For Immediate Release

 

Date:                      September 18, 2009/ 9:00 A.M.

Contact:                 Office of Government, Policy and Public Relations

Phone:                   (303) 318-8004

Web:                       http://lmigateway.coworkforce.com/lmigateway/

 

 

COLORADO LABOR FORCE DEVELOPMENTS

FOR AUGUST 2009

 

Labor Force^[i]

 

Colorado’s seasonally adjusted unemployment rate fell one half of one percentage point to 7.3 percent, according to Donald J. Mares, Executive Director of the Colorado Department of Labor and Employment. “This improvement is encouraging news for the state,” said Mares. “Although we will likely experience some ups and downs over the next several months, employment appears to be stabilizing,” he added. The August 2008 unemployment rate was 4.9 percent.

 

The number of working Coloradans grew 4,900 over the month to 2,485,800 out of a civilian labor force of 2,682,700. The number of residents unsuccessfully seeking work fell 13,100 to 196,900. Last August total employment was 2,597,200, the civilian labor force was 2,731,300 and the number of unemployed was 134,100.

 

Local economic conditions improved as the unemployment rate (not seasonally adjusted) declined in 62 of Colorado’s 64 counties. The lowest rate was 2.3 percent in Cheyenne County while the highest was 13.4 percent in Dolores County. Last year only 28 counties experienced an over the month unemployment rate decline, while 23 county rates increased and 13 were unchanged. In August 2008 the lowest rate was 2.3 percent in Yuma County and the highest was 10.5 percent in Saguache County.

 

Wage and Salary Employment^[ii]

 

The monthly survey of Colorado business establishments indicates nonfarm wage and salary jobs (not seasonally adjusted) decreased 1,500 in August to 2,260,500. Modest employment changes are typical for this time of year.

 

Employment in three of Colorado’s eleven major industry sectors increased over the month. Government added 4,200 jobs as educators returned to work for the school year. Leisure and hospitality payrolls increased 1,300 while other services were up 200. The loss of 1,300 jobs in trade, transportation and utilities was driven by a drop in wholesale and retail trade resulting from reduced consumer spending. Professional and business services and education and health services each declined by 1,200 jobs while the mining and logging, construction, and manufacturing sectors each declined by 800 jobs. Financial activities and information declined by 700 and 400 jobs, respectively.

 

Nonfarm payroll employment has decreased over the year by 4.6 percent or 109,400 from the August 2008 level of 2,369,900. While the rate of job loss has been increasing steadily for almost a year, this trend is expected to reverse over the next few months.

 

Two of Colorado’s eleven major industry sectors increased over the year. Education and health services grew 6,100, while government increased 5,100. Professional and business services and construction, down 28,600 and 23,300, respectively, account for almost half of Colorado’s employment losses. Other losses are: trade, transportation and utilities (19,300), manufacturing (15,600), leisure and hospitality (12,300) financial activities (9,300), mining and logging (5,200), information (4,900), and other services (2,100).

 

National^[iii]

 

According to the Bureau of Labor Statistics, the nation’s unemployment rate was 9.7 percent and nonfarm payroll employment declined by 216,000 in August. In recent months, job losses have moderated and the August decline is the smallest in the past year. While health care increased 28,000, employment declined over the month in construction and manufacturing, down 65,000 and 63,000, respectively.