RBC I The unemployment rates in Rio Blanco County and the State of Colorado continued to drop in May, setting a strong trend of new jobs as the state heads into summer.
In Rio Blanco County, the May unemployment rate dropped from 4.7 percent to 4.3 percent in April, and those two months compare to 5.5 percent reported in the county in May 2013.
County figures for May 2014 show 4,224 persons in the workforce, 4,041 who are employed and 183 residents unemployed.
Those figures compare to April 2014, when 4,079 were in the workforce; 3,888 who were employed and 191 were unemployed.
In May 2013, there were 4,306 residents in the workforce; 4,071 were employed and 235 were unemployed.
Statewide, non-farm payroll jobs increased 9,100 from April to May to 2,443,800 jobs, according to the survey of business establishments. Private sector payroll jobs increased 8,700 and government increased 400.
Colorado has had 31 consecutive months of payroll job gains. According to the survey of households, the unemployment rate decreased two tenths of a percentage point in May to 5.8 percent. The last time the Colorado unemployment rate was 5.8 percent or lower was November 2008, when the rate was 5.7 percent.
The number of people participating in the labor force increased 3,100 over the month and the number of people reporting themselves as employed increased 7,500.
The larger increase in total employment than in the labor force caused the number of unemployed to decrease 4,300 and the unemployment rate to decline to 5.8 percent. The national unemployment rate was unchanged in May at 6.3 percent.
The lowest unemployment rate was found in Yuma County with 3.0 percent unemployed. The counties with the highest rate of unemployment are Pitkin (Aspen) and San Miguel County (Telluride), both at 9.8 percent.
Over the year, the average workweek for all employees on private non-farm payrolls decreased from 34.6 to 34.1 hours and average hourly earnings increased from $25.47 to $26.28.
The largest over-the-month private sector job gains were in construction, professional and business services, and leisure and hospitality. There were no significant declines.
Over the year, non-farm payroll jobs increased 70,500. Private sector payroll jobs increased 65,000 and government increased 5,500.
The largest private sector job gains were in professional and business services, leisure and hospitality, and education and health services. Information was the only sector to decline over the year.
Over the year, the unemployment rate declined 1.1 percent from 6.9 percent in May 2013.
The number of Coloradans participating in the labor force increased 46,900, total employment increased 73,900 and the number of unemployed decreased 27,000.
The national unemployment rate declined from 7.5 percent in May 2013 to 6.3 percent in May 2014.
All Colorado estimates from the establishment and household surveys, including greater geographic detail, are available at www.colmigateway.com. Estimates for all states and the nation are available at www.bls.gov.
Non-farm payroll job estimates are based on a survey of business establishments and government agencies, and are intended to measure the number of jobs, not the number of people employed. Other series based on this survey include private sector average weekly hours, average hourly earnings and average weekly earnings.
The unemployment rate, labor force, labor force participation, total employment and the number of unemployed are based on a survey of households. The total employment estimate derived from this survey is intended to measure the number of people employed.
The business establishment survey covers about seven times the number of households surveyed and is therefore considered a more reliable indicator of economic conditions.
Because the estimates are based on two separate surveys, one measuring jobs by worksite and the other measuring persons employed and unemployed by household, estimates may vary.
