Mesa County's Unemployment Rate: A Minor Uptick Amid Stability
Mesa County, Colorado, sees a slight uptick in unemployment rate in December 2023, marking the first increase since 2020. Despite this, the labor market remains stable overall, with expectations of improved job growth in 2024. In December 2023, Mesa County, Colorado, experienced a slight increase in the seasonally unadjusted unemployment rate from 3.2% in November to 3.5% in December. This marked the first time since 2020 that the rate had risen since 2020. Despite this fluctuation, the broader labor market remained stable throughout the year. The increase was attributed to a slowdown in trade-based industries and a decrease in entry-level job listings in customer and food service sectors. Despite these changes, Lindsay Bullock remains optimistic about the county's economic prospects for 2024, anticipating low unemployment rates and increased job growth. Meanwhile, across Western Colorado, unemployment trends varied in December, with Garfield and Rio Blanco counties seeing decreases, Delta County experiencing an increase, while Montrose County remained steady.
Published : 3 months ago by BNN Correspondents in World
In December 2023, a minor yet noteworthy shift occurred in the economic landscape of Mesa County, Colorado. For the first time since 2020, the region witnessed a slight increase in the unemployment rate. Based on data from the Colorado Department of Labor and Employment, the seasonally unadjusted rate rose from 3.2% in November to 3.5% in December.
Stability in the Midst of Fluctuations
Despite this uptick, the broader labor market in Mesa County demonstrated considerable resilience throughout 2023. The unemployment rate saw only a modest fluctuation of 1.1 percentage points over the year. February and July saw the highest rates at 3.8%, while the lowest—2.7%—was recorded in April. When compared to December 2022, when the rate stood at 2.9%, the current rise appears relatively minor.
Attributing factors to the December increase, Lindsay Bullock, manager of the Mesa County Workforce Center, pointed out a slowdown in trade-based industries and a decrease in entry-level job listings in customer and food service sectors. However, despite the decline in payrolls and labor force in December, the yearly figures reveal a slight growth in both areas.
Despite the recent shift, Bullock remains upbeat about Mesa County’s economic prospects for 2024. She anticipates low unemployment rates and improved job growth, bolstered by new businesses entering the region and expansion of existing ones.
Meanwhile, across Western Colorado, unemployment trends varied in December. Garfield and Rio Blanco counties saw decreases, Delta County experienced an increase, while Montrose County held steady. Similarly, Colorado’s statewide unemployment rate also nudged up slightly to 3.4%.
Throughout 2023, Colorado observed modest growth in nonfarm payrolls, largely in government jobs. There were also increases in specific sectors like leisure and hospitality, educational and health services, and professional and business services. Yet, some sectors experienced job losses, such as financial activities, construction, manufacturing, and the trade, transportation, and utilities sector.
Topics: Unemployment