1,500 nonfarm payroll jobs added in September;
Unemployment rate rises to 3.2 percent
Household survey data
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According to the household survey, Colorado's seasonally adjusted rate unemployment rate rose a tenth of a percentage point in September to 3.2 percent compared to August's rate of 3.1 percent. He number of unemployed people grew by 3,600 over the same time period to 103,500. The national unemployment rate was 3.8 percent in September, unchanged from the previous month.
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colorado labour decreased by 2,500 in September to 3,252,600. The share of Coloradans participating in the labor force fell slightly to 68.6 percent in September, compared to 68.7 percent the previous month. The U.S. labor force participation rate was 62.8 percent in September, matching the rate in August.
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He number of people employed in Colorado decreased by 6,100 in September to 3,149,100, representing 66.4 percent of the state's 16+ population. Colorado's employment-to-population ratio of 66.4 in September was two-tenths of a percentage point lower compared to August's rate of 66.6 percent. The national employment-population ratio remained stable in September at 60.4 percent.
Establishment survey data
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Colorado employers added 1,500 nonfarm payroll jobs from August to September for a total of 2,917,800 jobs, according to the survey of commercial establishments. Private sector payroll jobs decreased by 600, while the government added 2,100 jobs.
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August estimates were revised to 2,916,300, and the monthly change from July to August was a gain of 5,900 rather than the originally estimated increase of 5,600 (the monthly revisions are based on additional responses from businesses and government agencies since the last published estimates).
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The private industry sector with significant employment gains in September it was: professional and business services (โ2,300). During the month there was a significant loss of jobs in the private sector in other services (โ2,600).
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From September 2022, non-farm jobs have increased by 40,000, the private sector has grown by 21,000, and the government has added 19,000 jobs. The longest increase in employment in the private sector They were in leisure and hospitality (โ22,300), professional and business services (โ9,000), and educational and health services (โ5,900). During that same period financial activities (โ8,100), commerce, transportation and public services (โ4,800), construction (โ4,200), information (โ1,800) and other services (โ600). rejected payroll jobs. colorado employment growth rate over the past year it is 1.4 percent, below the U.S. rate of 2.1 percent.
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Throughout the year, the average work week for all Colorado employees on private nonfarm payrolls decreased from 33.5 to 33.4 hours, while average hourly earnings grew from $34.44 to $35.75. Median hourly earnings in Colorado are one dollar and eighty-seven cents higher than the national median hourly earnings of $33.88.
All Colorado estimates from the establishment and household surveys, including greater geographic detail, are available at: www.colmigateway.com. Estimates for all states and the nation are available at: www.bls.gov.
For data visualizations, visit public.tableau.com/app/profile/cdle.lmi.
He October 2023 Employment Situation in Colorado will be released at 8:00 a.m. on Friday, November 17, 2023. The full schedule of release dates for calendar year 2023 estimates is available at www.colmigateway.com.
Technical notes
This release provides information on industry employment and workforce statistics for September 2023, the most recent estimates available from the Colorado Department of Labor and Employment. The reference period for the establishment and household surveys was the payment period or week that includes the 12th Of the month.
The unemployment rate, labor force, labor force participation, total employment, and number of unemployed are based on a household survey. The estimate of total employment derived from this survey is intended to measure the number of people employed.
Nonfarm employment estimates are based on a survey of business establishments and government agencies, and are intended to measure the number of jobs, not the number of people employed. Other series based on this survey include average weekly hours, average hourly earnings, and average weekly earnings for the private sector.
The survey of business establishments covers approximately seven times the number of households surveyed and is therefore considered a more reliable indicator of economic conditions. Since the estimates are based on two separate surveys, one measuring jobs by workplace and the other measuring employed and unemployed people by household, estimates based on these surveys can provide seemingly contradictory results.
Resources mentioned
Supplementary information
Labor force summary September 2023
City report September 2023
September 2023 County Report
September 2023 Press Release
