Sat August 18, 2012

Colorado's Unemployment Rate Inched Up in July

The latest figures show the unemployment rate increased in July for the fourth consecutive month. Colorado’s jobless rate now matches the national figure at 8.3%.

According to the state Department of Labor and Employment, from June 2012 to July 2012 the rate increased by .1% from 8.2% to 8.3%.

"We've added over 85,000 jobs back of the 151,600 jobs lost due to the recession."

This is the second month in a row Colorado’s jobless rate has matched that of the nations. This is also the highest mark since August of 2011.   

The state’s chief labor economist, Alexandra Hall says nonfarm payroll jobs increased 4,500 from June to July. And she adds that the numbers are promising.

“Over the year, we continue to see good solid growth in almost every industry in Colorado. Information is the only one yet that we haven’t seen turnaround in and it may be a while before me do.”

Colorado’s Department of Labor and Employment reports the largest over the month private sector job gains were in leisure and hospitality, manufacturing, professional and business services and other services. Additionally, there were no significant over the month declines.

“We’ve added over 85,000 jobs back of the 151,600 jobs lost due to the recession. We are adding those jobs back faster than the nation. And at this pace we will recovery all the jobs lost in the recession by the middle of 2014.”

Prior to the last two months the last time the Colorado unemployment rate matched that of the nation was October 2005.

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