63.8 F
Pagosa Springs
Friday, June 9, 2023

County unemployment rises in January, state unemployment at pre-pandemic levels

By Josh Pike | Staff Writer

According to a March 13 press release from the Colorado Department of Labor and Employment, Archuleta County’s unemployment rate rose from 2.6 percent in December 2022 to 3.2 percent in January 2023.

Archuleta County unemployment has generally decreased over the past year.

From December 2022 to January 2023, Archuleta County’s labor force shrunk from 7,002 to 6,837.

For the month of January, there were 6,619 individuals employed in Archuleta County, according to the press release. This figure is down from the December 2022 report of 6,819 individuals employed in Archuleta County.

County-level unemployment rates are not seasonally adjusted.

According to the press release, the county with the highest unemployment rate for January was Huerfano County at 7.3 percent, followed by Fremont County at 5 and Las Animas County at 4.9.

Costilla County and Montezuma County are tied at 4.7 percent, while Rio Grande County is next at 4.6 percent.

The state’s unemployment rate remained even at 2.8 percent between the revised December 2022 rate and the January 2023 rate.

The state’s labor force increased from 3,198,400 in December 2022 to 3,206,400 in January.

The press release notes, “Colorado’s seasonally adjusted unemployment rate was unchanged in January compared to the revised December rate of 2.8 percent. The number of unemployed individuals rose by 1,300 over the same time period to 90,400. As revised, Colorado’s unemployment rate has remained below 3.0 percent for nine consecutive months and has returned to pre-pandemic levels. The national unemployment rate declined by one-tenth of a percentage point to 3.4 percent, a 54-year low.”

A press release from the Colorado Governor’s Office quotes Gov. Jared Polis stating on the unemployment results, “With Colorado’s unemployment rate dropping below three percent, it is clear that Colorado is the best place to live, work, and do business. More entrepreneurs are starting businesses in our state and we are outcompeting other states for businesses and jobs. As we continue to grow our strong economy, I am committed to saving people money, cutting red tape, and expanding opportunities to help support our workforce.”

Employers in Colorado added 800 nonfarm payroll jobs from December 2022 to January 2023, bringing the total number of jobs in Colorado to 2,883,000.

Nonfarm payroll jobs measure the number of workers excluding farmers.

The press release notes that Colorado has added 438,800 nonfarm payroll jobs over the past 33 months, compared to losses totaling 376,900 in March and April 2020. 

“That translates to a job recovery rate of 116.4 percent, which exceeds the U.S. rate of 112.3 percent,” it states.

The press release also states that, “Since May 2020, Colorado’s private sector has grown by 436,100 jobs, compared to declines of 362,100 in early 2020. That translates to a job recovery rate of 120.4 percent, compared to the national rate of 115.2 percent.”

The private-industry sectors with significant job gains in January included:

• Professional and business services at about 1,300.

• Educational and health services at about 2,200.

The industries with significant over-the-month declines included:

• Construction at about 1,100.

• Financial activities at about 1,300.

“Since January 2022, nonfarm payroll jobs have increased 57,000, with the private sector growing by 52,900 and government adding 4,100 jobs,” the press release notes.

Since January 2022, the largest private-sector job gains include:

• Leisure and hospitality at about 20,000.

• Professional and business services at about 18,400.

• Trade, transportation and utilities at about 6,200.

Since January 2022 the largest private sector job losses include:

• Financial activities at about 2,700.

• Information at about 700.

According to the press release, “Over the year, the average workweek for all Colorado employees on private nonfarm payrolls decreased from 33.5 to 33.4 hours, while average hourly earnings grew from $34.18 to $36.14, over three dollars more than the national average hourly earnings of $33.03.”


Related Articles

- Advertisement -

Upcoming Events

Latest Articles