Phil Castle, The Business Times

The unemployment rate retreated in Mesa County in August following three consecutive months of gains. The jobless rate also edged down in Grand Junction.

The seasonally unadjusted jobless rate for Mesa County fell two-tenths of a point to 4.4 percent. The unemployment rate slipped a tenth of a point to 4.7 percent in Grand Junction, according to the latest estimates from the Colorado Department of Labor and Employment.

Between July and August, Mesa County payrolls increased 624 to 73,911 even as the number of people counted among those unsuccessfully looking for work decreased 91 to 3,417. The labor force, which includes the employed and unemployed, grew 577 to 77,328.

In Grand Junction, payrolls edged up 252 to 29,793. The ranks of the unemployed slipped 34 to 1,470. The labor force edged up 218 to 31,263.

For Mesa County, monthly unemployment rates so far in 2024 have ranged from a high of 4.7 percent in February to a low of 3.6 percent in April. Three months of gains pushed the jobless rate to 4.6 percent in July.

September labor estimates are set for publication Oct. 18.

For August, the jobless rate also retreated in two neighboring western Colorado counties: two tenths of a point to 4.3 percent in Rio Blanco County and a tenth of a point to 4 percent in Montrose County. The unemployment rate increased two-tenths of a point to 3.6 percent in Garfield County and held steady at 4.3 percent in Delta County.

The statewide seasonally adjusted unemployment rate edged up a tenth of a point to 4 percent, the first time the state rate reached that level since January 2022. Nonfarm payrolls increased 7,400 between July and August.
The unemployment rate and nonfarm payrolls are estimated using separate surveys of households and businesses, respectively.

According to the latest results of the household survey, the number of employed people in Colorado grew 2,000 between July and August to more than 3.1 million. But the number of unemployed people increased 2,200 to 128,500.

The statewide labor force increased 4,100 to top 3.2 million. The labor force participation rate — the proportion of people working or looking for work — remained unchanged for a third consecutive month at 67.9 percent.

According to the latest results of the business survey, nonfarm payrolls grew 7,400 between July and August to nearly 3 million. Private sector payrolls increased 7,700, while government payrolls decreased 300. Employment increased 2,900 in professional and business services, 2,800 in educational and health services and 1,300 in construction.

The initial estimate for payroll gains in July were revised downward 4,000 to 800.

Over the past year, nonfarm payrolls increased 41,900. Employment increased 11,100 in educational and health services, 5,400 in professional and business services and 5,300 in leisure and hospitality. Payrolls declined 2,800 in the information sector and 2,400 in construction.

The average workweek for employees on private, nonfarm payrolls held steady over the past year at 33.3 hours. Average hourly earnings increased $2.04 to $37.80.