Colorado Employment Situation: January 2015

Employers in Colorado added 3,700 nonfarm payroll jobs from December to January for a total of 2,496,500 jobs, according to the survey of business establishments. Private sector payroll jobs increased 6,400 and government decreased 2,700.

According to the survey of households, the unemployment rate was unchanged from December 2014 to January 2015 at 4.2 percent. The number of people actively participating in the labor force increased 3,500 to 2,827,700 and total employment increased 4,900 to 2,709,500 causing the number of unemployed to decline 1,400. However, due to rounding, the unemployment rate was unchanged from December at 4.2 percent. The national unemployment rate increased one-tenth of one percentage point over the same period to 5.7 percent.

The largest over the month private sector job gains were in education and health services, leisure and hospitality, and construction. Professional and business services declined over the month.

Over the year, nonfarm payroll jobs increased 71,100 with an increase of 70,500 in the private sector and an increase of 600 in government. The largest private sector job gains were in education and health services, leisure and hospitality, and construction. Information declined over the year.

Over the year, the unemployment rate is down one and six-tenths of a percentage point from 5.8 percent in January 2014. The number of Coloradans participating in the labor force increased 38,100, total employment increased 80,600 and the number of unemployed decreased 42,500. The national unemployment rate declined from 6.6 to 5.7 percent from January 2014 to January 2015.

Revised figures show Colorado lost 155,400 payroll jobs from a peak of 2,362,700 reached May 2008 to a trough of 2,207,300 reached January 2010. Revisions also indicate full recovery occurred in March 2013 when Colorado total nonfarm payroll jobs exceeded the May 2008 peak and reached a level of 2,363,500.

The annual growth rate of Colorado nonfarm payroll jobs was 3.3 percent in 2014 revised up from 2.7 percent. The U.S. annual payroll jobs growth rate in 2014 was 1.9 percent.

The unemployment percentages by southeast Colorado county are as follows:

.                             Jan 2015           Unemp                Dec 2014              Jan 2014             Unemp

Baca                       2.5                          49                           1.5                          3.3                          71
Bent                       5.0                          81                           3.3                          7.0                       148
Crowley                 5.5                          69                           4.6                        10.5                       168
Kiowa                    3.1                          23                            1.8                          3.5                         31
Kit Carson            2.8                        123                           2.2                          4.1                        173
Las Animas          6.8                       429                            5.0                          9.2                       719
Otero                     7.7                        601                            5.5                          8.5                       751
Prowers                4.7                        256                            2.9                          4.5                       344