By March 16, 2016 Read More →

Colorado adds 5,200 jobs; unemployment lowest since 2001

Colorado added 5,200 payroll jobs in January from the previous month, and the state’s unemployment rate dropped to 3.2 percent, its lowest level since 2001, the Colorado Department of Labor and Employment reported Monday.

Unemployment in Colorado decreased by 3/10ths of a percentage point from December’s level and was down 9/10ths of a point from a year earlier, CDLE said.

It was a further sign that declines in the state’s energy sector have not caused an overall decrease in employment — at least through the early part of the year.

Colorado’s unemployment rate has not been this low since it stood at 3.1 percent in April 2001.

According to a survey of Colorado’s employers, private-sector non-farm payroll jobs in the state rose by 4,300 in January, while government employment was up by 900. That brought the state’s total for payroll jobs to 2,583,800.

The state’s overall gain of 5,200 payroll jobs in January was slightly behind the 12-month average increase of 5,758.

The month’s biggest gains in private-sector jobs were in professional/business services, leisure/hospitality, and manufacturing. The largest over-the-month private-sector job declines were in education/health services and construction.

Over the last year, the biggest gains in Colorado payroll jobs were in leisure/hospitality, professional/business services, and education/health services. Mining (including energy) and logging declined over the year.

Over the last 12 months, the average workweek for all employees on private non-farm payrolls declined from 33.6 to 33.4 hours, while average hourly earnings increased from $26.64 to $27.32.

The employer — or “establishment” — survey excludes self-employed workers and farm labor, and counts jobs, not people.

A separate survey of Colorado households — the one used to determine the unemployment rate — does include self-employed people and farm workers, and counts people who hold multiple jobs only once.

According to the household survey, the number of Coloradans counting themselves as employed rose by 19,400 in January from the previous month, and the number of people “actively participating in the labor force” — meaning those who are working plus those who are seeking work — rose by 11,500. The number of unemployed fell by 7,900 in January, CDLE says.

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Posted in: Denver

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