Colorado unemployment rises to 8.1%; 2,000 jobs gained

Colorado's unemployment rate rose to 8.1 percent in May, up two-tenths of a percentage point in April, despite a different measure of employment showing an increase of 2,000 payroll jobs in the state, the Colorado Department of Labor and Employment? ? Colorado Department of Labor and Employment Latest from The Business Journals Colorado wants improperly paid jobless benefits returnedMetro Denver unemployment rate at 7.9% in AprilColorado unemployment edges up to 7.9%; smallest job gain of year in April Follow this company reported Friday.

The state's private sector added a net 2,300 non-farm payroll jobs over the month, while government shed 300 civilian positions, based on a survey of employers, CDLE reported.

The payroll job gain of 2,000 in May, seasonally adjusted, was smaller than monthly gains earlier in the year. Colorado added 18,900 payroll jobs in January, followed by 3,700 in February and 2,700 in March, CDLE data show.

"We are seeing over the past few months a pattern of slowing improvement in the job market," said Alexandra Hall, CDLE's chief economist.

In May, the largest payroll job gains from the previous month were in financial activity as well as leisure and hospitality. The biggest declines over the month were in the category of trade, transportation and utilities as well as professional and business services.

Over the year ending in May, Colorado has gained 40,800 non-farm payroll jobs, with private business gaining 41,200 positions and public-sector jobs declining by 400, CDLE said.

Hall noted that Colorado through May has regained about 82,500 of the estimated 151,600 jobs it lost through the Great Recession, a slightly better recovery rate than the nation as a whole. "Colorado still has outperformed the nation just a bit with the job recovery," she said.

A separate survey of households showed unemployment rising in Colorado to 8.1 percent from April's 7.9 percent.

"In large part, that increase in the unemployment rate was due to more people coming into the labor force than we saw jobs created during the month," Hall said.

Mark Harden is print and digital content editor for the Denver Business Journal and writes for the "Broadway & 17th" blog. Email: mharden@bizjournals.com.

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