Friday, December 7, 2012

Colorado's unemployment rate the same as national rate

Colorado now has essentially the same unemployment rate as the nation overall, and this has been the case for the past seven months.

The seasonally-adjusted unemployment rate for Colorado during October was 7.9 percent, and it was also 7.9 percent for the nation.

According to the most recent BLS press release on state unemployment:

Fourteen states reported statistically significant over-the-month unemployment rate decreases in
October. The largest of these occurred in South Carolina (-0.5 percentage point), followed by Alaska  and Wisconsin (-0.4 point each). The remaining 36 states and the District of Columbia recorded jobless  rates that were not measurably different from those of a month earlier, though some had changes that were at least as large numerically as the significant changes.
Colorado's seasonally-adjusted unemployment rate was down slightly in October, dropping year over year from 8.1 percent during October 2011 to 7.9 percent during October 2012. The Colorado rate fell from September to October this year, dropping from 8.0 to 7.9 percent.

The national unemployment rate fell by much more than it did in Colorado, falling from 8.9 percent to 7.9 percent from October 2011 to October 2012. The rate rose slightly from September to October, rising from 7.8 to 7.9 percent.

The graph shows a comparison between the two rates since 2006:

See here for metro area unemployment info in Colorado.