DENVER — The presidential election is still several months away, but in this critical November swing state, the state’s economy appears to be trending in the right direction — for job seekers and a President battling for a second term.
Colorado’s unemployment rate dropped again in January to 7.8 percent, the state’s lowest rate in almost three years, the Dept. of Labor and Employment reported Tuesday morning.
It marks the fifth straight month of job growth — and a full percentage point improvement over the 8.8 percent unemployment rate in Colorado exactly a year ago.
Compare that to the national unemployment rate, which has only dropped from 8.5 percent to 8.3 percent over the same 12-month period.
Employers in Colorado added 19,500 nonfarm payroll jobs from December to January for a total of 2,284,800 jobs, according to the survey of business establishments, according to the press release.
Private sector payroll jobs increased 22,500 and government decreased 3,000.
The largest over-the-month private sector job gains were in construction, professional and business services and leisure and hospitality. There were no significant over-the-month declines in the private sector.