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The March 2026 jobs report showed the labor market regained some momentum, with U.S. nonfarm payrolls increasing by 178,000 after a 92,000 decline in February. The national unemployment rate improved slightly to 4.3% in March, down from 4.4% in February. Job growth in March was led by health care (+76,000), construction (+26,000), and transportation and warehousing (+21,000).
Wage growth remained positive, with average hourly earnings up 3.5% year over year in March, which is still ahead of the latest 2.4% inflation reading, although compensation growth has continued to moderate. For college-educated workers, unemployment remained notably lower than the national average: among workers age 25 and older with a bachelor’s degree or higher, the unemployment rate was 2.8% in March, down from 3.0% in February.
Colorado’s latest officially available statewide unemployment rate remains 3.8% from December 2025. Looking ahead, the labor market still appears resilient but slower and more selective, with healthcare, construction, and selected professional and logistics-related sectors likely to remain the strongest areas of hiring through the balance of 2026.
