Colorado Employment Situation for February 2018

For immediate release

Date: March 23, 2018
Contact: Office of Government, Policy and Public Relations
Bill Thoennes at (303) 318-8004 or Cher Haavind at (303) 318-8003
Fax: (303) 318-8070
Web:  www.colorado.gov/cdle


Colorado Employment Situation for February 2018

Employers in Colorado added 8,600 nonfarm payroll jobs from January to February for a total of 2,701,800 jobs, according to the survey of business establishments. Private sector payroll jobs increased 9,000 and government decreased 400.

According to the survey of households, the unemployment rate was unchanged from January to February at 3.0 percent. The number of people actively participating in the labor force increased 7,600 over the month to 3,041,700 and the number of people reporting themselves as employed increased 7,800 to 2,949,500, causing the number of unemployed to decrease 100. Due to rounding, the unemployment rate was unchanged from January at 3.0 percent. The U.S. unemployment rate was also unchanged in February at 4.1 percent.
 
Over the year, the average workweek for all employees on private nonfarm payrolls increased from 32.9 to 33.3 hours and average hourly earnings increased from $27.44 to $28.32.

The largest over the month private sector job gains were in construction, trade, transportation, and utilities, and manufacturing. There were no significant private sector over the month declines.

Over the year, nonfarm payroll jobs increased 63,400, with an increase of 59,000 in the private sector and an increase of 4,400 in government. The largest private sector job gains were in construction, leisure and hospitality, and professional and business services. There were no significant private sector over the year declines.

Over the year, the unemployment rate is up three-tenths of a percentage point from 2.7 percent. The number of Coloradans participating in the labor force increased 97,400, total employment increased 83,600 and the number of unemployed increased 13,800. The national unemployment rate declined from 4.7 percent in February 2017 to 4.1 percent in February 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 March 2018 Colorado Employment Situation will be released at 8:00 AM on Friday, April 20, 2018. The full schedule of release dates for the 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.