Colorado’s unemployment ticks up in June ticks while national rate declines

Colorado’s unemployment rate was 10.5% in June, up three-tenths of a percentage point, the state Department of Labor and Employment said Friday. During the same period, the national rate declined 2.2 percent points to 11.1%.

As the number of coronavirus cases rise in Colorado, prompting pauses on rolling back restrictions, people getting unemployment benefits face the end of a $600 weekly supplement. The extra assistance was approved by Congress as part of the Coronavirus Aid, Relief, and Economic Security Act. It is set to expire the week ending July 25 unless Congress extends it.

For the week ending July 11, initial jobless claims were filed by 15,926 people in Colorado, up from 13,754 new claims in the previous week.

The number of people with jobs in Colorado increased by 80,100 in June to 2.83 million, or 61.4% of the state’s 16 and older population.The state’s employment-to-population ratio has improved since April, when it was 58.3%, but it’s still below the February level of 67.7%.

Since May, Colorado has gained back 126,000 of the 342,300 non-farm jobs lost between February and April for a recovery rate of 36.8%, the labor department said. That exceeds the U.S. rate of 33.8%.

The Colorado counties with the highest unemployment rates in June: Gilpin,19.7%; San Miguel, 17.1%; Summit ,16.6%; Pitkin, 16.0%; and Eagle, 15.7%. County-level unemployment rates are not seasonally adjusted and are directly comparable to Colorado’s June unadjusted rate of 10.7%.

The leisure and hospitality sector added 40,600 jobs in June and the trade, transportation and utilities sector showed a gain of 8,300 jobs.


Source: Read Full Article