Colorado's employment landscape has fared better than the rest of the country, but hold the champagne toast. The state's unemployment rate saw some of the biggest increases in the country, rising by 1.2% to 8.6% in November 2010 from 7.4% during the same time the previous year.
The problem is that the labor force has grown modestly by 0.4% over the past 12 months. And yet, employment reported by households actually fell by 0.9%, suggesting there haven't been enough jobs to go around for all those who want one. Also, the state and local governments have been shedding employees as public finances come under pressure -- similar to what's been happening throughout the country.
Colorado enjoys a modestly lower rate of joblessness compared with the rest of the country thanks in part to its highly educated population, says Mark Hopkins, senior economist with Moody's Analytics, who covers the state.
Private sector jobs have grown some, particularly in the services sector that includes everything from store cashiers to real estate agents to telecommunications specialists. Areas in healthcare, education, as well as leisure and hospitality have also added jobs. But the scale of growth hasn't been broad enough to keep unemployment down.
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