Colorado Employment Situation For March 2018
For immediate release
Employers in Colorado added 5,400 nonfarm payroll jobs from February to March for a total of 2,707,800 jobs, according to the survey of business establishments. Private sector payroll jobs increased 4,300 and government increased 1,100.
According to the survey of households, the unemployment rate was unchanged from February to March at 3.0 percent. The number of people actively participating in the labor force increased 7,400 over the month to 3,049,300 and the number of people reporting themselves as employed increased 9,200 to 2,958,700, causing the number of unemployed to decrease 1,900. However, due to rounding, the unemployment rate was unchanged from February at 3.0 percent. The U.S. unemployment rate was also unchanged in March at 4.1 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls increased from 32.9 to 33.4 hours and average hourly earnings increased from $27.26 to $28.38.
The largest over the month private sector job gains were in trade, transportation, and utilities. There were no significant private sector over the month declines.
Over the year, nonfarm payroll jobs increased 62,200, with an increase of 58,200 in the private sector and an increase of 4,000 in government. The largest private sector job gains were in trade, transportation, and utilities, leisure and hospitality, and construction. There were no significant private sector over the year declines.
Over the year, the unemployment rate is up four-tenths of a percentage point from 2.6 percent. The number of Coloradans participating in the labor force increased 96,300, total employment increased 82,700 and the number of unemployed increased 13,600. The national unemployment rate declined from 4.5 percent in March 2017 to 4.1 percent in March 2018.
All Colorado estimates from the establishment and household surveys, including greater geographic detail, are available at: www.colmigateway.com. Estimates for all states and the nation are available at: http://www.bls.gov.
The April 2018 Colorado Employment Situation will be released at 8:00 AM on Friday, May 18, 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.