Colorado unemployment rate drops to 7.9 percent

FOX31 Denver

DENVER — Colorado’s unemployment rate dropped from 8.0 percent to 7.9 percent last month, the Colorado Dept. of Labor and Employment announced Tuesday.

Non-farm payroll jobs increased 8,600 from September to October to 2,310,100 jobs, according to the survey of business establishments. Private sector payroll jobs increased 8,500 and government increased 100.

The decrease in the unemployment rate was caused by a larger increase in the number of people reporting their status as employed than the increase in those actively participating in the labor force.

The national unemployment rate increased one tenth of one percentage point over the same period to 7.9 percent.

Over the year, the average workweek for all employees on private non-farm payrolls decreased from 35.4 to 35.0 hours and average hourly earnings increased from $24.31 to $24.67.

The largest over the month private sector job gains were in professional and business services, education and health services…

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