Archuleta County’s unemployment rate fell slightly to 3.1 percent in August, according to a recent report from the Colorado Department of Labor and Employment (CDLE).
The county’s unemployment rate was 3.7 percent in May, 3.6 percent in June and 3.2 percent in July.
Archuleta County’s rate of 3.1 percent in August compares to 4.4 percent in August 2024.
Archuleta County’s labor force totaled 6,750 in August, according to the report, with 209 unemployed. That compares to a July labor force of 6,914 and 223 unemployed.
Colorado’s seasonally adjusted unemployment rate fell to 4.2 percent in August, compared to 4.5 percent for the month of July.
According to the survey of households, the number of unemployed individuals decreased by 7,200 to 148,100 from June to July.
“Colorado’s labor force decreased by 4,700 in August to 3,275,600,” states a press release from the CDLE. “The share of Coloradans participating in the labor force was 67.4 percent in August, two-tenths of a percentage point lower than the month prior, this marks the lowest labor force participation rate since December 2020. The U.S. labor force participation rate increased one-tenth of a percentage point to 62.3 percent in August.”
The national unemployment rate increased one-tenth of a percentage point to 4.3 percent from July to August.
Costilla County again had the highest unemployment rate in the state in August at 6.4 percent, followed by Huerfano County at 5.9 percent.
Regionally, the data shows La Plata County with a 3.1 percent unemployment rate in August, San Juan County at 2.8 percent, Mineral County at 3.9 percent, Rio Grande County at 4.0 percent and Conejos County at 3.8 percent.
Job loss, growth
Employers in Colorado gained 3,000 nonfarm payroll jobs from July to August for a total of 2,991,500 jobs, according to the survey of business establishments. Private sector payroll jobs increased by 3,300, while government lost 300 jobs.
The press release accompanying the report notes, “July estimates were revised up to 2,988,500, and the over the month change from June to July was an increase of 5,100 jobs rather than the originally estimated increase of 3,700 (monthly revisions are based on additional responses from businesses and government agencies since the last published estimates).”
Nonfarm payroll jobs estimates are based on a survey of business establishments and government agencies, and are intended to measure the number of jobs, not the number of people employed.
The private-industry sectors with significant over-the-month job gains in August were:
• Educational and health services at about 3,000 jobs.
• Professional and business services at about 1,700.
The private-industry sector with significant over-the-month job losses was:
• Financial activities at about 2,100 jobs.
Since August 2024, nonfarm payroll jobs have increased 18,300, with the private sector increasing by 8,800 and government adding 9,500 jobs.
The largest private-sector job gains were:
• Educational and health services at about 8,700 jobs.
• Leisure and hospitality at about 8,300.
• Information at about 1,800.
During the same period, payroll jobs declined in:
• Financial activities by about 4,900 jobs.
• Trade, transportation and utilities by about 2,400.
• Professional and business services by about 1,700.
“Colorado’s rate of job growth over the past year is 0.6 percent, below the U.S. rate of 0.9 percent,” the report notes.
It further notes that, over the year, the average workweek for all Colorado employees on private nonfarm payrolls increased from 33.3 to 33.5 hours, while average hourly earnings grew from $37.72 to $39.13, $2.60 more than the national average hourly earnings of $36.53.
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