Springs area unemployment drops in August

Filed under: Daily News |

The unemployment rate in the Colorado Springs Metropolitan Statistical Area dropped to 9.1 percent in August, down from 9.8 percent in July, according to the Colorado Department of Labor and Employment.

El Paso County’s unemployment rate was 9.1 percent, while Teller County’s was 8.1 percent, the figures said. That means more than 27,000 people remain unemployed in the area.

Unemployment was higher than the Springs’ rate in Alamosa, Montrose and Pueblo MSAs.

The drop in unemployment was higher than the state’s decrease of one tenth of a percent in August to 8.2 percent, according to CDLE figures.

The statewide decrease was caused by a lower number of people actively participating in the labor force, and not a decline in those reporting their status as employed.

The national unemployment rate decreased two-tenths of a percent in August to 8.1 percent. The last time Colorado’s rate was higher than the rest of the nation was in September 2005.

Over the ear, the average workweek for all employees on nonfarm payrolls increased from 34.5 to 34.9 hours and hourly earnings increased from $23.66 to $24.48.

Over the year, payroll jobs have increased by 33,300 statewide. Private sector payroll jobs increased by 31,000, and government jobs increased by 2,000. The largest private sector gains were in professional and business services, construction and financial activities.

 

One Response to Springs area unemployment drops in August

  1. The way unemployment statistics work, perhaps someday there will only be one job left, and if it’s filled by someone the headlines could read “Unemployment drops to 0% – Full employment at last!”

    John
    September 24, 2012 at 1:36 am