Colorado’s unemployment rate dipped from 3.5 percent in March to 3.4 percent last month, as fewer people joined the labor force and employers kept hiring, according to a monthly update Friday from the Colorado Department of Labor and Employment.
Monthly hiring accelerated, with employers adding 9,500 nonfarm jobs last month compared to a revised 6,500 jobs added in March. Of the April gain, 8,300 came in the private sector and 1,200 in government.
The biggest monthly gains came in leisure and hospitality, professional and business services, and financial activities. Trade, transportation, and utilities, a category that includes retail jobs, saw the biggest decline.
“In some ways the data is quasi-boring, but ‘boring’ is much better than trying to figure out a recession,” said Broomfield economist Gary Horvath.
Over the past year, the state has added 49,100 payroll jobs and 65,500 additional people joined the labor force. The average workweek for all employees on private nonfarm payrolls decreased from 33.9 to 32.6 hours and average hourly earnings increased from $28.79 to $30.34.
Nationally, the U.S. unemployment rate was 3.6 percent, close to Colorado’s 3.4 percent rate. April was the second month the unemployment rate has dropped in Colorado following a 20-month run of gains.
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