The most recent economic data from the U.S. Bureau of Labor Statistics show a decrease in the state and national unemployment rates, this time for the right reasons. The Colorado unemployment rate was down 0.2 percentage points from 8.2 percent in August to 8.0 percent in September. The decrease in the unemployment rate for the month of September was due to an increase in the employment level rather than a decrease in the labor force. According to the Local Area Unemployment Statistics survey, the number of people employed in Colorado increased by more than 7,000 during the month of September. Also, enrollment in public assistance programs such as Medicaid, CHP+ and SNAP continued to increase in the month of September.
The unemployment rate in Colorado decreased for the second straight month in September. The rate fell 0.2 percentage points, from 8.2 percent in August to 8.0 percent in September. (Figure 1) The unemployment rate at the national level also decreased this past month, from 8.1 percent in August to 7.8 percent in September. Fortunately, the decreases in both the national and Colorado rates were for the right reasons. The rates were down because of an increase in employment, not because of people exiting the labor force, a sign that the job market may be improving.
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In the latest edition of Colorado Recovery Watch, Rice Fellow Andrew Ball examines a range of data showing where the state of Colorado stands on the road to economic recovery.
Colorado Recovery Watch is a monthly snapshot of economic data, with a special focus on jobs and public-assistance programs. Read it online, along with other analysis of jobs and economic security from the Colorado Center on Law and Policy.