polis and the Colorado Department of Labor and Employment announced that Colorado’s unemployment rate declined to 3.5% in May. Industries like hospitality, manufacturing, professional and business services added over 1,000 good-paying jobs in May, and growth continues to significantly outpace the U.S.
“Colorado’s strong economy continues to grow faster than the rest of the country, with more and more good-paying jobs for Coloradans as we continue our hard work to save people money and lower the costs of everyday items. Colorado remains the best place to live, work, and run a business, and our rapid job growth and plummeting unemployment rates continue to show our strength,” said Gov. Polis.
Strong growth in the labor force participation rate and employment-population ratio continues for a fifth straight month. Colorado’s labor force participation rate increased to 69.4 percent in May, marking the first time since 2012 the state’s rate exceeded 69 percent for two straight months.