Northern Colorado unemployment drops in August
Larimer's non-seasonally adjusted unemployment rate had been 6.7 percent in July; Weld's rate fell from 9.1 percent, according to the Colorado Department of Labor and Employment.
The seasonally adjusted statewide unemployment rate improved to 8.2 percent, or one-tenth of 1 percentage point from last month's 8.3 percent rate, according to a survey of households. Colorado's non-seasonally adjusted employment rate dropped to 7.8 percent from 8.3 percent.
The decrease in the unemployment rate was caused by a larger decline in the number of people actively participating in the labor force than the decline in those reporting their status as employed, the department said.
Nonfarm payroll jobs statewide remained unchanged from July to August at 2,293,300, according to a survey of business establishments. Average hourly earnings increased from $23.66 to $24.48.
Those jobs increased by 33,300 over the year. Private-sector payroll jobs increased 31,300, while government gained 2,000.
The largest private-sector job gains were in professional and business services, construction, and financial activities. The only significant decline in private sector payroll jobs was in information.
The largest month-to-month private-sector job gains were in financial activities and professional and business services. The largest monthly declines came from trade, transportation and utilities and leisure and hospitality.
The national unemployment rate fell to 8.1 percent, or two-tenths of 1 percentage point for the month.
The last time the Colorado unemployment rate was higher than that of the nation was September 2005.
Jobless rates in Larimer and Weld also were improved over last year, when the Larimer unemployment rate was 6.7 percent and Weld's stood at 9 percent.
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