Colorado Employment Situation – January 2022

 

Household survey data:

According to the survey of households, Colorado’s seasonally adjusted unemployment rate decreased in January to 4.1 percent from the revised December rate of 4.2 percent. Colorado’s unemployment rate of 4.1 percent marks the lowest level since it was 2.8 percent in February 2020. The national unemployment rate moved upward by one-tenth of a percentage point from December to 4.0 percent.

Other highlights from the household survey:

Colorado’s labor force increased by 16,700 in January to 3,187,400. The share of Coloradans participating in the labor force improved to 68.5 percent in January. 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 17,500 in January to 3,055,200, which represents 65.7 percent of the state’s 16+ population.

The Colorado counties with the highest unemployment rates in January were: Huerfano (7.2%), Pueblo (6.3%), Rio Grande (5.7%), Las Animas (5.6%), Fremont (5.6%). County-level unemployment rates are not seasonally adjusted and are directly comparable to Colorado’s January unadjusted rate of 3.9 percent.

Other highlights from the establishment survey:

Private industry sectors with significant job gains in January were: construction (~2,000), professional and business services (~1,900), trade, transportation, and utilities (~1,100), and manufacturing (~1,000). There were no industries with significant over the month declines.

Since January 2021, nonfarm payroll jobs have increased 147,500, with the private sector growing by 134,200 jobs and government adding an additional 13,300 jobs. The largest private sector job gains were in leisure and hospitality (~64,800), professional and business services (~30,800), and trade, transportation, and utilities (~11,000). No industry experienced job loss during that same period. Colorado’s rate of job growth over the past year is 5.5 percent, compared to the U.S. rate of 4.6 percent.

The following are unemployment percentages for counties in southeast Colorado:

 

 

Labor Force

Jan 2022 % Unemployed Dec 2021% Jan 2021% Unemployed
Baca 2,118 1.6 34 1.4 2.5

52

Bent

1,876 4.5 85 4.2 7.4 141
Cheyenne 1,138 1.6 18 1.5 2.4

27

Crowley

1,458 3.9 59 3.7 6.2 90
Kiowa 921 2.2 20 1.9 3.9

38

Kit Carson

4,257 2.3 100 2.0 3.0 130
Las Animas 6,328 5.6 353 4.8 7.7

482

Otero

8,294 4.8 401 4.4 7.0 581
Prowers 6,369 3.5 220 3.0 5.5

341

Filed Under: AgricultureChamber of CommerceCity of GranadaCity of HollyCity of LamarCity of WileyConsumer IssuesCountyEconomyEmploymentFeatured

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