Colorado’s employment rate lacks what is needed for a full recovery by 2023 | Focus on Denver

For the second month in a row, job growth indicates a slowing in the pace of recovery in Colorado, according to figures and analysis released Friday by the Common Sense Institute, a Denver-based business think tank.

“As September’s employment levels are 48% below what is needed to see a full recovery by January 2023, there has been a milestone in the workforce data,” Chris Brown, the institute’s vice president of policy and research, said in an email. . “Throughout the pandemic, women, and mothers in particular, have left the workforce at higher rates. “

Brown noted, however, that figures from the Bureau of Labor Statistics in September showed that mothers’ labor force participation rate exceeded pre-pandemic levels for the first time.

The activity rate of mothers reached 76.5%, 0.27% more than in January 2020.

“While the monthly data will remain volatile, this is an important signal that conditions continue to improve,” Brown said.

Colorado added a total of 5,100 non-farm jobs in September. However, to return to pre-pandemic employment levels by January 2023, Colorado needs to create an average of 9,884 additional jobs per month, factoring in population growth, according to Common Sense Institute analysis.

The state’s total employment level is down 78,400 jobs from before the pandemic, ranking Colorado’s recovery 17th among the states.

Idaho and Utah are the only states to have more jobs and workers than before the pandemic, with 12,600 and 48,000 additional jobs, respectively.

New York and Hawaii finished last, still down 8.9% and 13%, respectively.

Read the full analysis from the Common Sense Institute by clicking here.

OVERVIEW |  The best roaming dollar requires real solutions

Common Sense Institute publishes guide to voting on Denver, statewide questions

Common Sense Institute Finds School Dollars Rising, Teacher Salaries Falling


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *