Colorado Employment Situation July 2016
Employers in Colorado added 14,000 nonfarm payroll jobs from June to July for a total of 2,616,000 jobs, according to the survey of business establishments. Private sector payroll jobs increased 11,100 and government increased 2,900.
According to the survey of households, the unemployment rate increased one-tenth of a percentage point in July to 3.8 percent. The number of people actively participating in the labor force decreased 4,100 over the month to 2,894,500 and the number of people reporting themselves as employed decreased 8,500 to 2,784,000. The larger decrease in total employment than in labor force caused the number of unemployed to increase 4,400 and the unemployment rate to increase to 3.8 percent. The national unemployment rate remained unchanged over the same period at 4.9 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls decreased from 34.1 to 33.9 hours and average hourly earnings decreased from $26.76 to $26.63.
The largest over the month private sector job gains were in financial activities, trade, transportation, and utilities, and construction. There were no significant over the month declines.
Over the year, nonfarm payroll jobs increased 74,200 with an increase of 62,600 in the private sector and an increase of 11,600 in government. The largest private sector job gains were in construction, leisure and hospitality, and education and health services. Mining and logging declined over the year.
Over the year, the unemployment rate is unchanged at 3.8 percent. The number of Coloradans participating in the labor force increased 74,700, total employment increased 71,300 and the number of unemployed increased by 3,400. The national unemployment rate declined from 5.3 percent in July 2015 to 4.9 percent in July 2016.
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 2016 Colorado Employment Situation will be released at 8:00 AM on Tuesday, September 20, 2016. The full schedule of release dates for calendar year 2016 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: August 19, 2016
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