October 2024
Released November 19, 2024
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United States Employment Snapshot
In October, among the 50 states and the District of Columbia unemployment fell in 8, rose in 22, and remained unchanged in 21.
The highest unemployment rate was 5.7 percent in District of Columbia and Nevada, and the lowest was 1.9 percent in South Dakota. Nationally, the unemployment rate remained unchanged in October.
In October, payroll jobs rose in 21 states and fell in 30. The largest payroll job percent increase was 0.4 percent in Idaho. The largest payroll job percent decline was 1 percent in Washington.
Colorado Employment Snapshot
In October, Colorado added 9,000 net payroll jobs and the unemployment rate rose by 0.1 percentage point to 4.1 percent. In the prior month, Colorado added 13,800 net payroll jobs.
Over the past 12 months, Colorado added 59,500 net payroll jobs and the unemployment rate rose by 0.8 percentage points from 3.3 percent.
Nationally, nonfarm payrolls rose by 12,000 in October, or 0 percent. Colorado is tied for 9th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.
In October, Colorado’s private sector added 7,800 net private payroll jobs, and over the past 12 months it added 40,000 private payroll jobs. In the prior month, Colorado added 12,000 net private payroll jobs.
In October, employment in Colorado rose by 400, and over the past 12 months it fell by 12,553.
Colorado’s labor force participation rate remained steady at 67.9 percent in October and ranks 5th in the nation. In the past 12 months, the labor force participation rate has fallen by 0.5 percentage points.
Colorado Payroll Employment
Colorado added 9,000 net payroll jobs, or 0.3 percent, on a seasonally adjusted basis during October. In the prior month, Colorado added 13,800 jobs. Colorado nonfarm payroll employment has increased in 11 of the past 12 months.
Nationally, nonfarm payrolls rose by 12,000 in October, or 0 percent. Colorado is tied for 9th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.
Colorado added 7,800 private sector jobs, or 0.3 percent. on a seasonally adjusted basis during October. In the prior month, Colorado added 12,000 jobs. Colorado private sector payroll employment has increased in 9 of the past 12 months.
Nationally, private sector payroll jobs fell by 28,000 jobs in October, or 0 percent. Colorado is tied for 14th in the nation for percentage gain in private sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during October were Professional and Business Services (2,800) and Leisure and Hospitality (2,500).
The poorest performing sectors during the month were Mining and Logging tied with Education and Health Services (0) and Manufacturing tied with Financial Activities (-100).
The best performing sectors during the last 12 months were Government (19,500) and Education and Health Services (11,400).
The poorest performing sectors during the last 12 months were Manufacturing (-1,400) and Information (-3,800).
Colorado Labor Force
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 labor force participation rate in Colorado remained unchanged at 67.9 percent in October.
Colorado ranks 5th in the nation.
The 10-year high for the labor force participation rate in Colorado was 68.9 percent in December 2019, and the 10-year low was 65.4 percent in July 2020.
The national labor force participation rate fell by 0.1 percentage points to 62.6 percent in October.