PRESS RELEASE

Colorado Department of Labor and Employment • 633 17^th Street, Suite 600 • Denver, CO 80202 • (303) 318-8004 • Fax: (303) 318-8070

For Immediate Release

Date: July 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 JUNE 2009

Labor Force[i]

DENVER – Colorado’s seasonally adjusted unemployment rate remained unchanged in June at 7.6 percent, according to Donald J. Mares, Executive Director of the Colorado Department of Labor and Employment. “Colorado’s unemployment rate rose in lockstep with the nation’s from September to March, although since March, unemployment in the state has stabilized while the national rate has continued to climb,” noted Mares. “Colorado has experienced one of the smallest increases in the unemployment rate in the nation from March to June,” Mares continued.

The household survey’s seasonally adjusted estimate of the number of employed Colorado residents fell 18,300 during the month to 2,495,900. This is a drop of 100,300 from last June’s total of 2,596,200. Unemployment, meanwhile, decreased 3,000 during the month but has risen 73,500 from a year ago.

June is generally a month of rising unemployment throughout Colorado as an influx of student workers enters the job market. That pattern held true this year as forty-one of Colorado’s sixty-four counties recorded higher unemployment rates on an unadjusted basis, eighteen saw lower rates and five remained unchanged. The lowest rates were in the sparsely populated counties of Hinsdale and Cheyenne counties at 3.3 and 3.4 percent, respectively. Dolores County topped all areas at 14.6 percent.

Wage and Salary Employment[ii]

The monthly establishment survey of nonfarm wage and salary employment showed that Colorado added 12,300 jobs in June. The increase was about half the normal amount for the month as five major industry sectors added workers, three pared jobs, and three remained about unchanged. With the summer tourism season gearing up, most employment gains during the month came in the leisure and hospitality sector, up 14,600. Construction saw a seasonal increase of 5,000 and trade, transportation and utilities gained 4,200. Payrolls in professional and business services advanced 1,700 and other services added 800. Negligible gains were seen in information as well as education and health services, while financial activities remained flat.

Seasonal cutbacks within education, combined with the end of some preliminary Census work, caused government to shrink 12,300. Manufacturing, down 1,000, continued its long-term employment decline, while mining and logging employment retreated 900.

Nonfarm wage and salary employment is now down 104,400 or 4.4 percent since last June and contracted 3.3 percent for the first six months of this year compared with the same period a year ago. Education and health services, up 9,200, and government, rising 7,100, are the only industries now displaying year over year growth.

Two industries that were drivers behind Colorado’s expansion—construction and professional and business services—have seen payrolls shrink the most over the past year. Construction is off 25,500, or 15 percent, and professional and business services has retreated 29,800, or 8 percent. Substantial declines have also occurred in trade, transportation and utilities, down 16,200; manufacturing, off 15,400; and leisure and hospitality, down 13,600. Payrolls in financial activities have fallen 9,500 while information has declined 4,500. Employment in mining and logging has shrunk 3,200 from twelve months ago.

National[iii]

The Bureau of Labor Statistics reported that nonfarm payroll employment continued to decline in June, falling 467,000, while the unemployment rate was little 
changed at 9.5 percent.  Job losses were widespread across the major industry sectors, with large losses occurring in manufacturing, professional and business
services, and construction.  A small employment increase of 21,000 occurred in health care.