November 2024 | Released December 19, 2024

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United States Employment Snapshot

• In November, among the 50 states and the District of Columbia unemployment fell in 6, rose in 25, and remained unchanged in 20.

• The highest unemployment rate was 5.7 percent in Nevada, and the lowest was 1.9 percent in South Dakota. Nationally, the unemployment rate rose by 0.1 percentage point to 4.2 percent.

• In November, payroll jobs rose in 39 states and fell in 12. The largest payroll job percent increase was 0.9 percent in Washington. The largest payroll job percent decline was 0.3 percent in Vermont.

Colorado Employment Snapshot

• In November, Colorado lost 3,900 net payroll jobs and the unemployment rate rose by 0.2 percentage point to 4.3 percent. In the prior month, Colorado added 4,100 net payroll jobs.

• Over the past 12 months, Colorado added 52,900 net payroll jobs and the unemployment rate rose by 1 percentage points from 3.3 percent.

• Nationally, nonfarm payrolls rose by 227,000 in November, or 0.1 percent. Colorado is tied for 11th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.

• In November, Colorado’s private sector lost 5,500 net private payroll jobs, and over the past 12 months it added 35,100 private payroll jobs. In the prior month, Colorado added 4,000 net private payroll jobs.

• In November, employment in Colorado fell by 4,859, and over the past 12 months it fell by 17,623.

• Colorado’s labor force participation rate remained steady at 67.9 percent in November and ranks 5th in the nation. In the past 12 months, the labor force participation rate has fallen by 0.4 percentage points.

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Colorado Payroll Employment

• Colorado lost 3,900 net payroll jobs, or -0.1 percent, on a seasonally adjusted basis during November. In the prior month, Colorado added 4,100 jobs. Colorado nonfarm payroll employment has increased in 11 of the past 12 months.

• Nationally, nonfarm payrolls rose by 227,000 in November, or 0.1 percent. Colorado is tied for 11th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.

• Colorado lost 5,500 private sector jobs, or -0.2 percent. on a seasonally adjusted basis during November. In the prior month, Colorado added 4,000 jobs. Colorado private sector payroll employment has increased in 9 of the past 12 months.

• Nationally, private sector payroll jobs rose by 194,000 jobs in November, or 0.1 percent. Colorado is tied for 24th 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 November were Government (1,600) and Education and Health Services (1,100).

• The poorest performing sectors during the month were Trade, Transportation, and Utilities (-2,300) and Professional and Business Services (-3,500).

• The best performing sectors during the last 12 months were Government (17,800) and Education and Health Services (12,300).

• The poorest performing sectors during the last 12 months were Manufacturing (-500) and Information (-3,500).

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 November.

• 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 62.5 percent in November.