Boulder’s unemployment rate (not seasonally adjusted) increased one-tenth of a percentage from July to August to 2.3%, according the report released Friday by the Colorado Department of Labor and Employment.
The number of people in Boulder reporting as employed (not seasonally adjusted) decreased from 65,587 in July (from a labor force of 67,094) to 65,446 (from a labor force of 66,990) in August.
The city’s unemployment rate in August 2018 was 3.1%.
Longmont’s unemployment rate came down from 2.7% in July to 2.6% in August. The number of people reporting themselves as employed (not seasonally adjusted) decreased from 53,095 in July (from a labor force of 54,562) to 52,980 (from a labor force of 54,405) in August. In August 2018, the unemployment rate in Longmont was 3.2%.
Boulder County’s unemployment rate (not seasonally adjusted) remained unchanged at 2.4% from July to August.
In Boulder County, the number of people reporting themselves as employed (not seasonally adjusted) decreased from 193,786 in July (from a labor force of 198,504) to 193, 371 (from a labor force of 198,085 in August. In August 2018, the unemployment rate in Boulder County was 3%.
“Our unemployment rate doesn’t vary too much, but wages/earnings have been moving up,” said Clif Harald, executive director of the Boulder Economic Council. Boulder County had the fourth highest year over year wage gains in the U.S. in the first quarter, he said, referring to a recent Denver Post story.
Boulder County saw an addition of 500 nonfarm jobs (not seasonally adjusted) in August and the over the year of 2,700 nonfarm jobs (not seasonally adjusted) over the year, said Ryan Gedney, a senior economic analyst with the Colorado Department of Labor and Employment.
“Government was the sole driver of industry growth for Boulder (County) from July to August. This is most likely due to the start of a new school year,” he said. Leisure and hospitality and professional and business services are the largest drivers for over the year growth, he said.
In Colorado, the number of people actively participating in the labor force increased 6,200 in August to 3,155,500 and the number of people reporting themselves as employed increased 8,400 to 3,067,200, causing the number of unemployed to decrease 2,200 and the state unemployment rate to decline one-tenth of a percentage from July to August to 2.8%. In August 2018, Colorado’s unemployment rate was 3.4%.
The national unemployment rate was unchanged in August at 3.7%. In August 2018, it stood at 3.8%.
The unemployment rate, labor force, labor force participation, total employment and the number of unemployed are based on a survey of households.
Employers in Colorado added 9,000 nonfarm payroll jobs from July to August for a total of 2,799,600 jobs, according to the survey of business establishments. Private sector payroll jobs increased 5,300 and government increased 3,700, according to the report.
The largest over the month private sector job gains were in educational and health services and financial activities as well as trade, transportation and utilities. The largest over the month decline was in information.
Over the year, nonfarm payroll jobs increased 64,900, with an increase of 54,900 in the private sector and an increase of 10,000 in government. The largest private sector job gains were in professional and business services, educational and health services, and leisure and hospitality. Information declined over the year.
Over the year, Colorado’s unemployment rate declined six-tenths of a percentage point from 3.4 percent. The number of Coloradans participating in the labor force increased 44,200, total employment increased 62,800 and the number of unemployed decreased 18,500.