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Friday, December 3, 2021

Colorado hiring rises again in October despite high COVID-19 case count

Colorado’s economy posted strong job gains in October, with lower gains for September revised upwards significantly, a sign that growth in the state will continue despite a rising tide of COVID-19 cases, inflationary pressures and other concerns. is continuing, according to an update Friday from the Colorado Department of Labor and Employment.

Employers in the state added 10,600 non-farm payroll jobs from September to October, with the private sector adding 10,000 jobs and the public sector adding 600, according to a survey of business establishments. Profit for September, which initially came with a reduction of 5,100 jobs, was revised to a monthly profit of 9,700 jobs, reflecting the strong upward revision made nationally.

“We originally reported for August and September as fairly weak gains in the US in terms of employment changes,” Ryan Gedney, a senior labor economist at the department, said during a news briefing Friday morning.

Employment in the state, which is measured by a separate household survey, which includes the self-employed, rose by 11,900 last month, surpassing the 3,400 gain in the state’s labor force. The state’s seasonally adjusted unemployment rate fell from 5.6% in September to 5.4% in October as more unemployed workers found jobs.

Gedney said leisure and hospitality is the top sector recruitment in Colorado this year, accounting for about 64% of the jobs it received in 2021. Last month, of the 10,600 jobs added, 5,100 were in hotels and food service providers and 1,700 in arts, entertainment and entertainment establishments.

But recovery elsewhere is loose, with mining and logging, which includes oil and gas production, information and other services, a broad catchall category, recording monthly declines in October. Construction companies have lost 1,200 jobs in the last one year, despite projects yet to be completed.

The share of Coloradans participating in the labor force is 68.2%, the fourth highest rate in the country. Gedney said one reason the state’s unemployment rate ranks 31st among all states is because more Colorado residents are actively working or looking for work.

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Gedney said Colorado recovered about 87% of the private sector jobs it lost in March and April last year, well ahead of the 85% recovery seen nationally.

World Nation News Deskhttps://www.worldnationnews.com
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