Colorados labor force participation has fallen to its lowest level on record, according to the latest data from the Colorado Department of Labor and Employment.
The share of people working or actively looking for work dropped to 65.2 % in September the lowest since records began in 1976.
Denver7 anchor Jessica Porter has the story in the video below:
Colorado's workforce is shrinkingThe states labor force shrank by 3,100 people in September.
MSU Denver Economics Professor Kishore Kulkarni says the workforce is declining because more baby boomers are retiring, more people are moving out of Colorado because of the cost of living, and A.I. is replacing jobs.
It's not very concerning because our productivity is still pretty high. We are producing more goods and services, not just in Colorado but also in the U.S. as a whole, Kulkarni said.
The Colorado Department of Labor and Employment report found Colorados seasonally adjusted unemployment rate rose one-tenth of a percentage point to 4.1% in September.
The report also showed some positives. Employers gained 2,400 non-farm payroll jobs during that period, and private sector payroll jobs increased by 3,000.
