Colorado Employment Situation – August 2021

 

 

Household survey data:

According to the survey of households, Colorado’s seasonally adjusted unemployment rate fell two-tenths of a percentage point in August to 5.9 percent. This marks the first time since March 2020 that the state’s unemployment rate has been below six percent. The national unemployment rate also declined by two-tenths of a percentage point to 5.2 percent.

Other highlights from the household survey:

Colorado’s labor force decreased by 2,300 in August to 3,193,200. The share of Coloradans participating in the labor force was 68.3 percent last month. The state continues to experience a faster rate of recovery in the participation rate than the U.S.

The number of individuals employed in Colorado grew by 4,700 in August to 3,004,200, which represents 64.2 percent of the state’s 16+ population. Colorado has one of the highest employment-to-population ratios in the nation, ranking 7th in July.

The Colorado counties with the highest unemployment rates in August were: Pueblo (7.9%), Huerfano (7.8%), Las Animas (6.8%), Fremont (6.5%), and Adams (6.2%). County-level unemployment rates are not seasonally adjusted and are directly comparable to Colorado’s August unadjusted rate of 5.4 percent.

Establishment survey data:

Employers in Colorado added 5,600 nonfarm payroll jobs from July to August for a total of 2,736,600 jobs, according to the survey of business establishments. Private sector payroll jobs increased 5,000 and government added 600 jobs. Over the past 16 months, Colorado has gained back 293,400 of the 375,800 nonfarm payroll jobs lost between February and April of last year. That translates to a job recovery rate of 78.1 percent, which exceeds the U.S. rate of 76.2 percent.

Here are the unemployment percentages for counties in southeast Colorado:

 

Labor Force

Aug 2021 Unemployed July 2021 Aug 2020 Unemployed
Baca 2,332 2.4 57 2.3 1.9

39

Bent

1,979 5.9 116 6.4 4.1 71
Cheyenne 1,178 2.3 27 2.3 2.6

27

Crowley

1,603 5.0 80 5.5 4.3 65
Kiowa 1,078 2.6 28 3.2 2.1

20

Kit Carson

4,505 2.9 129 3.0 2.5 101
Las Animas 6,819 6.8 461 7.2 7.2

468

Otero

8,669 6.1 526 6.9 5.7 459
Prowers 6,443 4.4 285 5.0 4.2

257

Filed Under: Chamber of CommerceConsumer IssuesCountyEconomyEmploymentFeatured

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