Colorado's Job Market: A Disconnect Between Job Openings and Unemployment Rates

Colorado is experiencing a disconnect between its 190,000 job openings and 95,000 unemployed people, leading economists to suggest a shortage of able-bodied workers. The state's labor market is tight, with a rate of about 2 or 2.5 job openings per unemployed worker, higher than pre-pandemic levels. The mismatch between the skills required in unfilled jobs and the skills of job seekers, as well as the lack of childcare options for women with children, may be contributing factors. The state's labor force is the largest it has ever been, but the participation rate is lower than in the past, particularly among parents and those with lower levels of education. Solutions proposed include reassessing job requirements and reaching out to underemployed individuals to bridge the gap between labor supply and demand.