DENVER – Colorado’s seasonally adjusted unemployment rate fell one-tenth of a percentage point to a historic low of 2.5% in December, the Colorado Department of Labor and Employment said.
The rate announced Friday is the lowest since a 1976 change in the way unemployment rates were calculated, the agency said.
The unemployment rate is calculated based on 80,200 people who were actively looking for work in Colorado out of a civilian labor force of 3.17 million people. Colorado’s unemployment rate was 3.6% in December 2018, when 113,500 people were looking for work.
Average hourly earnings increased from $29.88 to $30.77 over the past year, the labor department said.
The seasonally adjusted U.S. unemployment rate was 3.5% in December 2019.