Friday, May 17, 2013

April Recovery Watch

Colorado unemployment rate drops for eleventh straight month, state economy continues improving 

The unemployment rate continued to decrease in April, falling from 7.1 percent in March to 6.9 percent in April. That marks the lowest unemployment rate since January 2009. The small decline in unemployment is a result of improvement in the labor market. In April, about 4,000 workers entered the labor force, and the number of employed Coloradans increased by about 7,500 according to one measure. Colorado’s unemployment rate remains below the national rate, which also fell in April.

The unemployment rate in Colorado decreased for the eleventh consecutive month in April. The rate fell 0.2 percentage points from 7.1 percent in March to 6.9 percent in April. (See Figure 1.) The unemployment rate in April 2013 was 1.3 percentage points lower than it was in April 2012 and is the lowest unemployment rate since January of 2009 when the unemployment rate was 6.7 percent. However, Colorado’s unemployment rate is still 2.8 percentage points higher than when the recession began in December 2007. Nationally, the unemployment rate also declined slightly from March to April, moving from 7.6 percent to 7.5 percent. The national unemployment rate of 7.5 in April is the lowest since December of 2008 when the rate was 7.3 percent.

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In the latest edition of Colorado Recovery Watch, CCLP policy analyst 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.

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