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La Plata County unemployment down, again

Rate is falling more quickly than the state’s

La Plata County is far outpacing Colorado and the nation in lowering its unemployment rate, according to the latest data released from the state.

The county’s not-seasonally adjusted unemployment rate decreased five-tenths of a percentage point from 6.5 percent in February 2013 to 6 percent in March 2013. The state’s unemployment decreased from 7.2 percent in February 2013 to 7.1 percent in March 2013.

The nation’s unemployment rate decreased one-tenth of a percentage point to 7.6 percent during the same period.

Colorado’s decrease is attributed to people getting jobs at a faster rate than people are entering the working pool, state economist Alexandra Hall said during a media conference call Friday.

Nonfarm payroll jobs increased just 500 from February to Ma0rch, which could be a reflection of the sequestration cuts that took effect earlier this month.

“While this is not the strong growth we’re used to seeing from the last months, it’s a little early to be able to tell whether this is (because of sequestration),” Hall said. “It’s possible this is the national weakening of the economy taking hold in Colorado.”

Despite the relatively small job growth during the month, Colorado is the fourth-fastest-growing state in the nation for jobs and is one of five states with a growth rate more than 2 percent, Hall said. The other states are Utah, North Dakota, Texas and Idaho.

“The Rocky Mountain region and states close (to the region) seem to be leading the nation as far as payroll jobs growth,” she said.

Professional and business services, education and health services, and construction saw the largest growth during the month, while transportation and utilities, financial activities and manufacturing, and trade saw the largest declines.

Colorado is still in the middle of the pack for unemployment, Hall said, but 60 of the state’s 64 counties have seen an improving unemployment rate over February 2013 and last year.

jdahl@durangoherald.com



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