Moffat County Economic Trends — Unemployment continues to rise
CRAIG — The unemployment rate for Moffat County rose to 5.2 percent in February, topping the highest rate reported in 2018.
A 4.8 percent rate was recorded in December, compared to a rate of 4.5 percent recorded one year ago.
The current rate translates to an estimated 396 people unemployed and a workforce of about 7,290.
Moffat County’s unemployment rate for February was higher than the state average of 3.7 percent, unchanged from statewide averages recorded in January. The national unemployment rate for February decreased two-tenths of a percent in February, ending at 3.8 percent, which was 1.4 percent lower than Moffat County.
Employers in Colorado added 700 non-farm payroll jobs from January to February, for a total of 2,749,600 jobs, according to a survey of business establishments by Colorado Department of Labor and Employment.
Private sector payroll jobs increased by 1,200, and government decreased by 500.
For the year, the number of Coloradans in the labor force increased by 84,400, total employment increased 56,900, and the number of unemployed increased 27,500, according to CDLE.
Across the state, the largest over-the-month, private-sector jobs gains were in professional and business services and financial activities. The largest over the month decline was in leisure and hospitality.
There were 146 jobs advertised online in Moffat County as of March 23, according to data from the CDLE.
The same data shows the five employers with the most advertised vacancies in Moffat County included Memorial Regional Health and Moffat County School District; each is seeking 21 employees.
Ace Hardware Corporation was seeking seven employees, and Pizza Hut and Wendy’s were each seeking six new employees.
Over the year and across Colorado, the average workweek for all employees on private non-farm payrolls decreased slightly from 33.3 to 33.1 hours, and hourly average earnings increased from $28.42 to $29.93 per hour.
Moffat County workers’ take-home pay increased slightly from prior months, averaging $23.78 per hour, $951 per week, and $49,452 per year through wages, continuing to trend below state averages.
The non-farm payroll job estimates are based on a survey of business establishments and government agencies and are intended to measure the number of jobs, not the number of people employed, according to CDLE.
Additionally, the unemployment rate, labor force, labor force participation, total employment, and number of unemployed are based on a survey of households. The total employment estimate derived from this survey is intended to measure the number of people employed.
Tri-State Generation & Transmission unveiled its new Responsible Energy Plan this week, which will transition the company’s power portfolio further into renewables to reduce electric rates for its members.