Colorado job recovery continues to outpace United States
Unemployment rate declined in October
GRAND JUNCTION, Colo. (KKCO) -The Colorado Department of Labor and Employment has released new numbers regarding the state’s employment status during the month of October, which found the state’s job recovery continues to outpace the national rate.
A household survey found that the state’s seasonally unemployment rate declined by two-tenths of a percent in October to 5.4%, ahead of the national rate which also declined by two-tenths of a percent to 4.6%.
The survey found that Colorado’s labor force increased by 3,400 to 3,196,800, with the percentage of Coloradans participating in the labor force at 68.2%. The labor department says the participation rate in Colorado continues to be faster than the rest of the country as well.
The number of employed Coloradans grew by 11,900 in October to 3,025,500, which is 64.5% of the state’s population that is 16-years-older and above.
Counties with the highest October unemployment rate are Pueblo (6.8%), Huerfano (6.1%), Las Animas (5.5%), Fremont (5.5%) and Pitkin (5.4%).
Statewide, 10,600 jobs were added from September to October for a total of 2,756,300. The private sector saw the highest increase of 10,000 and government jobs increased by 600.
Over the last 18 months, the labor department says Colorado gained back 313,100 of the 375,800 nonfarm payroll jobs lost between February and April of 2020, which the department says means a recovery rate of 83.3 percent and that exceeds the U.S recovery rate, which sits at 81.2%.
The November 2021 Colorado Employment Situation will be released on Friday, Dec. 17. For a full schedule of these release dates for the 2021 calendar year, visit http://www.colmigateway.com.
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