Friday, February 1, 2013

Colorado unemployment rate heads back below national rate

Colorado's unemployment rate widened the gap between the national unemployment rate and the state employment rate during December, falling to 7.6 percent while the national unemployment rate remained at 7.8 percent. The difference is rather small, although this is now the second month in a row that the Colorado unemployment rate has dipped ever-so-slightly below the national rate.

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

Nevada and Rhode Island recorded the highest unemployment rates among the states in December, 10.2  percent each. North Dakota again registered the lowest jobless rate, 3.2 percent. In total, 25 states  reported jobless rates significantly lower than the U.S. figure of 7.8 percent, 8 states had measurably  higher rates, and 17 states and the District of Columbia had rates that were not appreciably different  from that of the nation.
Colorado's seasonally-adjusted unemployment rate was down slightly in December, dropping year over year from 7.9 percent during December 2011 to 7.6 percent during December 2012. The Colorado rate fell from November to December this year, dropping very slightly from 7.7 to 7.6 percent.

The national unemployment rate fell by much more than it did in Colorado, falling from 8.5 percent to 7.8 percent from December 2011 to December 2012. The rate was flat at 7.8 percent from November to December.

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