State's jobless rate declines to 3.5 percent
James Paton, Rocky Mountain News
Saturday, May 19, 2007
Colorado's jobless rate fell again last month, declining to 3.5 percent, the lowest level since June 2001, the state's department of labor said.
The information sector, which includes telecom, finally stopped the bleeding, adding 1,000 jobs over the year and ending a losing streak of 69 straight months.
Despite favorable news, "rising gas prices, a tepid national economy and softness within some segments of construction continue to constrain overall employment growth," Don Mares, director of the state's department of labor and employment, said in a statement.
Colorado saw employment growth of 2.1 percent in the past 12 months, adding 47,600 jobs, the report showed. Professional and business services, government, leisure and health services led the way.
The number of people "unsuccessfully seeking work" in Colorado has dropped by nearly 24,000 in the past year, according to the figures.
The state's 3.5 percent unemployment rate compared with 4.5 percent for the nation. Colorado's jobless rate was 4.4 percent in April 2006.
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