Unemployment Rates Drop In Larimer County, Statewide
Colorado's overall unemployment rate is trending in the right direction.
According to the Loveland Reporter-Herald, unemployment rates in Larimer County and statewide have dropped since August, as Colorado added 13,400 nonfarm jobs during the month of September.
In a press release from Tuesday (Oct. 20), The Colorado Department of Labor and Employment said Colorado’s labor force grew by 59,600 last month, totaling 3,147,400.
Leisure and hospitality businesses within the state added approximately 8,000 new jobs after the industry took a massive hit due to the COVID-19 pandemic. Trade, transport and utilities firms were also reported to have added about 6,000 jobs.
The Colorado Department of Labor and Employment also said that private payrolls grew by 20,800 in the month, although there were 7,400 cuts made at public-sector establishments within in the state.
To compare state and national unemployment stats, the job recovery rate in Colorado is currently at 56.7 percent, whereas the job recovery rate in the U.S is at 51.5 percent.
From a county level, Larimer County’s unemployment rate dropped from 5.6% in August to 5.2% in September. Weld County's unemployment rate dropped from 6.6% to 6.3% during the same time.
The City of Fort Collins has one of the lowest unemployment rates out of Colorado's metropolitan areas, which currently stands at 5.2%.
Huerfano County holds the highest unemployment rate in the state at 8.3%.