Little Change in Colorado Unemployment for July
Labor officials say Colorado employers added more than 3,000 net jobs last month. But the gains still weren’t enough to change the state’s unemployment rate.
At 8.5 % statewide, the jobless rate is essentially unchanged from June, although it’s down three-tenths of a percent from one year ago. A total of 4,100 private sector jobs were added in July, but offset by the loss of 900 government payroll positions.
Joe Winter is a senior economist with the Colorado Department of Labor and Employment. He says the over-the-year trend is actually more important than the month-to-month changes.
“If we look at the establishment survey results – that is to say, the job counts – we have gotten an increase over the year in total non-farm employment of 18,600 from June of last year.”
Professional and business services, along with leisure and hospitality, had the biggest gains last month. Winter characterizes the uptick in jobs and the drop in the unemployment rate as ‘modest,’ but overall a positive sign for the economy. But he cautions that with so much uncertainty at the national level, it’s impossible to say how long any state trends will last.
Colorado's unemployment is still below the national rate of 9.1% for July.