Colorado Employment Situation in May 2018

Employers in Colorado added 7,700 nonfarm payroll jobs from April to May for a total of 2,723,400 jobs, according to the survey of business establishments. Private sector payroll jobs increased 8,400 and government decreased by 700. April estimates were revised down to 2,715,700, and the over the month increase from March to April was 5,900 rather than the originally estimated 7,200.

According to the survey of households, the unemployment rate decreased one-tenth of a percentage point from April to May to 2.8 percent. The number of people actively participating in the labor force increased 8,200 over the month to 3,064,200 and the number of people reporting themselves as employed increased 11,200 to 2,979,200, causing the number of unemployed to decrease 2,900 and the unemployment rate to decline to 2.8 percent. The U.S. unemployment rate decreased one-tenth of a percentage point in May to 3.8 percent. This is the lowest unemployment rate for the U.S. since it was 3.8 percent in April 2000.

Over the year, the average workweek for all employees on private nonfarm payrolls increased from 33.8 to 34.1 hours and average hourly earnings increased from $27.16 to $28.40.

The largest over the month private sector job gains were in leisure and hospitality, trade, transportation, and utilities, and professional and business services. There were no significant private sectors over the month declines.

Over the year, nonfarm payroll jobs increased 72,800, with an increase of 67,100 in the private sector and an increase of 5,700 in government. The largest private sector job gains were in leisure and hospitality, professional and business services, and trade, transportation, and utilities. Other services declined over the year.

Over the year, the unemployment rate is up two-tenths of a percentage point from 2.6 percent. The number of Coloradans participating in the labor force increased 89,900, total employment increased 83,400 and the number of unemployed increased 6,400. The national unemployment rate declined from 4.3 percent in May 2017 to 3.8 percent in May 2018.

Here are the unemployed figures for counties in southeast Colorado: