Colorado’s unemployment rate has recorded an increase for the eighth consecutive time this year, surpassing the national rate for the first time since 2021. The state’s unemployment rose from October to November by two-tenths of a percentage point, settling at 4.3%. This surpassed the national rate of increase, which was only one-tenth of a percentage point, reaching 4.2%. This shift marks the first time since December 2021 that Colorado’s unemployment rate had surpassed the national average.

The Colorado Department of Labor and Employment reveals that the state’s unemployment rate has ranged between 3.3% and 4.3% over the past year. In contrast, the national rate has mainly fluctuated between 3.7% and 4.3%. The total number of unemployed individuals in Colorado is now 139,300. Despite the rise in unemployment rates, the figure of 4.3% for November still lies within the threshold that economists consider full employment.

The state’s unemployment rate has been increasing continuously since August 2022, when it was at its lowest since the start of the pandemic at 2.6%. An instrumental change from October to November was the loss of 3,900 nonfarm payroll jobs. This is the first time since November 2023 that changes in nonfarm payroll jobs from one month to the next dipped into negative figures.

The private sector saw the loss of 5,500 payroll jobs last month, with the major losses occurring in professional and business services, and trade, transportation, and utilities. Concurrently, government jobs saw an increase of 1,600.

Colorado’s labor force participation rate in November remained steady at 67.9%, remaining unchanged for seven months. This consistency, together with the rising unemployment rate, indicates that while more individuals within the existing labor force are actively seeking employment, they are unable to find work. This situation may be suggestive of a weakening job market where available jobs do not meet the demand from those currently seeking employment.

If you are in Colorado and facing unemployment, getting in touch with the California Employment Development Department (EDD) might be quite beneficial. They provide a variety of services, including finding job opportunities, improving job skills, and applying for unemployment benefits. For more information on how to get in touch with EDD, visit eddcaller.com. Their platform provides a comprehensive guide on how to reach california unemployment customer service effectively. It includes tips on the best times to call, to increase your chances of getting through and receiving the help you need.