PRESS RELEASE

Colorado Department of Labor and Employment • 633 17^th Street, Suite 600 • Denver, CO 80202 • (303) 318-8852 • Fax: (303) 318-8870

For Immediate Release

Date: December 21, 2007/ 9:00 A.M.

Contact: Office of Government and Public Relations

Phone: (303) 318-8004

Fax: (303) 318-8070

Web: http://www.coworkforce.com/lmigateway/

COLORADO LABOR FORCE DEVELOPMENTS

FOR NOVEMBER 2007

Labor Force[i]

The seasonally adjusted unemployment rate for Colorado rose four-tenths of a percentage point in November to 4.1 percent, according to Donald J. Mares, Executive Director of the Colorado Department of Labor and Employment. “Rising gas prices coupled with delayed openings at Colorado ski resorts due to lack of snow contributed to an increase in unemployment during the month,” noted Mares. The current rate matches January’s as the highest so far this year and is unchanged from last November’s level of 4.1 percent.

After adjusting for normal seasonal labor force movements, results from the monthly household survey showed that the number of employed Coloradans declined by 2,900 to 2,614,500. Last year at this time the estimated count of jobholders was 2,570,800. The number of residents unsuccessfully looking for work jumped 9,500 over the month to 110,900. This represents a slight increase from last November when there were 108,600 unemployed residents.

All of Colorado’s 64 counties saw increases in unemployment rates during the month. Rio Blanco County had the lowest rate at 2.1 percent while Crowley County registered the highest rate at 6.7 percent.

Wage and Salary Employment[ii]

According to the monthly survey of Colorado businesses nonfarm wage and salary employment grew 6,200 to 2,345,700. This was a typical November change, with payrolls increasing in seven major industries and declining in the remaining four. Seasonal hiring in retail trade was responsible for the increase of 8,900 in trade, transportation and utilities. This was the only industry, however, to add more than 1,000 positions during the month. Government employment rose 900 while education and health services, along with financial activities, trended up 500 each. Information and natural resources and mining edged up 400 and 300, respectively. Leisure and hospitality payrolls were essentially flat over the month.

Construction experienced a normal seasonal decline of 3,200, while professional and business services pared 1,800 positions. Manufacturing and other services both trimmed 200 workers.

Since last November total nonfarm employment has risen by 43,200 or 1.9 percent. Slightly more than seven out of ten of these new jobs came from three industries. Professional and business services added 13,200 jobs; trade, transportation and utilities gained 9,000 positions, and employment in education and health services is up 8,700. Leisure and hospitality payrolls increased 5,800 and government realized growth of 5,200. The 19.8 percent annual expansion in natural resources and mining is five times faster than any other sector, but this amounted to only 4,400 new positions in the State’s smallest major industry group. Other services added 1,900 positions and information trended up 1,600 jobs over the year.

Manufacturing experienced its largest twelve-month decline since the beginning of 2004 by paring 6,200 workers, while construction’s 1,000 position loss marks its smallest year over year drop in the past eight months.

National[iii]

The Bureau of Labor Statistics reported that the nation’s unemployment rate held steady at 4.7 percent.  Total nonfarm payroll employment rose by 94,000 in November to 138.5 million.  This followed increases of 44,000 in September and 170,000 in October.  In November, job growth continued in several service providing industries, led by professional and business services, up 30,000, and education and health services, up 28,000.  Employment declined 24,000 in construction and continued to trend downward in manufacturing, falling 11,000.