Friday, July 22, 2011

Colorado Employment Situation June 2011

Employers in Colorado added 4,500 nonfarm payroll jobs from May to June for a total of 2,236,200 jobs, according to the survey of business establishments. Government declined by 2,600 payroll jobs and the private sector added 7,100.

The unemployment rate decreased two-tenths of a percentage point to 8.5 percent based on household survey results. The labor force decreased by 10,500 to 2,681,500 and total employment decreased 5,800 to 2,453,100 causing the number of unemployed to drop 4,800 and the unemployment rate to decline. This is the fourth monthly decline in the unemployment rate. However, in March, April and May the decline was due to an increase in total employment. The national unemployment rate increased from 9.1 to 9.2 percent over the same period.

Over the year, the average workweek for all employees on private nonfarm payrolls decreased from 34.6 to 34.5 hours and average hourly earnings decreased from $23.63 to $23.54.

The largest over the month private sector job gains in June were in leisure and hospitality, financial activities, and professional and business services. The largest decline was in manufacturing.

Over the year, nonfarm payroll jobs increased 14,300 with an increase of 19,300 in the private sector and a decline of 5,000 in government. The largest private sector job gains were in leisure and hospitality, education and health services, and trade, transportation and utilities. 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 June 2010. The number of Coloradans participating in the labor force declined 7,700, total employment increased 1,800 and the number of unemployed decreased 9,600. The national unemployment rate declined from 9.5 to 9.2 percent from June 2010 to 2011.

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