Colorado Employment Situation May 2016
Employers in Colorado added 300 nonfarm payroll jobs from April to May for a total of 2,593,300 jobs, according to the survey of business establishments. Private sector payroll jobs decreased 500 and government increased 800.
According to the survey of households, the unemployment rate increased three-tenths of a percentage point in May to 3.4 percent. The number of people actively participating in the labor force increased 9,200 over the month to 2,897,800 and the number of people reporting themselves as employed increased 1,000 to 2,800,700. The larger increase in the labor force than in total employment caused the number of unemployed to increase 8,300 and the unemployment rate to increase to 3.4 percent. The national unemployment rate decreased three-tenths of a percentage point from April to May to 4.7 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls increased from 33.7 to 33.9 hours and average hourly earnings increased from $26.82 to $27.37.
The largest over the month private sector job gains were in professional and business services and trade, transportation, and utilities. The largest over the month private sector job declines were in leisure and hospitality, education and health services, and construction.
Over the year, nonfarm payroll jobs increased 62,000 with an increase of 52,400 in the private sector and an increase of 9,600 in government. The largest private sector job gains were in leisure and hospitality, construction, and education and health services. Mining and logging declined over the year.
Over the year, the unemployment rate is down five-tenths of a percentage point from 3.9 percent. The number of Coloradans participating in the labor force increased 77,700, total employment increased 91,500 and the number of unemployed decreased 13,800. The national unemployment rate declined from 5.5 percent in May 2015 to 4.7 percent in May 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 June 2016 Colorado Employment Situation will be released at 8:00 AM on Friday, July 22, 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: June 17, 2016/ 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