Colorado's unemployment rate in January remained below the national rate

January unemployment rate in Maine was 3 percent
Colorado's unemployment rate in January remained below the national rate
Author

13 March, 2018

Unemployment rates in six states and the District of Columbia fell in January, with jobless rates stable in 44 states.

According to a report issued Monday by the state Department of Labor, the number of unemployed job-seekers in ME declined by 2,500 over the past year to 21,000.

The state's 63.7 percent labor force participation rate also remains above the national rate of 62.7 percent.

All Wiregrass counties have jobless rates that are at least 1.4 percent below what they were at this time a year ago.

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In January 2017, the state's unemployment rate was 5.2 percent. Alaska had the highest, at 7.3 percent.

Over-the-year, nonfarm payroll employment increased by 47,100 jobs with the largest gains in these industry sectors in January: Manufacturing (20,200); Leisure and Hospitality (13,900); and Education and Health Services (6,200). In other words new entrants into the workforce, or people who have just moved to Flagler County and haven't yet found work, are the reason the unemployment rate went up-not necessarily because of a softening of the economy.

The January job gains were balanced with a reduction in the categories of real estate, retail trade, government, and transportation, warehousing, and utilities. "When companies come here, that's the number one question they ask - do you have a labor force? and we're able to provide that labor force for them". But the numbers may not be as bad as they seem: the number of employed people stayed flat at 44,286, while the labor force increased by nearly the exact number as that of the unemployed: 272. "The state's employers are looking to hire the 51,000 job seekers".

"Based on headlines we've seen related to the recent federal tax reform, it will be interesting to watch how businesses' reaction to the tax cut translates into jobs numbers in the months ahead".


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