On March 1, the Bureau of Labor Statistics released a report with annual unemployment rates for 2022. Between 2021 and 2022, the national unemployment rate fell from 5.3 percent to 3.6 percent, per the new report.
Here in Colorado, the state unemployment rate dropped from 5.4 percent in 2021 to 3.0 percent in 2022. And, the number of people in the civilian labor force increased by 43,000.
Across the Mountain West region, the unemployment rate dropped from 5.0 percent in 2021 to 3.5 percent in 2022, one of the lowest regional unemployment rates in the country.
The full report can be found here.