Colorado's unemployment rate held steady for another month at 2.3 percent in June - a record low unemployment rate, the Colorado Department of Labor and Employment announced today.
June's statewide unemployment rate now stands at 3.2%, which is up one-tenth from May.
Contributing to the decline was 1,000 construction jobs lost in what should have been a big month for the sector.
Government employers added 400 jobs - a significant change from May when it cut 900 jobs and April's cuts of 1,800 positions. "Despite a slight increase in unemployment, labor market fundamentals remain strong, with total year-over-year employment up 2 percent".
Overall, Weld in June gained another 300 jobs in the mining, logging and construction sector - which includes the oil and gas industry - over the month, bringing year-to-date addition to 1,300.
"This was the fourth consecutive decline in labor force, which is now at its lowest level in IL since March of 2006", Gough said. The nation's labor force participation rate was 62.8 percent in June, also back to levels last seen in the late 1970s.
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California's unemployment rate was unchanged at 4.7 percent in June, the EDD said.
Business services, education and health services, and leisure and hospitality saw the largest job gains in June, with the largest over the month declines in construction and information. Gedney speculates the department's numbers for mining and logging employment are likely being underestimated.
"Colorado has a very low unemployment rate and is gifted with a great economy", Acosta said.
According to the survey of households, Weld's June rate is 2.5 percent, which is two percentage points higher than it was in May, when it was 2.3 percent.
"Right now, the over-the-year growth isn't negative", he said.