Colorado unemployment drops despite weaker than expected hiring | AspenTimes.com

Colorado unemployment drops despite weaker than expected hiring

The Associated Press

DENVER — A forecast last December from the University of Colorado Boulder showed Colorado’s unemployment rate was expected to rise from 3.5 percent to 3.9 percent this year.

The Denver Post reported Monday the state’s labor markets took an unexpected turn, as Colorado’s unemployment rate dipped to a historic low of 2.3 percent in April and stayed there in May and June, despite slower than expected job gains.

Associate director of the Business Research Division at the Colorado Leeds School of Business Brian Lewandowski says Colorado employment in 2017 is now projected to increase by 55,800, or 2.2 percent.

University of Colorado Boulder forecasters in December were calling for the addition of 63,400 jobs, which represented a 2.4 percent rate of growth.