Colorado unemployment ticks up to 3.1 percent for April
DENVER (AP) -- The Colorado Department of Labor and Employment says unemployment ticked up to 3.1 percent for April in the state.
The Denver Post reported Friday (http://tinyurl.com/jhd4gzc ) that that breaks a 63-month streak. Since January 2011, Colorado's seasonally adjusted unemployment rate either moved lower than or matched the previous month's, falling from 8.8 percent to a low of 2.9 percent in March.
Broomfield economist Gary Horvath says the unemployment rate couldn't have gone much lower than March's mark without creating larger problems for the labor market.
Even with the increase, Colorado's unemployment rate remains at its lowest levels since the early 2000s. The tight labor market contributed to a boost in average hourly earnings from $26.85 an hour in March to $27.44 an hour in April.