Colorado unemployment rate rises to 8%
The unemployment rate of Colorado increased to 8% in April. This happened in spite of the addition of 9,600 jobs in the same month.
Don Mares, the executive director of state Department of Labor and Employment, said “ the state is now seeing thousands of formerly discouraged job seekers who had abandoned their job search renewing their efforts. That influx of workers caused Colorado unemployment rate to bump up in April.”
People, who have lost their jobs and are not actively involved in job search again, are not considered as unemployed until they resume job search.
As per statistics, the estimated number of residents unsuccessfully looking for work increased by 2,700 over the month of April to 212,600.
There were about 2.46 million working Coloradans in April, down from 2.5 million a year ago, the labor department said.
The government has added about 3,000 government jobs and the 4,200 educational and health services jobs. The hiring of workers for Census helped the state to add 800 more jobs. The financial services also added 1,400 jobs. New jobs in wholesale and retail helped the state add 500 jobs in the trade, transportation and utility sector for the month.
But the main concern is that the construction industry is lagging behind. There are just 26,200 jobs in the construction sector now.
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