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Colorado Unemployment Drops Despite Weaker Than Expected Hiring

DENVER (AP) — A forecast last December from the University of Colorado Boulder showed Colorado's unemployment rate was expected to rise from 3.5 percent to 3.9 percent this year.

The Denver Post reported Monday the state's labor markets took an unexpected turn, as Colorado's unemployment rate dipped to a historic low of 2.3 percent in April and stayed there in May and June, despite slower than expected job gains.

Associate director of the Business Research Division at the Colorado Leeds School of Business Brian Lewandowski says Colorado employment in 2017 is now projected to increase by 55,800, or 2.2 percent.

Unemployment Line
Unemployment line in Colorado (credit: CBS)

University of Colorado Boulder forecasters in December were calling for the addition of 63,400 jobs, which represented a 2.4 percent rate of growth.

(© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.) 

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