Colorado Employment Situation – August 2019

Employers in Colorado added 9,000 nonfarm payroll jobs from July to August for a total of 2,799,600 jobs, according to the survey of business establishments. Private sector payroll jobs increased 5,300 and government increased 3,700. July estimates were revised up to 2,790,600, and the over the month change from June to July was an increase of 10,800 rather than the originally estimated increase of 7,200.

According to the survey of households, the unemployment rate decreased one-tenth of a percentage point from July to August to 2.8 percent. The number of people actively participating in the labor force increased 6,200 over the month to 3,155,500 and the number of people reporting themselves as employed increased 8,400 to 3,067,200, causing the number of unemployed to decrease 2,200 and the unemployment rate to decline to 2.8 percent. The national unemployment rate was unchanged in August at 3.7 percent.

Over the year, the average workweek for all employees on private nonfarm payrolls decreased from 33.8 to 33.5 hours and average hourly earnings increased from $28.90 to $30.11.

The largest over the month private sector job gains were in educational and health services, financial activities, and trade, transportation, and utilities. The largest over the month decline was in information.

Over the year, nonfarm payroll jobs increased 64,900, with an increase of 54,900 in the private sector and an increase of 10,000 in government. The largest private sector job gains were in professional and business services, educational and health services, and leisure and hospitality. Information declined over the year.

Over the year, the unemployment rate is down six-tenths of a percentage point from 3.4 percent. The number of Coloradans participating in the labor force increased 44,200, total employment increased 62,800 and the number of unemployed decreased 18,500. The national unemployment rate declined from 3.8 percent in August 2018 to 3.7 percent in August 2019.

The following are unemployment percentages for counties in southeast Colorado: