September 16, 2022
United States Employment Situation
Bureau of Labor Statistics (BLS) data for the 50 states and DC released at 10:00am on September 16, 2022In August, unemployment fell in 7 states, rose in 32, and remained unchanged in 12.
The highest unemployment rate was 5.1 percent in District of Columbia. The lowest unemployment rate was 1.9 percent in Minnesota. Nationally, the unemployment rate rose by 0.2 percentage point to 3.7 percent.
In August, payroll jobs rose in 37 states and fell in 14. The largest payroll job percent increase was 1.4 percent in Kentucky. The largest payroll job percent decline was 0.7 percent in Mississippi.
Colorado Employment Situation
Colorado added 12,400 net payroll jobs and the unemployment rate rose by 0.1 percentage point to 3.4 percent in August.
Over the past twelve months, Colorado added 108,300 payroll jobs and the unemployment rate fell by 1.9 percentage points from 5.3 percent.
In August, Colorado’s private sector added 14,500 net private payroll jobs and over the past twelve months it added 106,900 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed rose by 4,567 on net in August, and over the past year employment rose by 143,499.
Colorado’s labor force participation rate rose to 69.6 percent in August from 69.5 percent. Since last year, the labor force participation rate rose by 1.1 percentage points.
Colorado Payroll Employment
Colorado added 12,400 net payroll jobs, or 0.4 percent, on a seasonally adjusted basis during August. In the prior month, Colorado added 1,900 jobs. Over the past twelve months, Colorado added 108,300 payroll jobs, or 3.9 percent. Colorado nonfarm payroll employment had increased in each of the past 12 months.
Nationally, nonfarm payrolls rose by 315,000 in August, or rose by 0.2 percent. Over the 12-month period ending with August, nonfarm payrolls rose by 5,840,000 jobs, or 4 percent. Colorado ranks 12th among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During August, Colorado’s private-sector added 14,500 jobs, or approximately 0.6 percent. The private-sector in Colorado lost 800 jobs in the prior month. Over the past twelve months, private-sector payrolls in Colorado added 106,900, or 4.6 percent. Colorado private-sector payroll employment has increased in 11 of the past 12 months.
Nationally, private-sector payroll jobs rose by 308,000 jobs in August, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,702,000 jobs in the private sector, or 4.6 percent. Colorado is tied for 9th among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during August were Professional and Business Services (1,600) and Education and Health Services (1,000). The poorest performing sectors during the month were Leisure and Hospitality (-300) and Government (-2,200).
The best performing sectors during the last twelve months were Professional and Business Services (7,800) and Manufacturing (7,400). The poorest performing sectors during the last twelve months were Information (300) and Mining and Logging (0).
Colorado Labor Force Statistics
Labor Force Participation
The labor force participation rate in Colorado rose to 69.6 percent in August from 69.5 percent in the prior month. At a labor force participation rate of 69.6 percent, Colorado ranks 3rd in the nation. The labor force participation rate in Colorado rose by 1.1 percentage points from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in Colorado was 69.6 percent last occurring in August 2022. The series high for the labor force participation rate in Colorado last occurred in August 1998 when the labor force participation rate hit 74.3 percent. The 10-year low for the labor force participation rate was 65.6 percent in July 2020. This also represents the series low for the labor force participation rate in Colorado.
The national labor force participation rate rose by 0.3 percentage
points over the month to 62.4 percent in August. That rate rose by 0.7
percentage point from a year earlier. The all-time high for the national
labor force participation rate was 67.3 percent in April 2000. The
10-year high for the national labor force participation rate was 63.8
percent in October 2012. The recent 10-year low occurred in April 2020
at a level of 60.2 percent. The series low for the national labor force
participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the Colorado civilian noninstitutionalized population 16 years and older counted as employed, in August remained unchanged. At 67.2 percent, Colorado ranks 5th among state employment-to-population ratios in the nation. The employment-to-population ratio in Colorado rose by 2.4 percentage points from a year earlier.
The 10-year high for the employment-to-population ratio in Colorado was 67.2 percent last occurring in August 2022. The series high for the employment-to-population ratio in Colorado last occurred in December 1998 when the employment-to-population ratio hit 71.5 percent. The 10-year low for the employment-to-population ratio was 58.4 percent in April 2020. This also represents the series low for the employment-to-population ratio in Colorado.
The national employment-to-population ratio rose by 0.1 percentage point over the month to 60.1 percent in August. That rate rose by 1.6 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.
State employment and unemployment data for September is scheduled for release October 21, 2022. The national employment situation report for September will be released October 07, 2022.