Colorado Employment Situation – October 2021

 

Unemployment Rate Declines to 5.4%; Colorado Job Recovery Continues to Outpace U.S.

 

Household survey data:

According to the survey of households, Colorado’s seasonally adjusted unemployment rate fell two-tenths of a percentage point in October to 5.4 percent. The national unemployment rate also declined by two-tenths of a percentage point to 4.6 percent.

Other highlights from the household survey:

Colorado’s labor force increased by 3,400 in October to 3,196,800. The share of Coloradans participating in the labor force held at 68.2 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 11,900 in October to 3,025,500, which represents 64.5 percent of the state’s 16+ population. Colorado’s employment-to-population ratio has trended upward over the past two months.

The Colorado counties with the highest unemployment rates in October were: Pueblo (6.8%), Huerfano (6.1%), Las Animas (5.5%), Fremont (5.5%), and Pitkin (5.4%). County-level unemployment rates are not seasonally adjusted and are directly comparable to Colorado’s October unadjusted rate of 4.5 percent.

Employers in Colorado added 10,600 nonfarm payroll jobs from September to October for a total of 2,756,300 jobs, according to the survey of business establishments. Private sector payroll jobs increased 10,000 and government added 600 jobs. Over the past 18 months, Colorado has gained back 313,100 of the 375,800 nonfarm payroll jobs lost between February and April of last year. That translates to a job recovery rate of 83.3 percent, which exceeds the U.S. rate of 81.2 percent.

These are the unemployment percentages for counties in southeast Colorado:

 

Labor Force Oct 2021 Unemployed Sept 21 Oct 20 Unemployed
Baca 2,604 107 43 1.8 1.7

42

Bent

2,211 4.8 106 5.7 3.8 79
Cheyenne 1,266 1.8 23 2.1 2.3

29

Crowley

1,655 4.4 73 4.8 5.4 88
Kiowa 1,151 1.8 21 1.9 1.9

21

Kit Carson

4,815 2.5 120 2.9 2.3 108
Las Animas 7,022 5.5 388 5.9 6.8

469

Otero

9,013 4.9 442 5.4 5.8 571
Prowers 6,790 3.4 230 3.9 4.2

284

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