The Colorado Department of Labor and employment released their December Jobs Report for the state. Here are the highlights—
- Employers added 5,100 jobs in December.
- For the year employers added 53,200 jobs with 52,400 of those jobs in the private sector.
- This was an increase of 2% and the national average is 1.4%. This was the 7th consecutive year that our job growth rate was higher than the national average!
- The largest gains for the year were seen in professional and business services, leisure and hospitality, and construction.
- The construction industry has added 10,000 new jobs in the last 4 months.
- Our state’s unemployment rate ended at 3.1%. It ended 2016 at 3.0% and bottomed out at a record low of 2.3% we saw from June thru August. I am glad to see the unemployment rate back over 3%.
- Laborforce participation increased by 141,700 people last year, which is great to see.
- The average work week in 2017 increased by 0.1 hours to 33.2 hours and average hourly earnings increased by 4.3% to $28.09 per hour.