March 2015 Colorado Employment Situation
Total nonfarm payroll jobs declined 3,900 from February to March to 2,504,100 jobs, according to the survey of business establishments. Private sector payroll jobs decreased 4,600 and government increased 700.
According to the survey of households, the unemployment rate was unchanged from February to March 2015 at 4.2 percent. The number of people actively participating in the labor force increased 1,900 to 2,833,000 and total employment increased 2,400 to 2,714,700 causing the number of unemployed to decrease 500. Due to rounding, the unemployment rate was unchanged from February at 4.2 percent. The national unemployment rate was also unchanged from February to March at 5.5 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls decreased from 34.9 to 34.5 hours and average hourly earnings increased from $26.39 to $26.84.
The largest over the month private sector job gains were in financial activities. The largest over the month declines were in professional and business services.
Over the year, nonfarm payroll jobs increased 67,700 with an increase of 62,800 in the private sector and an increase of 4,900 in government. The largest private sector job gains were in construction, education and health services, and leisure and hospitality. Information declined over the year.
Over the year, the unemployment rate is down one and three-tenths of a percentage point from 5.5 percent in March 2014. The number of Coloradans participating in the labor force increased 28,500, total employment increased 64,800 and the number of unemployed decreased 36,300. The national unemployment rate declined from 6.6 to 5.5 percent from March 2014 to March 2015.
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 April 2015 Colorado Employment Situation will be released at 8:00 AM on Wednesday, May 27, 2015. The full schedule of release dates for calendar year 2015 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: April 21, 2015/ 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