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Monday, January 24, 2022

Colorado’s workforce remains high in November despite a slow start to the ski season.

According to the Colorado Department of Labor and Employment monthly update, US job growth slowed sharply in November.

“I was surprised to see the scale of employment growth in November, given the slower growth rates at the national level. The steady pace of job growth over the past three months is the most encouraging aspect of the Colorado report, ”Broomfield economist Gary Horvath said in an email.

The November gain is just below the revised 9,900 job gains added between September and October in Colorado. Nationally, employers added 546,000 non-farm jobs in October and only 210,000 in November, down 61.5%.

Colorado’s job growth last month overcame a monthly loss of 1,700 seasonally adjusted jobs in the leisure and hospitality sector, a sector that accounts for nearly half of the jobs added in the state this year, said Ryan Gedney, senior economist for affairs. Labor in the State Department of Labor. Part of this poor performance is likely the result of a slower-than-expected start to the ski season due to lack of snow.

Professional and business services were the strongest sector in the last month, adding 3,900 jobs, followed by education and health services, adding 2,000 jobs, mostly in health care. In finance, 1,800 jobs were created, while commerce, transportation and utilities, including retail outlets, generated 1,100 seasonally adjusted jobs.

The state unemployment rate fell from 5.4% in October to 5.1% in November, which ranks 33rd among all states and remains above the US unemployment rate of 4.2%.

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