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Colorado Employment Situation – January 2019

 

 

Employers in Colorado added 2,400 nonfarm payroll jobs from December to January for a total of 2,749,300 jobs, according to the survey of business establishments. Private sector payroll jobs increased 1,200 and government increased 1,200.

According to the survey of households, the unemployment rate increased one-tenth of a percentage point from December to January to 3.7 percent. The number of people actively participating in the labor force increased 6,400 to 3,135,100 and total employment increased 3,200 to 3,018,300, causing the number of unemployed to increase 3,200. The larger increase in the labor force than in total employment caused the number of unemployed to increase 3,200 and the unemployment rate to increase to 3.7 percent. The national unemployment rate increased one-tenth of a percentage point in January to 4.0 percent.

Over the year, the average workweek for all employees on private nonfarm payrolls decreased from 33.2 to 32.7 hours and average hourly earnings increased from $28.21 to $30.18.

The largest over the month private sector job gains were in construction, education and health services, and leisure and hospitality. Professional and business services and financial activities declined over the month.

Over the year, nonfarm payroll jobs increased 49,300 with an increase of 46,000 in the private sector and an increase of 3,300 in government. The largest private sector job gains were in professional and business services, leisure and hospitality, and trade, transportation, and utilities. Financial activities declined over the year.

The annual growth rate of Colorado nonfarm payroll jobs was 2.4 percent in 2018, revised down from the previously published 2.7 percent. Colorado annual job growth has exceeded 2.0 percent the past seven years, the longest such streak since nine consecutive years from 1992 to 2000. The U.S. annual payroll jobs growth rate in 2018 was 1.7 percent.

Over the year, the unemployment rate is up eight-tenths of a percentage point from 2.9 percent. The number of Coloradans participating in the labor force increased 88,500, total employment increased 58,700 and the number of unemployed increased 29,800. The national unemployment rate declined from 4.1 percent in January 2018 to 4.0 percent in January 2019.

The annual unemployment rate for Colorado was 3.3 percent in 2018, revised up from the previously published 3.0 percent. The U.S. unemployment rate in 2018 was 3.9 percent.

The following are the unemployment percentages for southeastern Colorado counties:

Labor Force Jan 2019 Unemployed Dec 2018 Jan 2018 Unemployed
Baca 2,134 3.0 63 2.3 1.7

37

Bent

1,930 4.6 89 3.7 3.8 73
Cheyenne 1,083 2.5 27 2.1 1.9

22

Crowley

1,526 6.2 95 5.8 3.5 51
Kiowa 897 2.3 21 2.0 1.9

18

Kit Carson

4,265 2.6 112 2.5 2.1 96
Las Animas 6,597 6.3 417 5.5 4.9

311

Otero

8,485 6.5 550 5.7 5.4 451
Prowers 6,131 4.4 268 3.7 2.8

177

Filed Under: AgricultureConsumer IssuesCountyEconomyEmploymentFeaturedHot TopicsMedia ReleaseThe Journal Alert

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