Colorado Employment Situation - November 2019

Employers in Colorado added 4,100 nonfarm payroll jobs from October to November for a total of 2,796,800 jobs, according to the survey of business establishments. Private sector payroll jobs increased 3,100 and government increased 1,000. October estimates were revised up to 2,792,700, and the over the month change from September to October was an increase of 4,300 rather than the originally estimated increase of 3,100.

 

According to the survey of households, the unemployment rate was unchanged from October to November at 2.6 percent. The number of people actively participating in the labor force increased 5,600 over the month to 3,170,400 and the number of people reporting themselves as employed increased 6,700 to 3,088,100, causing the number of unemployed to decrease 1,200. Due to rounding, the unemployment rate was unchanged from October at 2.6 percent. The national unemployment rate decreased one-tenth of a percentage point in November to 3.5 percent.

 

Over the year, the average workweek for all employees on private nonfarm payrolls increased from 33.0 to 33.2 hours and average hourly earnings increased from $29.56 to $30.55.

 

The largest over the month private sector job gains were in educational and health services, trade, transportation, and utilities, and financial activities. The largest over the month decline was in leisure and hospitality.

 

Over the year, nonfarm payroll jobs increased 57,100, with an increase of 46,000 in the private sector and an increase of 11,100 in government. The largest private sector job gains were in professional and business services, educational and health services, and financial activities. There were no significant private sector over the year declines.

 

Over the year, the unemployment rate is down one percentage point from 3.6 percent. The number of Coloradans participating in the labor force increased 40,900, total employment increased 72,500 and the number of unemployed decreased 31,600. The national unemployment rate declined from 3.7 percent in November 2018 to 3.5 percent in November 2019.

 

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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 December 2019 Colorado Employment Situation will be released at 8:00 AM on Friday, January 24, 2020. The full schedule of release dates for calendar year 2019 estimates is available at http://www.colmigateway.com.

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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.