Colorado's unemployment rate decreased slightly to 8.2 percent in August. That’s down one tenth of one percentage point from July's unemployment rate. The Colorado Department of Labor and Employment says the decrease was caused by a larger decline in the people actively participating in the job market.
Over the year, the unemployment rate has declined from 8.3 percent in August 2011 to 8.2 percent in August 2012.
This is the first time Colorado’s unemployment rate has been higher than the national rate since 2005. The national unemployment rate was at 8.1 percent in August. The national unemployment rate declined from 9.1 percent in August 2011 to 8.1 percent in August 2012.
The national unemployment rate declined from 9.1 percent in August 2011 to 8.1 percent in August 2012.
Nonfarm payroll jobs in Colorado were unchanged from July to August. Private sector payroll jobs decreased by 1,700 and government increased by 1,700.
Over the year, the average workweek for all employees on private nonfarm payrolls has increased from 34.5 to 34.9 hours and average hourly earnings increased from $23.66 to $24.48.
So far in 2012, nonfarm payroll jobs have increased 33,300. Private sector payroll jobs increased 31,300 and government increased 2,000.
The number of Coloradans participating in the labor force has increased 2,600, total employment increased 3,300 and the number of unemployed decreased 700.
