Colorado Employment Situation in August 2017
For immediate release
Date: September 15, 2017
Contact: Office of Government, Policy and Public Relations
Bill Thoennes at (303) 318-8004 or Cher Haavind at (303) 318-8003
Employers in Colorado added 4,400 nonfarm payroll jobs from July to August for a total of 2,655,300 jobs, according to the survey of business establishments. Private sector payroll jobs increased 2,700 and government increased 1,700.
According to the survey of households, the unemployment rate was unchanged from July to August at 2.4 percent. The number of people actively participating in the labor force increased 9,800 over the month to 2,992,400 and the number of people reporting themselves as employed increased 8,000 to 2,919,800, causing the number of unemployed to increase 1,800. The unemployment rate was unchanged from July at 2.4 percent due to rounding. The national unemployment rate increased one-tenth of a percentage point in August to 4.4 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 $26.60 to $27.41.
The largest over the month private sector job gains were in professional and business services, and other services. The largest over the month declines were in leisure and hospitality, and information.
Over the year, nonfarm payroll jobs increased 45,800, with an increase of 43,500 in the private sector and an increase of 2,300 in government. The largest private sector job gains were in trade, transportation, and utilities, professional and business services, and education and health services.
Over the year, the unemployment rate is down nine-tenths of a percentage point from 3.3 percent. The number of Coloradans participating in the labor force increased 95,200, total employment increased 118,200 and the number of unemployed decreased 22,900. The national unemployment rate declined from 4.9 percent in August 2016 to 4.4 percent in August 2017.
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 2017 Colorado Employment Situation will be released at 8:00 AM on Friday, October 20, 2017. The full schedule of release dates for calendar year 2017 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.