Press Release October 2009

For Immediate Release

Date:                November 20, 2009/ 9:00 A.M.

Contact:            Office of Government and Public Relations

Phone:              (303) 318-8004

Fax:                  (303) 318-8070

Web:                 http://lmigateway.coworkforce.com/lmigateway/

COLORADO LABOR FORCE DEVELOPMENTS

OCTOBER 2009

Labor Force[i]

Colorado’s seasonally adjusted unemployment rate fell to 6.9 percent in October, according to Donald J. Mares, Executive Director of the Colorado Department of Labor and Employment. “While the continued decline in the unemployment rate is very good news and our economy is faring better than many other states, this remains a difficult time for many Coloradans,” said Mares. “We must continue to focus on assisting job seekers and employers to achieve a sustained recovery,” he continued. The October 2008 unemployment rate was 5.3 percent.

The number of working Coloradans fell 9,600 over the month to 2,474,300 out of a civilian labor force of 2,658,600. The number of residents unsuccessfully seeking work declined by 3,200 to 184,300. Last October, total employment was 2,595,500, the civilian labor force was 2,739,800 and the number of unemployed was 144,300.

Local economic conditions were mixed as the unemployment rate (not seasonally adjusted) declined in 28 of Colorado’s 64 counties, increased in 25 and remained unchanged in 11. The lowest rate was 2.1 percent in Cheyenne County and the highest was 13.5 percent in Dolores County. Last year, the unemployment rate declined in 7 counties, increased in 53 and was unchanged in 4. In October 2008, the lowest rate was 2.1 percent in Yuma County and the highest was 7.3 percent in Crowley County.

Wage and Salary Employment[ii]

The monthly survey of Colorado business establishments indicates nonfarm wage and salary jobs (not seasonally adjusted) decreased 4,500 in October to 2,246,400.

Employment in five of Colorado’s eleven major industry sectors increased over the month. Government added 7,300 jobs and education and health services payrolls increased 1,900. Professional and business services increased 500 and trade, transportation and utilities, and information each increased 300. Leisure and hospitality lost 7,100 jobs; this industry is expected to pick up again over the next few months as the ski season peaks. Construction and manufacturing continued to decline with losses of 4,800 and 1,100 jobs, respectively. Financial activities declined by 900 jobs and other services and mining and logging declined by 600 and 300, respectively.

Nonfarm payroll employment decreased over the year by 4.3 percent, or 100,500, from the October 2008 level of 2,346,900.

Two of Colorado’s eleven major industry sectors increased over the year. Education and health services grew 7,100 and government increased 6,100. The three goods producing industries account for almost half of Colorado’s employment losses: construction, manufacturing, and mining and logging are down 25,800, 14,900 and 6,400, respectively. Professional and business services and trade, transportation and utilities are down 21,200 and 18,800, respectively. Other losses are: leisure and hospitality (9,600), financial activities (8,600), information (4,700), and other services (3,700).

National[iii]

According to the Bureau of Labor Statistics, the nation’s unemployment rate was 10.2 percent and nonfarm payroll employment declined by 190,000 in October. Temporary help services has added 44,000 jobs since July, including 34,000 in October. From January 2008 through July 2009, temporary help services had lost an average of 44,000 jobs per month.