According to the survey of households done by the Colorado Department of Labor and Employment, the state’s jobless rate decreased two tenths of a percentage point in July to 5.3 percent. The last time the Colorado unemployment rate was that low was October 2008.
The national unemployment rate increased one-tenth of a percentage point to 6.2 percent in June.
The Boulder-Longmont and Fort Collins-Loveland areas posted 4.3 percent jobless rates in July. Boulder-Longmont had recorded the same figure in June, which was down sharply from the 5.4 percent recorded in July 2013. Fort Collins-Loveland saw a 4.2 percent jobless rate in June and 5.5 percent in July last year. Broomfield County had a 4.8 percent rate in July, slightly up from 4.7 percent in June but much improved from July 2013’s 6.2 percent. Greeley held steady at 5.4 percent for July over June, trailing the Northern Colorado pack but scoring a big improvement from a 7.2 percentage rate in July 2013.
Statewide, nonfarm payroll jobs increased 5,500 over the month from June to July to 2,452,200 jobs, according to the survey of business establishments. Private-sector payroll jobs increased
6,000 and government decreased 500. Colorado has had 33 consecutive months of payroll
The number of people participating in the labor force increased 3,500 over the month and the
number reporting themselves as employed increased by 7,900.
Over the year, the average workweek for all employees on private nonfarm payrolls statewide decreased from 34.8 to 34.4 hours and average hourly earnings increased from $25.54 to
The largest over-the-month private-sector job gains were in education and health services, construction, and professional and business services, according to the state figurers. The largest
decline was in leisure and hospitality.
Over the year, nonfarm payroll jobs increased by 65,600, private-sector payroll jobs by 58,300 and government by 7,300. The largest private-sector job gains were in education and health services, professional and business services, and leisure and hospitality. Financial activities and information declined over the year.