NoCo, Boulder Valley county-level unemployment fell in August

Across all four counties in the Northern Colorado and Boulder Valley regions — Boulder, Broomfield, Larimer and Weld — the unemployment rate dropped from July to August, a sign that the area could be a relatively strong position to bounce back from the COVID-19 pandemic and corresponding economic downturn.

Larimer County posted the lowest non-seasonally adjusted unemployment rate last month at 5.6%, according to data released this month by the Colorado Department of Labor and Employment. That’s compared to 6.2% in July and up from 2.3% in August 2019.

Boulder County had a 5.8% rate last month, down from 6.7% in July and up from 2.3% in August 2019.

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Broomfield County’s August 2020 rate was an even 6%. That’s down from 6.9%. The county’s unemployment rate in August 2019 was 2.4%.

In Weld County, the unemployment rate last month was 6.6%, down from 7.3% the prior month and up from 2.5% in August 2019.

Statewide, the unemployment rate in August 2020 was 6.6%.

Colorado’s labor force increased by 2,500 in August to 3,087,000, according to CDLE data. The labor force participation rate in August was unchanged from July at 66.7%. The number of people employed in the state increased by 26,000 in August to 2,880,900.

Over the year, the average workweek for all Colorado employees on private nonfarm payrolls increased from 33.6 to 34.2 hours, while average hourly earnings rose from $30.12 to $30.79, more than a dollar more than the national average hourly earnings of $29.47, CDLE reported.

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