Analysis of Performance
Unemployment rates for Fort Collins and Colorado are only availabe for January and February. Full Q1 data is not available yet.
- "Increase in February unemployment rate was due to a decline in total
employment (-6.0k) coupled with a decrease in labor force (-1.8k)."- Colorado LMI Employment Situation Report - "Number of unemployed Coloradans grew by 4,200 to 114,400." - Colorado LMI Employment Situation Report
- "Unemployment rate for Colorado has ranged between 3.0 and 3.5 percent over the past year, while the U.S. range has been 3.4 and 3.9 percent. " - Colorado LMI Employment Situation Report
Metric Definition
Local unemployment rate is the percentage of the total labor force that is unemployed but actively seeking employment and willing to work. This includes persons actively looking for work in the prior 4 weeks by contacting an employer directly, having a job interview, sending out resumes or filling out applications.
Why Is This Important?
The unemployment rate is a key top-line economic metric providing an overall understanding of economic activity in a community. This metric is commonly used as the primary indicator to measure the economic success and resiliency of a community.
City Organization Impact on Performance
Low – Although we have influence on local hiring activity, the City of Fort Collins does not control the local population change.
Benchmark Information
This metric contains state and national benchmark data to place Fort Collins' performance in context. While the City's target is 5% (which is generally considered full employment), these benchmarks allow identification of larger trends to analyze how statewide or national effects are impacting the City's performance.