Initial unemployment claims in Colorado down 13 percent in May

Initial unemployment claims in Colorado fell to 2,713 during May 2014, dropping 13 percent, year over year, from 3,132 during May 2013. The first graph shows the general trend, which is clearly downward since the large surge during the most recent recession began in late 2008. May's initial claims were also down from April 2014, which reported a total of 3,133.

May's decline was the third month in a row during which initial claims dropped, year over year. Overall, May's drop at a level commonly seen during non-recessionary periods.

To check for seasonality, we compare to other Mays, and we find  that May 2014's total was the lowest May total since 2008, before the financial crisis. Claims are at a seven year low for May.