Financial Affairs |
In July 2025, Colorado's job market displayed a promising growth, with employers adding 3,700 nonfarm payroll jobs, according to the latest update from the Colorado Department of Labor and Employment [1][2]. This positive trend came after a revised job loss of 2,700 jobs in June [2].
Construction was one of the leading sectors contributing to job growth in July, with 3,800 jobs added, illustrating robust hiring activity within this industry [1]. The leisure and hospitality sector also experienced significant growth, with an increase of 6,600 jobs in July, outpacing construction gains in absolute numbers [2].
However, the trade, transportation, and utilities sector saw a decline, losing the most jobs among sectors in July despite construction growth [2]. Despite this setback, healthcare and nursing/personal services were other notable contributors to job posting growth during the second quarter, growing significantly and contributing to the state’s positive vacancy trend [3].
Colorado's unemployment rate decreased from 4.7% in June to 4.5% in July, alongside a reduction of 7,200 unemployed residents [1][2]. The labor force participation rate slightly edged down to 67.6%, mirroring a modest contraction of the labor force by 2,700 people [1][2].
The private sector jobs increased by 2,900, and government jobs rose by 800 from June to July [1]. Wage transparency also increased, with over 76% of job ads showing pay information, and median full-time salaries rising to around $62,494-$64,823, reflecting higher pay levels contributing to job market strength [3].
However, some segments like entry-level job postings declined significantly, indicating potential challenges for new entrants into the workforce [3].
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References: [1] Colorado Department of Labor and Employment, Monthly Update, July 2025. [2] Colorado Department of Labor and Employment, Revised Job Loss in June 2025. [3] Colorado Department of Labor and Employment, Q2 2025 Job Market Report. [4] Breaking Business News, Email Alerts for Latest News Updates.
The decline in the trade, transportation, and utilities sector, despite construction growth, highlights a need for favorable transportation policies to support job creation and economic growth in Colorado [2]. The robust hiring activity within the construction industry suggests that pro-business policies may positively impact employment in this sector [1]. With more job ads showing pay information and median salaries rising, financial and business leaders might consider supporting policies that encourage wage transparency to retain and attract top talent in the state [3].
