Colorado News You Should Know:
Colorado Employment Situation February 2013
The following is the Colorado Employment Situation report for February 2013 presented by the Colorado Office of Government, Policy and Public Relations.
(DENVER) — Nonfarm payroll jobs increased 10,800 from January to February to 2,352,900 jobs, according to the survey of Colorado business establishments. Private sector payroll jobs increased 10,100 and government increased 700.
According to the survey of households, the unemployment rate decreased one tenth of one percentage point over the month to 7.2 percent. The decrease in the unemployment rate was caused by a larger increase in the number of people reporting their status as employed than in the number of people actively participating in the labor force. The last time the Colorado unemployment rate was 7.2 percent was February 2009. The national unemployment rate decreased two tenths of a percentage point over the same period to 7.7 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls increased from 34.4 to 34.5 hours and average hourly earnings increased from $24.00 to $25.20.
The largest over the month private sector job gains were in professional and business services, leisure and hospitality, and trade, transportation and utilities. There were no significant over the month declines.
Over the year, nonfarm payroll jobs increased 62,800. Private sector payroll jobs increased 60,700 and government increased 2,100. The largest private sector job gains were in professional and business services, leisure and hospitality, and trade, transportation and utilities. The only sector with a significant over the year decline was information.
Over the year, the unemployment rate declined one percentage point from 8.2 percent in February 2012. The number of Coloradans participating in the labor force increased 18,600, total employment increased 44,700 and the number of unemployed decreased 26,200. The national unemployment rate declined from 8.3 percent in February 2012 to 7.7 percent in February 2013.
All Colorado estimates from the establishment and household surveys, including greater geographic detail, are available at: http://www.colmigateway.com. Estimates for all states and the nation are available at: http://www.bls.gov.