PRESS RELEASE

Colorado Department of Labor and Employment • 633 17th Street, Suite 600 • Denver, CO 80202 • (303) 318-8850 • Fax: (303) 318-8870

 

 

For Immediate Release

 

Date:                April 17, 2009/ 9:00 A.M.

Contact:           Office of Government and Public Relations

Phone:             (303) 318-8004

Fax:                  (303) 318-8070

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

 

 

COLORADO LABOR FORCE DEVELOPMENTS

FOR MARCH 2009

 

Labor Force[i]

 

The seasonally adjusted jobless rate in Colorado increased three-tenths of one percentage point to 7.5 percent in March, according to Donald J. Mares, Executive Director of the Colorado Department of Labor and Employment.  “While deteriorating national economic trends continue to adversely impact Colorado’s workforce, the State’s current jobless rate is still a full percentage point lower than that of the U.S.,” noted Mares.  The current rate is the highest since 7.7 percent was registered in May 1987.  Last March the share of the labor force unsuccessfully seeking work stood at 4.6 percent. 

 

The number of employed Colorado residents, adjusted for normal labor force movements, fell 13,000 over the month to 2,522,100.  Last March an estimated 2,597,400 Coloradans were working.  The number of jobless rose 8,300 to 204,800 during the month, up 79,400 from the same period last year.

 

Unemployment continued to trend upward throughout much of Colorado with 47 counties reporting higher unemployment rates, eleven posting lower rates, and six showing no change over the month.  Dolores County, at 15.6 percent, registered the highest rate; Yuma and Cheyenne counties, both at 3.8 percent, recorded the lowest rates.

 

Wage and Salary Employment[ii]

 

According to the monthly survey of Colorado business establishments, total nonfarm employment inched up 1,900 to 2,271,700 during the month.  The gain, which fell well short of seasonal expectations, was the smallest March increase since 1975 and only one-tenth of the average March increase over the past five years.  Employment changes were mostly small with the number of gaining and losing industries about evenly split.  Government led the gainers with the addition of 2,800 jobs, followed by leisure and hospitality, up 1,400, and professional and business services, up 1,100.  Construction employment usually increases in March with the return of warmer weather, but the still sluggish residential and non-residential segments contributed to the industry shedding 2,100 positions over the month.  Employment in manufacturing and financial activities slipped 1,400 and 800, respectively.  Mining and logging fell 200, the sector’s fourth consecutive monthly decline.

 

Over the year, nonfarm wage and salary employment has fallen 71,900 or 3.1 percent.  Losses have been widespread with five of Colorado’s major industries losing more than 10,000 jobs since last March.  Job cuts in the past twelve months have been most pronounced in professional and business services, down 27,100; construction, off 21,600; and trade, transportation and utilities, down 16,500.  Manufacturing payrolls retreated 10,800 while financial activities is down 10,100 over the same period.

 

Government payrolls are up 10,100 over the past twelve months, with about sixty percent of the increase occurring at the local level.  Although hiring for the upcoming decennial census will provide a short-term boost to the federal component in the coming months, weakening revenues point to slowing job growth at the state and local levels.  Education and health services added 8,000, while mining and logging posted a 2,000 job increase since last March.

 

National[iii]

 

The Bureau of Labor Statistics reported the nation’s unemployment rate rose four-tenths of one percentage point to 8.5 percent.  Nonfarm payrolls fell 663,000 in March and have declined by 3.3 million over the past five months.  In March, job losses occurred in every major industry except education and health services, which realized an 8,000 increase.

 


[i] Labor force estimates are calculated from the household survey results, using the Bureau of Labor Statistics Local Area Unemployment Statistics methods.  The unadjusted statewide and county level estimates are available at the following link: 

http://www.coworkforce.com/lmi/ali/lfpage.asp

 

[ii] Wage and salary employment estimates are calculated from the establishment survey results, using the Bureau of Labor Statistics Current Employment Statistics methods.  The statewide adjusted and unadjusted, and the unadjusted MSA estimates are available at the following link:

http://www.coworkforce.com/lmi/CES/ceshome.asp

 

[iii] The Bureau of Labor Statistics homepage is available at the following link:

http://www.bls.gov/