August 2015 Colorado Employment Situation
Employers in Colorado added 2,400 nonfarm payroll jobs from July to August for a total of 2,522,500 jobs, according to the survey of business establishments. Private sector payroll jobs increased 1,600 and government increased 800.
According to the survey of households, the unemployment rate decreased one-tenth of a percentage point in August to 4.2 percent. The number of people actively participating in the labor force decreased 5,900 over the month to 2,807,000 and the number of people reporting themselves as employed decreased 2,300 to 2,688,700. The larger decrease in the labor force than in total employment caused the number of unemployed to decrease 3,700 and the unemployment rate to decrease to 4.2 percent. The national unemployment rate declined from July to August to 5.1 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls increased from 34.5 to 34.8 hours and average hourly earnings increased from $26.01 to $26.99.
The largest over the month private sector job gains were in education and health services, professional and business services, and construction. The largest over the month declines were in leisure and hospitality and trade, transportation and utilities.
Over the year, nonfarm payroll jobs increased 47,000 with an increase of 36,900 in the private sector and an increase of 10,100 in government. The largest private sector job gains were in education and health services, leisure and hospitality, and construction. Professional and business services, information and other services declined over the year.
Over the year, the unemployment rate is down four-tenths of a percentage point from 4.6 percent in August 2014. The number of Coloradans participating in the labor force decreased 12,600, total employment increased 100 and the number of unemployed decreased 12,600. The national unemployment rate declined from 6.1 to 5.1 percent from August 2014 to August 2015.
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 September 2015 Colorado Employment Situation will be released at 8:00 AM on Tuesday, October 20, 2015. The full schedule of release dates for calendar year 2015 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.
For Immediate Release
Date: September 18, 2015/ 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