Colorado Employment Situation July 2018

For Immediate Release
Date: August 17, 2018/ 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
Web: http://www.colmigateway.com

Employers in Colorado added 2,800 nonfarm payroll jobs from June to July for a total of 2,737,300 jobs, according to the survey of business establishments. Private sector payroll jobs increased 2,700 and government increased 100. June estimates were revised up to 2,734,500, and the over the month increase from May to June was 9,100 rather than the originally estimated 4,200.

According to the survey of households, the unemployment rate increased one-tenth of a percentage point from June to July to 2.8 percent. The number of people actively participating in the labor force increased 10,400 over the month to 3,084,900 and the number of people reporting themselves as employed increased 8,900 to 2,999,400. The larger increase in the labor force than in total employment caused the number of unemployed to increase 1,500 and the unemployment rate to increase to 2.8 percent. The national unemployment rate decreased one-tenth of a percentage point from June to July to 3.9 percent.

Over the year, the average workweek for all employees on private nonfarm payrolls increased from 34.3 to 34.5 hours and average hourly earnings increased from $27.65 to $28.77.

The largest over the month private sector job gains were in professional and business services, education and health services, and trade, transportation, and utilities. The largest over the month declines were in other services and construction.

Over the year, nonfarm payroll jobs increased 77,700, with an increase of 68,000 in the private sector and an increase of 9,700 in government. The largest private sector job gains were in leisure and hospitality, professional and business services, and trade transportation and utilities. Other services declined over the year.

Over the year, the unemployment rate is unchanged at 2.8 percent. The number of Coloradans participating in the labor force increased 85,100, total employment increased 84,400 and the number of unemployed increased by 700. The national unemployment rate declined from 4.3 percent in July 2017 to 3.9 percent in July 2018.

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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 August 2018 Colorado Employment Situation will be released at 8:00 AM on Friday, September 21, 2018. The full schedule of release dates for calendar year 2018 estimates is available at http://www.colmigateway.com.

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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.