Below is the most recent economic press release issued by the Colorado Department of Labor and Employment. For more information about state economic statistics, click here for Labor Market Information.
Colorado Department of Labor and Employment • 633 17th Street, Suite 1200 • Denver, CO 80202 • (303) 318-8004 • Fax: (303) 318-8070
For Immediate Release
Date: March 28, 2014/ 8:00 A.M.
Contact: Office of Government and Public Relations
Phone: Bill Thoennes at (303) 318-8004 or Cher Haavind at (303) 318-8003
Fax: (303) 318-8070
Nonfarm payroll jobs increased 6,200 over the month from January to February to 2,422,300 jobs, according to the survey of business establishments. Private sector payroll jobs increased 5,400 and government increased 800.
According to the survey of households, the unemployment rate was unchanged in February at 6.1 percent.
The number of people participating in the labor force increased 18,400 over the month and the number of people reporting themselves as employed increased 16,900. The larger increase in the labor force than in total employment caused the number of unemployed to increase 1,500. However, due to rounding, the unemployment rate was unchanged from January at 6.1 percent. The national unemployment rate increased one tenth of a percentage point to 6.7 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls increased from 34.5 to 34.9 hours and average hourly earnings increased from $25.31 to $26.23.
The largest over the month private sector job gains were in professional and business services and leisure and hospitality. The largest over the month decline was in education and health services.
Over the year, nonfarm payroll jobs increased 65,300. Private sector payroll jobs increased 56,500 and government increased 8,800. The largest private sector job gains were in professional and business services, leisure and hospitality, and education and health services. There were no over the year declines.
Over the year, the unemployment rate declined one percentage point from 7.1 percent in February 2013. The number of Coloradans participating in the labor force increased 15,500, total employment increased 41,600 and the number of unemployed decreased 26,100. The national unemployment rate declined from 7.7 percent in February 2013 to 6.7 percent in February 2014.
All Colorado estimates from the establishment and household surveys, including greater geographic detail, are available at: http://www.colmigateway.com. Estimates for all states and the nation are available at: http://www.bls.gov.
The March 2014 Colorado Employment Situation will be released on Friday, April 18, 2014. The full schedule of release dates for calendar year 2014 estimates is available at http://www.colmigateway.com.
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 persons employed and unemployed by household, estimates based on these surveys may provide seemingly conflicting results.