Colorado Employment Situation | January 2016

Employers in Colorado added 5,200 nonfarm payroll jobs from December to January for a total of 2,583,800 jobs, according to the survey of business establishments. Private sector payroll jobs increased 4,300 and government increased 900.

According to the survey of households, the unemployment rate decreased three-tenths of a percentage point to 3.2 percent. The number of people actively participating in the labor force increased 11,500 to 2,843,800 and total employment increased 19,400 to 2,753,300 causing the number of unemployed to decline 7,900. The national unemployment rate decreased one-tenth of one percentage point over the same period to 4.9 percent.

Over the year, the average workweek for all employees on private nonfarm payrolls decreased from 33.6 to 33.4 hours and average hourly earnings increased from $26.64 to $27.32.

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

Over the year, nonfarm payroll jobs increased 69,100 with an increase of 60,300 in the private sector and an increase of 8,800 in government. The largest private sector job gains were in leisure and hospitality, professional and business services, and education and health services. Mining and logging declined over the year.

Over the year, the unemployment rate is down nine-tenths of a percentage point from 4.1 percent and is at the lowest level since it was 3.1 percent in April 2001. The number of Coloradans participating in the labor force increased 23,800, total employment increased 49,900 and the number of unemployed decreased 26,100. The national unemployment rate declined from 5.7 to 4.9 percent from January 2015 to January 2016.

Colorado lost 155,400 payroll jobs from a peak of 2,362,700 reached May 2008 to a trough of 2,207,300 reached January 2010 as a result of the most recent recession. Revisions indicate full recovery occurred in March 2013 when Colorado total nonfarm payroll jobs exceeded the May 2008 peak and reached a level of 2,363,000.

The annual growth rate of Colorado nonfarm payroll jobs was 3.1 percent in 2015 revised up from the previously published 2.3 percent. The U.S. annual payroll jobs growth rate in 2015 was 2.1 percent.

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All Colorado estimates from the establishment and household surveys, including greater geographic detail, are available at: http://www.colmigateway.com. Estimates for all states and the nation are available at: http://www.bls.gov.

Here are the unemployment percentages for counties in southeast Colorado: