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December 2024 county unemployment rate drops slightly

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Archuleta County’s unemployment rate declined two-tenths of a percentage point in December 2024 to 4.4 percent, according to a report released by the Colorado Department of Labor and Employment (CDLE) on Jan. 27.

That figure represents a slight decrease from November 2024’s rate of 4.6 percent, according to the report, but an increase from December 2023, when the county’s unemployment rate was 3.1 percent.

At 4.4 percent, the county’s rate mirrored the state’s average — with about 144,400 individuals unemployed across Colorado, according to the CDLE’s survey of households from November to December 2024.

The national unemployment rate decreased one-tenth of a point to 4.1 percent during the same time period.

In Archuleta County, the labor force numbered 6,655 in December 2024, according to the report — up from 6,622 in November.

A map provided by the CDLE shows Huerfano County with the highest unemployment rate last month at 7.6 percent, followed by Las Animas County at 6.9 percent, Fremont at 6.6 percent and Rio Grande at 6.1 percent.

Slight decreases in unemployment rates were seen across the southwest region, according to the report, with La Plata County at a rate of 4 percent, Hinsdale County at 3.5 percent, Mineral County a rate of 5.1 percent and Conejos County at 4.3 percent.

At the state level, “The number of individuals employed in Colorado decreased by 3,300 in December to 3,110,600, which represents 64.9 percent of the state’s 16+ population,” the release states. “The national employment-population ratio increased two-tenths of a percentage point to 60.0 percent from November to December.”

Employers in Colorado gained 300 nonfarm payroll jobs during that same time period for a total of 3,010,000 jobs, according to the survey of business establishments. Private-sector payroll jobs decreased by 800, while government added 1,100 jobs.

Nonfarm payroll jobs measure the number of workers excluding farmers.

According to the CDLE, private-industry sectors with significant job gains over the month were professional and business services with about 1,300 jobs added, as well as manufacturing, which added about 1,100.

In contrast, private-industry sectors with significant over-the-month job losses were found in leisure and hospitality with about 1,300 losses, and financial activities with about 1,200 fewer jobs.

“Since December 2023,” the press release states, “nonfarm payroll jobs have increased 48,600, with the private sector growing by 32,600 and government adding 16,000 jobs.”

Over the course of the year, the largest private-sector jobs gains were found in:

• Educational and health services at about 12,000;

• Professional and business services at about 7,400;

• Trade, transportation, and utilities at about 5,000;

• Construction at about 4,400; and

• Leisure and hospitality at about 3,600.

During that same period, the press release states, payroll jobs declined in Information with about 3,800 fewer jobs.

The press release notes that Colorado’s rate of job growth over the past year is 1.6 percent, above the U.S. rate of 1.4 percent.

“Over the year, the average workweek for all Colorado employees on private nonfarm payrolls increased from 33.3 to 33.6 hours, while average hourly earnings grew from $36.94 to $39.63, three dollars and ninety-four cents more than the national average hourly earnings of $35.69,” the report states.

The Bureau of Labor Statistics (BLS) announced on Dec. 18, 2024, that it would suspend future releases of the Colorado’s unemployment report due to data quality concerns.

While the CDLE notes that it “remains committed to producing high quality data and is working with the BLS to limit disruptions to all future releases,” dates for those future releases have yet to be determined.

garrett@pagosasun.com