Colorado nonfarm employment returning
to pre-pandemic levels, unemployment low
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Household survey data:
According to the survey of households, Colorado’s seasonally adjusted unemployment rate decreased to 4.0 percent in February from 4.2 percent, as revised, in January. Colorado’s unemployment rate of 4.0 percent marks the lowest level since it was 2.8 percent in February 2020. The national unemployment rate also declined two-tenths of a percentage point from January to 3.8 percent.
Other highlights:
- Colorado’s labor force grew by 11,600 in February to 3,199,000. The share of Coloradans participating in the labor force improved to 68.7 percent last month, the highest rate since March 2020. The state continues to experience a faster rate of recovery in the participation rate than the U.S.
- The number of individuals employed in Colorado increased by 17,100 in February to 3,072,200, which represents 66.0 percent of the state’s 16+ population. Colorado’s employment-to-population ratio has nearly returned to pre-pandemic levels.
- The Colorado counties with the highest unemployment rates in February were: Huerfano (7.2%), Pueblo (6.1%), Fremont (5.8%), Rio Grande (5.6%), and Las Animas (5.5%). County-level unemployment rates are not seasonally adjusted and are directly comparable to Colorado’s February unadjusted rate of 4.0 percent.
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Business survey data:
Employers in Colorado added 14,100 nonfarm payroll jobs from January to February for a total of 2,826,900 jobs, according to the survey of business establishments. Private-sector payroll jobs increased by 13,700 and the government rose by 400. After the February gain of 14,100, Colorado has fully recovered the total nonfarm jobs lost in early 2020. Over the past 22 months, the state has added 381,800 nonfarm payroll jobs, compared to losses totaling 374,500 in March and April 2020. That translates to a job recovery rate of 101.9 percent, which exceeds the U.S. rate of 90.4 percent.
Since May 2020, Colorado’s private sector has grown by 383,300 jobs, compared to declines of 358,800 in early 2020. That translates to a job recovery rate of 106.8 percent and outpaces the U.S. rate of 93.2 percent.
Other highlights:
- January estimates were revised down to 2,812,800, and the over the month change from December to January was a gain of 6,000 rather than the originally estimated increase of 6,700 (monthly revisions are based on additional responses from businesses and government agencies since the last published estimates).
- Private industry sectors with significant job gains in February were: trade, transportation, and utilities (~4,300), professional and business services (~3,900), leisure and hospitality (~2,300), and construction (~2,100). There were no industries with significant over-the-month declines.
- Since February 2021, nonfarm payroll jobs have increased 138,200, with the private sector growing by 125,800 and the government adding an additional 12,400 jobs. The largest private-sector job gains were in leisure and hospitality (~52,700), professional and business services (~31,500), and trade, transportation, and utilities (~15,700). During that same period, mining and logging (~200) payroll jobs declined. Colorado’s rate of job growth over the past year is 5.1 percent, compared to the U.S. rate of 4.6 percent.
- Over the year, the average workweek for all Colorado employees on private nonfarm payrolls decreased from 33.3 to 32.9 hours, while average hourly earnings grew from $30.87 to $33.79, over two dollars and twenty cents more than the national average hourly earnings of $31.58.
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HR Checkup for Small Businesses: Employment Law Basics, Part 1 & 2
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This two-part webinar series will provide you with the knowledge of federal and state employment laws that apply to your business. The first session will focus on federal employment laws including proper pay practices under the Fair Labor Standards Act, compliance standards under the Family and Medical Leave Act and the Americans with Disabilities Act and an overview of civil rights protections.
The second session will focus on Colorado state employment laws including paid sick leave, CROWN act, COMPs wage and hour requirements, domestic violence leave and more. In addition to providing education and awareness on employment laws, we will also discuss strategies for implementation, application and compliance for your business.
11 a.m. - Noon
FREE
(click on the date to register)
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8 a.m. - 1:15 p.m. | May 5
$25 | Silverthorne, CO
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May 9 - 13, 2022
Multiple events
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3 - 4:30 p.m. | April 11
CMC - Edwards Campus
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Northwest Workforce Region Business Services team |
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Your business services staff, Chris, Mark and Carolyn, are highly trained, resourceful, out-of-the-box thinkers dedicated to businesses, community and economic development. We believe that thriving local economies are the best foundations for businesses to succeed, and that strong businesses contribute to thriving economies and meaningful employment. Our number one goal is to support businesses in attracting and retaining the talent they need to grow and thrive.
Our staff are experts in local labor markets and look forward to helping you with your workforce needs. Contact us to learn more about tailored services and resources to support your business.
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Christina Oxley
Rio Blanco, Moffat, Routt,
Grand and Jackson counties
970.620.1690
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Mark Hoblitzell
East Eagle, Summit
and Lake counties
970.880.4092
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Carolyn Tucker
Garfield, Pitkin and
West Eagle counties
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Northwest Colorado Workforce Center offices |
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If you have a question about unemployment, please contact them directly at 1-800-388-5515. Workforce centers are no longer able to assist with unemployment insurance questions or claims.
Northwest Colorado Workforce Offices are open to walk-in traffic from 8 a.m. to noon and 1 to 5 p.m. Monday through Friday. Services are also available virtually for those without easy access to an office or those with health concerns.
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CRAIG
Moffat County
970.824.3246
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EDWARDS
East Eagle County
970.926.4440
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LEADVILLE
Lake County
719.486.2428
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MEEKER
Rio Blanco County
970.878.4211
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FRISCO
Grand, Jackson
and Summit counties
970.668.5361
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GLENWOOD SPRINGS
Garfield, Pitkin and
West Eagle counties
970.945.8638
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STEAMBOAT
SPRINGS
Routt County
970.879.3075
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