Unemployment Benefits

In this , Friday, June 21, 2013, photo, a Help Wanted sign is displayed in the window of a restaurant at a shopping center in Charlotte, N.C. The Labor Department reports on the number of Americans who applied for unemployment benefits last week on July 11, 2013. (AP Photo/Chuck Burton)

Colorado's unemployment rate fell in July for the fifth consecutive month to 2.9%, its lowest level since March 2018, the U.S. Bureau of Labor Statistics reported Friday.

Colorado unemployment rate falls to 3%

The jobless rate has continued to fall because employment is growing faster than the available labor, reducing the number of people looking for work, said Ryan Gedney, senior economist for the Colorado Department of Labor and Employment. The tight labor market has continued to push wages higher with the average hourly wage rising 5.1% in July to $30.24.

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