September 2014 Colorado Employment Situation
Nonfarm payroll jobs increased 14,600 over the month from August to September to 2,464,500 jobs, according to the survey of business establishments. Private sector payroll jobs increased 14,700 and government decreased 100 over the month. Colorado has had 35 consecutive months of payroll job gains.
According to the survey of households, the unemployment rate decreased four tenths of a percentage point in September to 4.7 percent. The last time the Colorado unemployment rate was as low as 4.7 percent was June 2008.
The number of people participating in the labor force decreased 400 over the month and the number of people reporting themselves as employed increased 11,300. The increase in total employment and the decrease in labor force caused the number of unemployed to decrease 11,700 and the unemployment rate to decline to 4.7 percent. The national unemployment rate decreased two tenths of a percentage point in September to 5.9 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls decreased from 35.2 to 34.3 hours and average hourly earnings increased from $26.11 to $26.39.
The largest over the month private sector job gains were in leisure and hospitality, professional and business services, and financial activities. There were no private sector over the month declines.
Over the year, nonfarm payroll jobs increased 67,400. Private sector payroll jobs increased 62,400 and government increased 5,000. The largest private sector job gains were in leisure and hospitality, education and health services, and professional and business services. Financial activities and information declined over the year.
Over the year, the unemployment rate declined one and nine tenths of a percentage point from 6.6 percent in September 2013. The number of Coloradans participating in the labor force increased 50,300, total employment increased 101,700 and the number of unemployed decreased 51,500. The national unemployment rate declined from 7.2 percent in September 2013 to 5.9 percent in September 2014.
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 October 2014 Colorado Employment Situation will be released on Friday November 21, 2014. The full schedule of release dates for calendar year 2014 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: October 21, 2014/ 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