Colorado Employment Situation – September 2021

Household survey data:

According to the survey of households, Colorado’s seasonally adjusted unemployment rate fell three-tenths of a percentage point in September to 5.6 percent. The national unemployment rate declined by four-tenths of a percentage point to 4.8 percent.

Other highlights from the household survey:

Colorado’s labor force decreased by 900 in September to 3,192,300. 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 9,300 in September to 3,013,500, which represents 64.3 percent of the state’s 16+ population. Colorado has one of the highest employment-to-population ratios in the nation, ranking 7th in August.

The Colorado counties with the highest unemployment rates in September were: Pueblo (7.0%), Huerfano (6.5%), Las Animas (5.8%), Fremont (5.7%), Adams (5.5%), and Bent (5.5%). County-level unemployment rates are not seasonally adjusted and are directly comparable to Colorado’s September unadjusted rate of 4.6 percent.

Establishment survey data:

Employers in Colorado added 5,100 nonfarm payroll jobs from August to September for a total of 2,741,100 jobs, according to the survey of business establishments. Private sector payroll jobs increased 8,400 and government shed 3,300 jobs. Over the past 17 months, Colorado has gained back 297,900 of the 375,800 nonfarm payroll jobs lost between February and April of last year. That translates to a job recovery rate of 79.3 percent, which exceeds the U.S. rate of 77.8 percent.

Other highlights from the establishment survey:

Since September 2020, nonfarm payroll jobs have increased 102,100, with the private sector growing by 92,700 jobs and government adding an additional 9,400 jobs. The largest private sector job gains were in leisure and hospitality (~41,800), professional and business services (~23,500), and trade, transportation, and utilities (~17,400). During that same period, manufacturing (~800) and construction (~600) payroll jobs declined. Colorado’s rate of job growth over the past year is 3.9 percent, compared to the U.S. rate of 4.0 percent.

Over the year, the average workweek for all Colorado employees on private nonfarm payrolls increased from 32.9 to 33.5 hours, while average hourly earnings increased from $31.02 to $32.46, a dollar and sixty-one cents more than the national average hourly earnings of $30.85.

These are the percentages of unemployed in southeastern Colorado counties: