Employers in Colorado added 8,600 nonfarm payroll jobs in February, outpacing previous months.
Those new jobs brought the total number of jobs to 2,701,800 jobs, according to the survey of business establishments released Friday by the Colorado Department of Labor and Employment.
The monthly gain of 8,600 non-farm payroll jobs was higher than the state’s 12-month average gain of 3,817 jobs, according to the CDLE data. And the gains topped previous months when the average gain was 4,800 jobs.
In February, it was the private sector that added 9,000 jobs but government, again, decreased jobs — this time by 400.
All told, February still ended with more than 3 million Coloradans in the labor force.
Unemployment in the Centennial state held at 3 percent, which remains lower than the U.S. unemployment rate at 4.1 percent. The statewide jobless rate of 3 percent is the same as the previous month and a slight jump over the three straight months — April through June — when the unemployment rate was 2.3 percent, a four-decade low dating back to when the state began record-keeping in 1976. Over the year, the unemployment rate is up three-tenths of a percentage point from 2.7 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls increased from 32.9 to 33.3 hours and average hourly earnings increased from $27.44 to $28.32.
The largest over the month private sector job gains were in construction, trade, transportation, and utilities, and manufacturing and there were no significant declines in any one sector.
All the new jobs add up to an over-the-year increase of 63,400, with 59,000 of those jobs in the private sector and 4,400 in government. And, construction tops the list of most jobs added over the year.
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