Colorado unemployment rate falls to 6.8 percent; record decline in labor force
DENVER — Colorado’s unemployment rate has declined to 6.8 percent, the lowest rate in nearly five years.
The Colorado Department of Labor and Employment said Friday the jobless rate for October fell by a tenth of a percentage point from the September rate.
October’s rate was the lowest since January 2009, when it was 6.7 percent.
The department says the number of people reporting themselves as employed actually dropped by 7,400 in October, but that was more than offset by a decline of 13,400 in the labor force.
The largest job decreases were in the trade, transportation and utilities, construction and information sectors.
Job increases were reported in professional and business services, education and health services, leisure and hospitality and manufacturing.
The national unemployment rate in October was 7.3 percent.