Colorado's payroll increases, unemployment drops to 5.3%

It's a good time to be a Coloradan: job creation increased in July and unemployment numbers dropped. 

Mark Harden --- The Denver Business Journal 

Colorado gained 5,500 payroll jobs in July from the previous month, and the state's unemployment rate fell two-tenths of a percentage point, to 5.3 percent, the lowest since October 2008, the Colorado Department of Labor and Employment reported Monday.

The state's payroll job gain in July was close to the 12-month average increase of 5,467.

Colorado last month also saw a gain in labor-force participation following June's labor force decline, CDLE said.

In July, Colorado businesses added a net 6,000 payroll positions, while government jobs declined by 500.

July was the 33rd consecutive month of payroll increases in the state.

The biggest gains in private-sector payroll jobs last month were in education/health services as well as construction and professional/business services. Meanwhile, leisure and hospitality jobs declined last month.

Over the last 12 months, payroll jobs in Colorado increased by 65,600, to 2,452,200, with private-sector jobs growing by 58,300 and government positions increasing by 7,300, CDLE said.

Over the year, the greatest job growth in the private sector was in education/health services, professional/business services, and leisure/hospitality, while financial activities and information declined.

In the last 12 months, the average workweek for employees on private nonfarm payrolls decreased from 34.8 to 34.4 hours and average hourly pay increased from $25.54 to $26.15.

The payroll job figures come from a survey of employers called the establishment survey. The survey does not cover self-employed workers not on someone else's payroll, nor does it include farm workers and certain domestic employees.

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