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Colorados overall unemployment rate dropped to 28 percent during August according to figures from the Colorado Department of Labor and Employment The drop was slight just two-tenths of 1 percentage point This helped push the jobless rate well below last August when 4 percent of the states work force was unemployed So far this year the jobless rate in the state has ranged from 27 percent to 31 percent Total employment in Colorado was up 57000 for the first eight months of 1999 compared to the same period a year ago The department noted the states two largest industries trade and services were responsible for creating 28300 of Colorados 36500 new jobs over the past year There were several developments in the Colorado labor force over the last year in a half Seasonally adjusted resident employment fell 5400 over the month to 2249100 But the number of jobholders was still up 64000 or 29 percent from last April Looking at the labor force movement at this time of year the estimated number of unemployed persons went up 1700 to 65100 during the month The number of unemployed however is still down from the level of 66800 one year ago This is a good indication of frictional unemployment individuals are choosing to change jobs while the job market continues to offer more opportunity to both skilled and unskilled employees Colorado firms added 4400 jobs over the month reaching 2190700 This was an increase of 36 percent or 76300 positions from April 1999 Two industry sectors lost jobs over the month Transportation and public utilities and finance insurance and real estate fell while all other major categories added jo bs Construction continues to show a dramatic growth adding 2400 workers during April pushing the annual increase to 18500 or 130 percent Although at least 1800 jobs were lost in the service sector pertaining to the ski industry services added 1600 positions during the month This sector is
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