Colorado Employment Situation June 2018

For Immediate Release
Date: July 20, 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 4,200 nonfarm payroll jobs from May to June for a total of 2,729,600 jobs, according to the survey of business establishments. Private sector payroll jobs increased 3,700 and government increased 500. May estimates were revised up to 2,725,400, and the over the month increase from April to May was 9,700 rather than the originally estimated 7,700.

According to the survey of households, the unemployment rate decreased one-tenth of a percentage point from May to June to 2.7 percent. The number of people actively participating in the labor force increased 9,800 over the month to 3,074,300 and the number of people reporting themselves as employed increased 10,800 to 2,990,200, causing the number of unemployed to decrease 1,000 and the unemployment rate to decline to 2.7 percent. The U.S. unemployment rate increased two-tenths of a percentage point in June to 4.0 percent.

Over the year, the average workweek for all employees on private nonfarm payrolls increased from 33.8 to 33.9 hours and average hourly earnings increased from $27.25 to $28.71.

The largest over the month private sector job gains were in professional and business services, financial activities, and education and health services. The largest over the month decline was in trade, transportation, and utilities.

Over the year, nonfarm payroll jobs increased 74,600, with an increase of 63,300 in the private sector and an increase of 11,300 in government. The largest private sector job gains were in professional and business services, leisure and hospitality, and construction. Other services declined over the year.

Over the year, the unemployment rate is unchanged at 2.7 percent. The number of Coloradans participating in the labor force increased 88,000, total employment increased 85,200 and the number of unemployed increased 2,800. The national unemployment rate declined from 4.3 percent in June 2017 to 4.0 percent in June 2018.

###

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 July 2018 Colorado Employment Situation will be released at 8:00 AM on Friday, August 17, 2018. The full schedule of release dates for calendar year 2018 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.