Unemployment in Northwest Colorado drops for August
Steamboat Springs — Northwest Colorado’s unemployment level for August 2013 was lower than the previous year, according to the Colorado Department of Labor and Employment.
The non-seasonally adjusted labor numbers for Routt County show an unemployment rate of 5.3 percent in August, one-tenth of a percentage point lower than July. In 2012, the rate was 6.9 percent for August.
In Moffat County, the non-seasonally adjusted labor numbers show an unemployment rate of 5.8 percent in August, down three-tenths of a percentage point from July. In 2012, the rate was 7.1 percent for August.
Overall, Colorado’s unemployment level dropped one-tenth of a percentage point from July to 7 percent for August, according to the Colorado Department of Labor and Employment.
In 2012, Colorado’s unemployment level for August was 8 percent.
A news release from the Colorado Department of Labor and Employment states that 5,300 people dropped out of the labor force during August, more than than the increase of 3,300 people who reported being out of work. The larger drop off of the labor force than increase in unemployment led to the net decrease in the unemployment rate.
The national unemployment rate is 7.3 percent.
During the course of the year, the release states, the number of people participating in Colorado’s labor force increased 24,800, total employment increased 50,200 and the number of unemployed decreased 25,300.
“Over the year, nonfarm payroll jobs increased 56,800,” the release states. “Private sector payroll jobs increased 51,800 and government increased 5,000. The largest private sector job gains were in professional and business services, leisure and hospitality, and construction. The largest over the year decline was in financial activities.”
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