Nonfarm payroll jobs increased 500 from February to March to 2,353,600 jobs, according to the survey of business establishments. Private sector payroll jobs increased 1,100 and government decreased 600.
According to the survey of households, the unemployment rate decreased one tenth of one percentage point over the month to 7.1 percent. The decrease in the unemployment rate was caused by a larger increase in the number of people reporting their status as employed than in the number of people actively participating in the labor force. The national unemployment rate decreased one tenth of a percentage point over the same period to 7.6 percent.
Over the year, the average workweek for all employees on private nonfarm payrolls increased from 34.3 to 34.6 hours and average hourly earnings increased from $24.23 to $25.23.
The largest over the month private sector job gains were in professional and business services, education and health services, and construction. The largest over the month declines were in trade, transportation and utilities, financial activities and manufacturing.
Over the year, nonfarm payroll jobs increased 58,700. Private sector payroll jobs increased 55,700 and government increased 3,000. The largest private sector job gains were in professional and business services, leisure and hospitality, and education and health services. Information and mining and logging declined over the year. Government job gains were due to increases in local government payrolls and state and local educational services.
Over the year, the unemployment rate declined one and one tenth of a percentage point from 8.2 percent in March 2012. The number of Coloradans participating in the labor force increased 18,400, total employment increased 47,400 and the number of unemployed decreased 29,100. The national unemployment rate declined from 8.2 percent in March 2012 to 7.6 percent in March 2013.
All Colorado estimates from the establishment and household surveys, including greater geographic detail, are available at: http://www.colmigateway.com. Estimates for all states and the nation are available at: http://www.bls.gov.
The April 2013 Colorado Employment Situation will be released on Friday, May 17, 2013. The full schedule of release dates for calendar year 2013 estimates is available at http://www.colmigateway.com.