Employers in Colorado added 3,600 nonfarm payroll jobs from June to July for a total of 2,648,400 jobs, according to the survey of business establishments. Private sector payroll jobs increased 100 and government increased 3,500.
According to the survey of households, the unemployment rate increased one-tenth of a percentage point in July to 2.4 percent. The number of people actively participating in the labor force increased 13,000 over the month to 2,982,400 and the number of people reporting themselves as employed increased 9,400 to 2,911,600. The larger increase in the labor force than in total employment caused the number of unemployed to increase 3,700 and the unemployment rate to increase to 2.4 percent. The national unemployment rate decreased one-tenth of a percentage point in July to 4.3 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls increased from 33.8 to 34.4 hours and average hourly earnings increased from $26.62 to $27.72.
The largest over the month private sector job gains were in construction, financial activities, and information. The largest over the month declines were in trade, transportation, and utilities and professional and business services.
Over the year, nonfarm payroll jobs increased 43,400, with an increase of 39,500 in the private sector and an increase of 3,900 in government. The largest private sector job gains were in trade, transportation, and utilities, leisure and hospitality, and education and health services. Manufacturing declined over the year.
Over the year, the unemployment rate is down one percentage point from 3.4 percent. The number of Coloradans participating in the labor force increased 90,700, total employment increased 116,900 and the number of unemployed decreased 26,200. The national unemployment rate declined from 4.9 percent in July 2016 to 4.3 percent in July 2017.