Unemployment rate in Weld County drops to 2.4 percent in March | MyWindsorNow.com

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Unemployment rate in Weld County drops to 2.4 percent in March

Statewide Unemployment Rates, March 2017

Boulder — 2.0

Colorado Springs — 2.8

Denver-Aurora-Lakewood — 2.4

Fort Collins — 2.1

Grand Junction — 3.8

Greeley — 2.4

Pueblo — 3.7

Source: Colorado Department of Employment and Labor

Weld County's unemployment rate just keeps getting lower.

The unemployment rate dropped yet again in March, sinking to 2.4 percent, according to numbers released Friday by the Colorado Department of Labor and Employment.

March's rate was nearly two percentage points lower than in March 2016, when it was 4.1 percent. In February of this year, the rate was 3.3 percent.

The department released its monthly report of results of a survey of households and businesses, which offers preliminary numbers on job growth and unemployment. The numbers are not adjusted for seasonal variations.

Weld's unemployment rate sits right below the statewide rate, which, according to the survey of households, decreased three-tenths of a percentage point in March to 2.6 percent. That's the lowest unemployment rate for Colorado since the the state began measuring it in 1976, according to a news release.

Across the state, total nonfarm payroll jobs did not change from February to March for a total of 2,634,400 jobs, according to the survey of business establishments. Private sector payroll jobs increased 100 and government decreased 100.

The number of people actively participating in the labor force increased 10,500 over the month to 2,933,300 and the number of people reporting themselves as employed increased 19,500 to 2,857,600. That caused the number of those unemployed in the state to decrease 9,000.

Over the year, the average workweek for all employees on private nonfarm payrolls decreased from 33.3 to 32.8 hours and average hourly earnings increased from $27.31 to $27.35.

From February to March, the largest private sector job gains were in leisure and hospitality, financial activities and education and health services. The largest over the month declines were in construction and professional and business services.

Over the year, the largest private sector job gains were in education and health services, professional and business services, and trade, transportation and utilities. Mining and logging, manufacturing,and information declined over the year.

The national unemployment rate declined to 4.5 percent in March 2017 from 5.0 percent the same time this past year.