Employers in Colorado added 3,200 nonfarm payroll jobs from June to July for a total of 2,241,500 jobs, according to the survey of business …
Employers in Colorado added 3,200 nonfarm payroll jobs from June to July for a total of 2,241,500 jobs, according to the survey of business establishments. Government declined by 900 payroll jobs and the private sector added 4,100.
At 8.5 percent, the unemployment rate was unchanged from the previous month based on household survey results. The labor force decreased by 7,600 to 2,674,400 and total employment decreased 5,300 to 2,447,900 causing the number of unemployed to drop 2,300. While the number of unemployed and labor force declined, the ratio of unemployed to the labor force remained unchanged as reflected in the unemployment rate. The national unemployment rate decreased from 9.2 to 9.1 percent over the same period.
Over the year, the average workweek for all employees on private nonfarm payrolls increased from 34.7 to 34.8 hours and average hourly earnings increased from $23.70 to $23.77.
The largest over the month private sector job gains in July were in leisure and hospitality, professional and business services, and manufacturing. The largest declines were in construction, and trade, transportation and utilities.
Over the year, nonfarm payroll jobs increased 18,600 with an increase of 23,000 in the private sector and a decline of 4,400 in government. The largest private sector job gains were in leisure and hospitality, education and health services, and professional and business services. The largest declines were in construction, financial activities, and information.
Over the year, the unemployment rate is down three-tenths of one percentage point from 8.8 percent in July 2010. The number of Coloradans participating in the labor force declined 8,500, total employment increased 1,600 and the number of unemployed decreased 10,100. The national unemployment rate declined from 9.5 to 9.1 percent from July 2010 to 2011.
All Colorado estimates from the establishment and household surveys, including greater geographic detail, are available at: http://lmigateway.coworkforce.com/lmigateway. Estimates for all states and the nation are available at: http://www.bls.gov.
The August 2011 Colorado Employment Situation will be released on Sept. 16.
Nonfarm payroll jobs estimates are based on a survey of business establishments and government agencies, and are intended to measure the number of jobs, not the number of people employed. Other series based on this survey include private sector average weekly hours, average hourly earnings and average weekly earnings.
The unemployment rate, labor force, labor force participation, total employment and the number of unemployed are based on a survey of households. The total employment estimate derived from this survey is intended to measure the number of people employed.
The business establishment survey covers about seven times the number of households surveyed and is therefore considered a more reliable indicator of economic conditions. Because the estimates are based on two separate surveys, one measuring jobs by worksite and the other measuring employment and unemployment by household, estimates based on these surveys may provide seemingly conflicting results.