Colorado Employment Situation - October 2018
For Immediate Release
Date: November 16, 2018 - 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
Employers in Colorado added 4,800 nonfarm payroll jobs from September to October for a total of 2,747,100 jobs, according to the survey of business establishments. Private sector payroll jobs increased 6,100 and government decreased 1,300. September estimates were revised down to 2,742,300, and the over the month change from August to September was a decrease of 700 rather than the originally estimated increase of 5,100.
According to the survey of households, the unemployment rate increased one-tenth of a percentage point from September to October to 3.2 percent. The number of people actively participating in the labor force increased 5,500 over the month to 3,101,200 and the number of people reporting themselves as employed increased 1,800 to 3,003,000. The larger increase in the labor force than in total employment caused the number of
unemployed to increase 3,700 and the unemployment rate to increase to 3.2 percent. The national unemployment rate remained unchanged over the same period at 3.7 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls decreased from 33.9 to 33.4 hours and average hourly earnings increased from $27.95 to $29.22.
The largest over the month private sector job gains were in professional and business services, leisure and hospitality and trade, transportation, and utilities. There were no significant private sector over the month declines.
Over the year, nonfarm payroll jobs increased 72,000, with an increase of 62,300 in the private sector and an increase of 9,700 in government. The largest private sector job gains were in professional and business services, leisure and hospitality, and trade, transportation, and utilities. Other services declined over the year.
Over the year, the unemployment rate is up two-tenths of a percentage point from 3.0 percent. The number of Coloradans participating in the labor force increased 70,100, total employment increased 64,200 and the number of unemployed increased 5,900. The national unemployment rate declined from 4.1 percent in October 2017 to 3.7 percent in October 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 November 2018 Colorado Employment Situation will be released at 8:00 AM on Friday, December 21, 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.