The Denver metro isn’t facing the same economic challenges that have been a forefront conversation during the current 2016 election cycle.
The metro area including Aurora, Denver, Lakewood and the surrounding area finished with a record-low unemployment for September. Just 2.9 percent of the workforce was unemployed last month, according to data released Wednesday from the U.S. Bureau of Labor Statistics.
The last time monthly unemployment dipped below 3 percent was in May 2001. Unemployment in the month of September hasn’t been so low in the Denver metro in more than 15 years. In September 2000, 2.4 percent of workers were unemployed.
But despite the fact more of the workforce is employed compared to in past years, stagnant wages continue to be a problem for thousands across the state.
The average weekly salary for workers in the Denver metro was $1,312 during the first three months of the year. That was down $37 from the first quarter of 2015, according to the U.S. Bureau of Labor Statistics.
Wage data isn’t available for the Denver metro for the second and third quarters of the year.
The most recent employment rate from the state shows average hourly earnings decreased from $26.81 to $26.80 from September 2015 to September 2016. Pay in the Denver metro was up $0.61 per hour year over year in the Denver metro.