According to a June 24 press release from the Colorado Department of Labor and Employment (CDLE), Archuleta County’s unemployment rate for the month of May was 3.6 percent.
This is up from last month’s report, showing the county had a 3.2 percent unemployment rate for the month of April.
According to the CDLE press release, the county with the lowest unemployment rate for the month of May was Cheyenne County at 2.1 percent and the highest rate was 7.4 percent in San Miguel County.
Our neighbors to the west in La Plata County had a 3.5 percent unemployment rate. Mineral County had a rate of 3.2 percent, Hinsdale County had a rate of 3.1 percent and Conejos County had a rate of 4 percent. Rio Grande County had a rate of 4.6 percent, the report indicates.
County-level unemployment rates are not seasonally adjusted.
Archuleta County’s workforce increased from 6,846 to 7,006, with individuals employed in the county increasing from 6,622 to 6,752.
The state’s unemployment rate increased from 3.7 percent in April to 3.8 percent in May.
This is the first change in the state’s unemployment rate since the February report of 3.5 percent. The months of March and April were both listed as 3.7 percent.
The state’s labor force decreased from 3,222,691 in April to 3,203,498 in May.
“The number of individuals employed in Colorado fell by 6,300 in May to 3,110,400, which represents 65.3 percent of the state’s 16 [plus] population. Colorado’s employment population ratio of 65.3 in May was one-tenth of a percentage point lower compared to the April rate of 65.4 percent. The national employment-population ratio also declined one-tenth of a percentage point in May to 60.1 percent,” the press release states.
Employers in Colorado added 9,800 nonfarm payroll jobs from April to May for a total of 2,991,100 jobs.
Nonfarm payroll jobs measure the number of workers excluding farmers.
The private-industry sectors with significant job gains in May include:
• Professional and business services at about 3,700.
• Leisure and hospitality at about 2,100.
• Construction at about 1,300.
The press release notes there were no industries with significant declines over the month.
“Since May 2023, nonfarm payroll jobs have increased 55,400, with the private sector growing by 29,900 and government adding 25,500 jobs,” the press release states.
Since May 2023, the largest private-sector job gains include:
• Educational and health services at about 16,300.
• Professional and business services at about 9,300.
• Leisure and hospitality at about 6,600.
During that same period, payroll jobs declined in:
• Trade, transportation and utilities at about 6,000.
• Construction at about 2,300.
• Information at about 2,300.
Colorado’s rate of job growth over the past year is 1.9 percent, “slightly outpacing the U.S. rate of 1.8 percent,” the press release notes.
Wages
“Over the year, the average workweek for all Colorado employees on private nonfarm payrolls increased from 32.9 to 33.5 hours, while average hourly earnings grew from $35.46 to $37.77, two dollars and eighty-six cents more than the national average hourly earnings of $34.91,” according to the CDLE press release.
On June 14, the Mountain-Plains Information Office of the U.S. Bureau of Labor and Statistics released county employment and wages in Colorado for the fourth quarter of 2023.
The report provides employment and wage levels for 55 counties in Colorado with employment levels below 75,000.
According to that report, the average weekly wage in Archuleta County for the fourth quarter of 2023 was listed at $928.
The report notes that out of all 64 Colorado counties, 12 of them reported average weekly wages from $900 to $999.
The report also notes that out of the 55 “smaller” counties (less than 75,000 employment) in Colorado, 53 were below the national average of $1,435 in the fourth quarter of 2023.
clayton@pagosasun.com
