WASHINGTON: Weld County’s unemployment rate fell to 3 percent in September, while the area’s job market remained rather stable, according to numbers released this morning from the state Department of Labor and Employment. While the state’s total monthly jobs declined by 300, Weld’s monthly jobs numbers grew by 900 in September, mostly in the government sector. Oil and gas, which has been a major concern in the last year, lost 100 jobs over the month in Weld. The Colorado Department of Labor and Employment releases the numbers monthly, but they are only a snapshot built off a survey of households to calculate the unemployment rate, and a survey of business establishments to calculate changes in jobs numbers. The numbers are updated and adjusted quarterly to reflect a more accurate picture.
Ryan Gedney, senior economist with the department, reported Friday that Colorado is tied with Washington as the sixth-fastest growing state in the nation. “It should not surprise you that Colorado continues to outpace the U.S. in the rate of job gains,” Gedney said. That is evidenced by the state’s initial unemployment insurance claims, which in September hit their lowest point in almost 10 years, Gedney said.
Oil and gas and mining claims, specifically, are down 35.8 percent from the same time last year, Gedney said. The state processed 128 initial, first-time claims for the sector in September, compared to 293 at the same time last year, he added. Though the numbers are combined for mining and oil and gas, the latter makes up 80 percent of the category, he said.
Continuing unemployment insurance claims for a specific reporting period in September were also encouraging, Gedney said. In the mining and oil and gas sector there were 745 continuing claims as of Sept. 19; last year at the same time, that number was 1,160. “This is the lowest level we’ve seen … since January 2015,” Gedney said. “It has fallen for seven consecutive months.” The state’s highest numbers of continuing insurance claims came in the construction industry, with 2,010; 2,104 in retail trade; 2,486 in administrative support.
The state unemployment rate decreased two-tenths of percentage point in September to 3.6 percent. The national unemployment rate increased one-tenth of a percentage point over the same period to 5.0 percent. In Weld, the unemployment rate, not adjusted for seasonal fluctuations, fell five-tenths of a percentage point to 3 percent from August. Last year at this time, the Weld unemployment rate was at 3.2 percent.
Overall, Weld’s jobs numbers changed little from August to September, with the exception of a 200-job loss in wholesale and retail trade, and a loss of 100 each in personal and business services and mining and construction. Those losses were absorbed by the 1,300 growth in the government sector. Statewide, the largest over-the-month private sector job gains were in construction and professional and business services. The largest over-the-month declines statewide were in manufacturing and financial activities. Over the year, the largest statewide private sector job gains were in construction, leisure and hospitality, and education and health services. Mining and logging declined over the year.
