Colorado unemployment rate crept up in January

DENVER — Colorado’s seasonally adjusted unemployment rate increased slightly in January to 3.4%, up from 3.3% in December.

Meanwhile, the national jobless rate was unchanged at 3.7%.

While the share of Coloradans participating in the labor force fell from 68.3% in December to 68.1% in January, the Colorado Department of Labor and Employment reported that the state still added 8,000 nonfarm jobs over that month.

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Boulder County’s not-seasonally adjusted unemployment rate in January was 3.4%, up from 2.6% during the same month in 2022. In Broomfield, the January 2023 and January 2022 rates were 3.6% and 2.7%, respectively. Larimer County 3.4 and 2.8, and Weld County 4% and 3.3%

Over the year, the average workweek for all Colorado employees on private nonfarm payrolls declined from 33.5 to 32.4 hours, while average hourly earnings grew from $35.90 to $37.23, more than the national average hourly earnings of $34.55, according to CDLE.