May 2015 Colorado Employment Situation
Employers in Colorado added 4,900 nonfarm payroll jobs from April to May for a total of 2,514,500 jobs, according to the survey of business establishments. Private sector payroll jobs increased 4,400 and government increased 500.
According to the survey of households, the unemployment rate increased one-tenth of a percentage point in May to 4.3 percent. The number of people actively participating in the labor force decreased 100 over the month to 2,829,300 and the number of people reporting themselves as employed decreased 3,200 to 2,706,300. The larger decrease in total employment than in labor force caused the number of unemployed to increase 3,100 and the unemployment rate to increase to 4.3 percent. The national unemployment rate increased one-tenth of a percentage point from April to May to 5.5 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls decreased from 34.1 to 33.8 hours and average hourly earnings increased from $26.24 to $26.86.
The largest over the month private sector job gains were in financial activities, leisure and hospitality, and education and health services. The largest over the month declines were in trade, transportation and utilities, and construction.
Over the year, nonfarm payroll jobs increased 61,100 with an increase of 54,700 in the private sector and an increase of 6,400 in government. The largest private sector job gains were in education and health services, leisure and hospitality, and construction. Information declined over the year.
Over the year, the unemployment rate is down nine-tenths of a percentage point from 5.2 percent in May 2014. The number of Coloradans participating in the labor force increased 16,000, total employment increased 38,600 and the number of unemployed decreased 22,700. The national unemployment rate declined from 6.3 to 5.5 percent from May 2014 to May 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 June 2015 Colorado Employment Situation will be released at 8:00 AM on Tuesday, July 21, 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: June 19, 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