The Department of Labor and Employment Announced Unemployment Rate in Colorado Declines to 6.1%

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DENVER, CO - The Department of Labor and Employment published a press release regarding the Colorado Employment Situation in July 2021 on August 20. It reports that 14,800 nonfarm payroll jobs have been added in July and the unemployment rate declines to 6.1%.

The release informed the data divided into household survey data and establishment survey data. The survey of households said that the decline in the Colorado unemployment rate was accompanied by the national unemployment rate which also declined to 5.4 percent.

Furthermore, the data shows a decline of 2,800 Colorado's workforce in July. Coloradans' participation rate in the workforce is 68.3, which means that it is only slightly different from the labor force participation rate in February 2020 of 68.7 percent.

There was a growth in the number of individuals employed in Colorado by 400 to 2,999,500. The increase is also evident in Colorado's employment-to-population ratio since April 2020, when it stood at 57.0 percent, though still below the pre-pandemic level of 66.8 percent.

Then, the five counties that have the highest unemployment rate and exceed the Colorado rate are Pueblo (8.6%), Huerfano (8.4%), Las Animas (7.0%), Adams (6.8%), and Gilpin ( 6.8%).

In the establishment survey data, it is said that employers added 14,800 nonfarm payroll jobs to 2,733,600 jobs. Meanwhile, private-sector payroll jobs increased by 8,500 and the government added 6,300 jobs.

Colorado has recovered 290,400 of the 375,800 nonfarm payroll jobs lost between February and April 2020. The job recovery rate of 77.3 percent was 2.8 percent higher than the US rate of 74.5 percent.

For individuals who want to know all the data from the establishment and household survey, check it at www.colmigateway.com. The page will also host the publication of the Colorado Employment Rate in August. While estimates for all states and nations are available at: www.bls.gov.

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