NoCo unemployment remains unchanged in July

The unemployment rate in Northern Colorado remained unchanged in July, although the number of people in the labor force fell in both Larimer and Weld counties, the state reported Friday.

Larimer County’s jobless rate was 6.7 percent in July, but the labor force decreased from 182,331 in June to 179,458. Similarly, Weld County’s rate was 9.2 percent, while the labor force decreased from 126,605 in June to 124,501.

Year-over-year, the unemployment rates were down in both counties. In July 2011, Larimer County’s unemployment rate was 6.8 percent and Weld’s was 9.5 percent.

In Colorado, the unemployment rate increased one-tenth of 1 percent from June to July, despite the addition of 4,500 nonfarm payroll jobs.

Unemployment in Colorado in July stood at 8.3 percent, the same rate as the U.S. unemployment rate.
The increase in the Colorado unemployment rate was caused by a larger decline in the number of people reporting their status as employed than the decline in the number of people actively participating in the labor force, the state said.

The last time the Colorado unemployment rate matched the nation’s was October 2005, according to the Colorado Department of Labor and Employment.

The private sector added 4,200 jobs over the month with the largest gains made in the leisure and hospitality, manufacturing, professional and business services and other services categories. There was a total of 2,294,900 jobs in Colorado last month.

Year-over-year, the unemployment rate remained unchanged; it was 8.3 percent in July 2011. The national rate in July 2011 was 9.1 percent.
Although the change in the rate from month to month was slight, the state Republican Party characterized Friday’s report as “dismal news” and said that President Obama’s “failed economic policies have left us with more unemployment, more debt, and more uncertainty for middle-class families struggling to make ends meet.”



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Molly Armbrister covers real estate, banking and health care for the Northern Colorado Business Report. She can be reached at 970-232-3139, marmbrister@ncbr.com or twitter.com/MArmbristerNCBR
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