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Bureau of Labor Statistics > Geographic Information > Mountain-Plains > News Release
News Release Information

24-1045-KAN
Thursday, May 23, 2024

Contacts Technical information: Media contact:
  • (816) 285-7000

Colorado Job Openings and Labor Turnover — March 2024

Colorado had 204,000 job openings in March 2024, compared to 201,000 openings in February, the U.S. Bureau of Labor Statistics reported today. (See table 1.) Assistant Commissioner for Regional Operations Michael Hirniak noted that the job openings rate in Colorado was 6.4 percent in March and 6.3 percent in the previous month. (See chart 1 and table 2.) The job openings rate nationally was 5.1 percent in March and 5.3 percent in February. (See table 3.) All data in this release are seasonally adjusted.

  Chart 1. Job openings rates for the United States and Colorado, seasonally adjusted
View Chart Data

The ratio of unemployed persons per job opening in Colorado was 0.6 in March. Nationwide, 35 states and the District of Columbia had ratios in March that were lower than the national measure of 0.8 unemployed persons per job opening; 8 states had ratios that were higher than the national ratio, and 7 states had ratios equal to the national measure. (See map 1.)

Map 1. Number of unemployed persons per job opening by state, March 2024, seasonally adjusted

(U.S. ratio = 0.8)

 

In March, Colorado had 110,000 hires and 106,000 separations, compared to 111,000 hires and 114,000 separations in February. (See chart 2.) Over the 12 months ending in March, hires have averaged 116,000 per month and separations have averaged 112,000 per month. These averages include workers who may have been hired and separated more than once during the year.

  Chart 2. Hires and total separations in Colorado, seasonally adjusted (in thousands)
View Chart Data

Among the March separations in Colorado, 67,000 were quits and 33,000 were layoffs and discharges, compared to 75,000 quits and 33,000 layoffs and discharges in February. (See chart 3.) Over the last 12 months, quits averaged 73,000 per month, ranging from 63,000 to 88,000. Layoffs and discharges have averaged 33,000 per month, ranging from 27,000 to 41,000.

  Chart 3. Quits and layoffs and discharges in Colorado, seasonally adjusted (in thousands)
View Chart Data

The State Job Openings and Labor Turnover Survey estimates for April 2024 are scheduled to be released on Tuesday, June 18, 2024, at 8:00 a.m. (MT).

Upcoming Revisions to the JOLTS Sate Estimates

Effective with the release of May 2024 data on July 24, 2024, the Job Openings and Labor Turnover Survey (JOLTS) state estimates will be benchmarked and revised to include the annual benchmark revisions to JOLTS national estimates, the Current Employment Statistics (CES) employment estimates, and the Quarterly Census of Employment and Wages (QCEW) data. Seasonally adjusted and not seasonally adjusted data from January 2019 forward are subject to revision. In addition, 2023 annual estimates for states will be released at this time.


Technical Note

This news release presents statistics from the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). The JOLTS program provides information on labor demand and turnover. The state estimates produced by JOLTS are model-based incorporating JOLTS sample, Quarterly Census of Employment and Wages (QCEW), and Current Employment Statistics (CES) estimates. For more information see the JOLTS State Estimates Methodology.

Job Openings. Job openings include all positions that are open on the last business day of the reference month. A job is open only if it meets all three of these conditions:

  • A specific position exists and there is work available for that position.
  • The job could start within 30 days.
  • The employer is actively recruiting workers from outside the establishment to fill the position.

The number of unemployed persons per job opening is a ratio of the level of unemployed persons and the level of job openings. The number of unemployed persons at the national level is an estimate from the Current Population Survey (CPS), while state-level unemployment estimates are modeled by the Local Area Unemployment Statistics (LAUS) program. A ratio of 1.0 means there is a job available for every unemployed person. Lower ratios signal tighter labor markets, where firms have more job openings than there are unemployed persons available to work. Higher ratios indicate there are more unemployed persons competing for each job opening.

Hires. Hires include all additions to the payroll during the entire reference month.

Separations. Separations include all separations from the payroll during the entire reference month and is reported by type of separation: quits, layoffs and discharges, and other separations.

  • Quits include employees who left voluntarily, except for retirements or transfers to other locations.
  • Layoffs and discharges include involuntary separations initiated by the employer.
  • Other separations include retirements, transfers to other locations, separations due to employee disability, and deaths.

Levels and rates of other separations represent a small portion of total separations and are not published with the release of state estimates.

Complete definitions, including exclusions, and additional information about the State JOLTS data presented in this release are available in the State Job Openings and Labor Turnover Technical Note.

Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: 202-691-5200; Telecommunications Relay Service: 7-1-1.

Table 1. Job openings and labor turnover for Colorado, seasonally adjusted (in thousands)
EstimateMarch 2023December 2023January 2024February 2024March 2024(p)Change from February 2024 to March 2024(p)

Openings

2142171952012043

Hires

117132114111110-1

Total separations

134104128114106-8

Quits

7763877567-8

Layoffs & discharges

45333433330

(p) Preliminary.

Table 2. Job openings and labor turnover rates for Colorado, seasonally adjusted
EstimateMarch 2023December 2023January 2024February 2024March 2024(p)Change from February 2024 to March 2024(p)

Openings(1)

6.96.86.26.36.40.1

Hires(2)

4.04.53.83.73.70.0

Total separations(3)

4.63.54.33.83.6-0.2

Quits(3)

2.72.12.92.52.2-0.3

Layoffs & discharges(3)

1.61.11.11.11.10.0

(p) Preliminary.
(1) The job openings rate is computed by dividing the number of job openings by the sum of employment and job openings and multiplying that quotient by 100.
(2) The hires rate is computed by dividing the number of hires by employment and multiplying that quotient by 100.
(3) The separations rate is computed by dividing the number of separations by employment and multiplying that quotient by 100. The quits and layoffs and discharges rates are computed similarly.

Table 3. Job openings and labor turnover rates for the United States, seasonally adjusted
EstimateMarch 2023December 2023January 2024February 2024March 2024(p)Change from February 2024 to March 2024(p)

Openings(1)

5.85.35.35.35.1-0.2

Hires(2)

3.83.73.63.73.5-0.2

Total separations(3)

3.83.43.53.53.3-0.2

Quits(3)

2.52.22.22.22.1-0.1

Layoffs & discharges(3)

1.21.01.01.11.0-0.1

(p) Preliminary.
(1) The job openings rate is computed by dividing the number of job openings by the sum of employment and job openings and multiplying that quotient by 100.
(2) The hires rate is computed by dividing the number of hires by employment and multiplying that quotient by 100.
(3) The separations rate is computed by dividing the number of separations by employment and multiplying that quotient by 100. The quits and layoffs and discharges rates are computed similarly.

 

Last Modified Date: Thursday, May 23, 2024