Labor Force[i]

 

Colorado’s seasonally adjusted unemployment rate fell one tenth of one percentage point to 6.9 percent in November from the revised October estimate of 7.0 according to Donald J. Mares, Executive Director of the Colorado Department of Labor and Employment. “Both employment and the unemployment rate are now holding steady which marks a turning point for Colorado’s economic recovery,” said Mares. “Over-the-month job growth, while slight, is positive news after months of job declines.” Last November the unemployment rate was 5.4 percent.

 

The number of working Coloradans rose 6,300 over the month to 2,480,700 out of a civilian labor force of 2,664,200. The number of residents unsuccessfully seeking work declined 2,700 to 183,500. Last November, total employment was 2,593,200, the civilian labor force was 2,741,600 and the number of unemployed was 148,400.

 

November is typically a month of rising unemployment at the local level. This year was no exception as the unemployment rate (not seasonally adjusted) rose in 52 ofColorado’s 64 counties, fell in 7 and remained unchanged in 5. The lowest rate was 2.8 percent in Cheyenne County and the highest was 14.4 percent in DoloresCounty. In November 2008, the unemployment rate increased in 60 counties, declined in 2 and was unchanged in 2. Last year, the lowest rate was 2.5 percent inYuma County and the highest was 8.4 percent in Crowley County.

 

Wage and Salary Employment[ii]

 

The monthly survey of Colorado business establishments indicates nonfarm wage and salary jobs (not seasonally adjusted) increased 600 in November to 2,247,000.

 

Employment increased in three of Colorado’s eleven major industry sectors over the month. Trade, transportation and utilities added 5,400 jobs, driven by seasonal gains in retail trade. Education and health services payrolls increased 1,300 and mining and logging added 200. Construction continued to decline with losses of 2,800 jobs, leisure and hospitality declined 1,700 and professional and business services lost 1,000. Manufacturing lost 500 jobs and there was little to no change in information, financial activities, other services and government.

 

Nonfarm payroll employment decreased over the year by 3.9 percent, or 89,900, from the November 2008 level of 2,336,900.

 

Two of Colorado’s eleven major industry sectors increased over the year. Education and health services grew 6,900 and government increased 4,200. Construction experienced the most severe losses, down 21,900, while trade, transportation and utilities and professional and business services are down 17,300 and 16,200, respectively. Payrolls in manufacturing declined 13,300 and are down 6,400 in mining and logging. Other losses are: leisure and hospitality (9,600), financial activities (8,300), information (4,300), and other services (3,700).

 

National[iii]

 

According to the Bureau of Labor Statistics, the nation’s unemployment rate fell to 10.0 percent and nonfarm payroll employment declined 11,000 in November. Temporary help services, typically a leading indicator of job change, increased 52,000. From January 2008 through July 2009 temporary help services lost 813,000 jobs, since July 2009 employment in this sector increased 117,000.

 

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