Archuleta County’s unemployment rate rose one-half of a percentage point in October to 4.3 percent, according to a press release and report from the Colorado Department of Labor and Employment (CDLE) released Nov. 18.
That figure compares to a rate of 3.8 percent in September and a rate of 2.9 percent in October 2023, according to the report.
The county’s unemployment rate was slightly higher than the state average, which rose to 4.1 percent in October despite the state’s labor force increasing by 4,300, according to the CDLE’s report.
In Archuleta County, the labor force increased slightly to 6,765, according to the report, up from 6,743 in September.
A map of the state included in the report shows Las Animas County with the highest unemployment rate at 6.5 percent, followed by Huerfano and Fremont counties at 6.4 percent each.
Increases in the unemployment rate were seen across the southwest region, according to the report, with La Plata County at a rate of 3.8 percent, Hinsdale County at 4.0 percent, Mineral County at 4.8 percent and Conejos County at 4.1 percent.
At the state level, “the number of unemployed individuals grew by 3,900 to 134,700 from September to October,” the press release states. “Colorado’s seasonally adjusted unemployment rate increased one-tenth of a percentage point over the same time period to 4.1 percent. The national unemployment rate remained unchanged at 4.1 percent from September to October.”
Employers in Colorado added 9,000 nonfarm payroll jobs from September to October for a total of 3,019,800 jobs, according to the survey of business establishments. Private-sector payroll jobs grew by 7,800, and government grew by 1,200 jobs.
Nonfarm payroll jobs measure the number of workers excluding farmers.
For the private-industry sector, significant job gains over the month of October were observed in:
• Professional and business services at about 2,800;
• Leisure and hospitality at about 2,500; and
• Trade, transportation and utilities at about 1,100.
According the CDLE report, there were no private-industry sectors with significant job losses during the month.
“Since October 2023,” the press release states, “nonfarm payroll jobs have increased 59,500, with the private sector growing by 40,000 and government adding 19,500 jobs.”
The largest private-sector jobs gains in October were found in:
• Education and health services at about 11,400;
• Leisure and hospitality at about 7,000;
• Professional and business services at about 6,400;
• Other services at about 6,200; and
• Financial activities at about 5,400.
During that same period, the press release states, payroll jobs declined in:
• Information with about 3,800 fewer jobs; and
• Manufacturing with about 1,400 fewer.
The press release notes that Colorado’s rate of job growth over the past year is 2.0 percent, above the U.S. rate of 1.4 percent.
“Over the year, the average workweek for all Colorado employees on private nonfarm payrolls decreased from 34.0 to 33.3 hours, while average hourly earnings grew from $36.42 to $38.30, two dollars and eighty-four cents more than the national average hourly earnings of $35.46,” the report states.
The November 2024 Colorado Employment Situation report will be released Dec. 20, according to the CDLE.
garrett@pagosasun.com
