August unemployment dips below 6%, down across NoCo, Boulder Valley

DENVER — For the first time since March 2020, the start of the COVID-19 pandemic economic downturn, Colorado’s seasonably adjusted unemployment rate dipped below 6% in August, according to data released Friday by the Colorado Department of Labor and Employment.

August’s jobless rate was 5.9%, down from 6.1% the previous month. 

While moving in the right direction, Colorado’s rate still lags the national average of 5.2%.

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Counties in the Boulder Valley and Northern Colorado regions are outpacing the state in terms of jobs recovery.

Boulder County led the way with an unadjusted unemployment rate of 4.4% in August, down from 4.9% in July.

Broomfield County posted a 4.6% rate, a dip from 5% the previous month.

Larimer County had a jobless rate of 4.7% in August compared with 5.2% in the previous month.

Weld County, the only local county to top 5% in August, had a rate of 5.6%, down from 6.3% in July. 

Employers in Colorado added 5,600 nonfarm payroll jobs from July to August for a total of 2,736,600 jobs, according to the state.

Colorado’s job recovery rate of 78.1% exceeds the national rate of 76.2%.

Over the year, the average workweek for all Colorado employees on private nonfarm payrolls was unchanged at 34.3 hours, while average hourly earnings increased from $30.69 to $32.19. That compares favorably with the national average hourly earnings of $30.73.

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