Counties Along the Front Range Add Jobs

By the BizWest Staff

DENVER — Counties in the Boulder Valley and Northern Colorado added jobs in January 2018 over the same month a year prior, although all four counties — Boulder, Broomfield, Larimer and Weld — lost jobs from December 2017.

Employers throughout Colorado added 7,100 nonfarm payroll jobs from December to January for a total of 2,693,900 jobs, according to the survey of business establishments. Private-sector payroll jobs increased by 7,300 and government decreased by 200.

According to the survey of households, the statewide unemployment rate was unchanged from December to January at 3 percent. The number of people actively participating in the labor force increased by 4,500, to 3,034,300, and total employment increased by 4,000 to 2,942,000, causing the number of unemployed to increase by 500. Due to rounding, the unemployment rate was unchanged from December at 3 percent. The national unemployment rate was unchanged over the same period at 4.1 percent.

Weld County outperformed the rest of the region north of Denver by adding 7,479 jobs January 2018 over January 2017. Larimer County added 6,146 in the same period, Boulder County 4,414 and Broomfield County 1,039. In all cases, that was fewer jobs than existed in December 2017.

Unemployment rates increased from December in all four counties and increased or stayed the same in the January-to-January comparison — except for Weld County, which saw unemployment rates decline from 3.2 percent in January 2017 to 3.1 percent in January 2018.

January 2018 unemployment rates were 2.9 percent in Boulder, Broomfield and Larimer counties.

County-by-county numbers for the state can be found here.

Over the year, the average workweek for all employees on private nonfarm payrolls increased from 33.1 to 33.2 hours, and average hourly earnings increased from $27.42 to $28.24.

The largest over-the-month private-sector job gains were in trade, transportation and utilities, education and health services, and construction, according to the state report.

Over the year, nonfarm payroll jobs increased 67,400 with an increase of 57,300 in the private sector and an increase of 10,100 in government. The largest private-sector job gains were in leisure and hospitality, construction, and professional and business services.

The annual growth rate of Colorado nonfarm payroll jobs was 2.2 percent in 2017, revised up from the previously published 1.9 percent. The U.S. annual payroll jobs growth rate in 2017 was 1.6 percent.

Over the year, the unemployment rate is up two-tenths of a percentage point from 2.8 percent. The number of Coloradans participating in the labor force increased 97,400, total employment increased 86,000. and the number of unemployed increased 11,300. The national unemployment rate declined from 4.8 percent in January 2017 to 4.1 percent in January 2018.

The annual unemployment rate for Colorado was 2.8 percent in 2017, revised up from the previously published 2.6 percent. This matches the lowest annual rate of unemployment for the state established in 2000. The U.S. unemployment rate in 2017 was 4.4 percent.

A Colorado record-low monthly unemployment of 2.6 percent occurred from March to May 2017. The prior record-low rate of 2.7 percent was in 2000.