Labor Department Data Shows in December Colorado’s Unemployment Rate Dropped to 3.5 Percent
Data from state released on Tuesday, showed that in December Colorado added 10,700 jobs and ended the year with a record low unemployment rate of 3.5 percent.
The biggest jobs gains for the period in November to December were noted in manufacturing, leisure and hospitality and the construction sectors.
The losing sectors were mining and logging, noting a month on month job loss of four hundred that rounded up at 34,100 jobs. The cluster in the sector to see job losses included oil and gas, mining, quarrying, and extraction of natural gas.
The data from the Colorado Department of Labor and Employment showed that in the year, nonfarm payroll jobs climbed by 46,600. For December, the estimates were 10,000 new jobs in the private sector and seven hundred in government sector and that's the biggest monthly gains in jobs for 2015.
The December data for unemployment rate for matches the April 2007 figures. In 2001May, the Colorado's unemployment rate dropped lower than the recent low to 3.3 percent.
U. S. Bureau of Labor Statistics said that nationwide unemployment rate has held steady from November remaining at five percent. Thirty six states saw an increase in nonfarm payroll jobs and California occupied the top position in monthly gain with 60,400 positions.
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