Nonfarm payroll jobs in Colorado increased 10,800 from January to February to 2,352,900 jobs, according to a recent survey of business establishments by the Colorado Dept. of Labor and Employment. Private-sector payroll jobs increased 10,100 and government increased 700.
According to the survey of households, the unemployment rate decreased one tenth of one percentage point over the month to 7.2%. The decrease in the unemployment rate was caused by a larger increase in the number of people reporting their status as employed than in the number of people actively participating in the labor force. The last time the Colorado unemployment rate was 7.2% was February 2009. The national unemployment rate decreased two tenths of a percentage point over the same period to 7.7%.
Over the year, the average workweek for all employees on private nonfarm payrolls increased from 34.4 to 34.5 hours and average hourly earnings increased from $24.00 to $25.20.
The largest over the month private-sector job gains were in professional and business services, leisure and hospitality, and trade, transportation and utilities. There were no significant over-the-month declines.
Over the year, nonfarm payroll jobs increased 62,800. Private-sector payroll jobs increased 60,700 and government increased 2,100. The largest private-sector job gains were in professional and business services, leisure and hospitality, and trade, transportation and utilities. The only sector with a significant over-the-year decline was information.
Over the year, the unemployment rate declined one percentage point from 8.2% in February 2012. The number of Coloradans participating in the labor force increased 18,600, total employment increased 44,700 and the number of unemployed decreased 26,200. The national unemployment rate declined from 8.3% in February 2012 to 7.7% in February 2013.