QCEW Press Release for First Quarter 2014

For Immediate Release


Date:  August 27, 2014/ 8:00 A.M.
Contact:  Office of Government and Public Relations
Phone:  Bill Thoennes at (303) 318-8004 or Cher Haavind at (303) 318-8003
Fax: (303) 318-8070
Web: http://www.colmigateway.com


STATE LABOR DEPARTMENT RELEASES ANALYSIS OF
FIRST QUARTER 2014 ECONOMIC DATA

Job growth trend continues with first quarter 2014 results

 

(DENVER) – Today, the Colorado Department of Labor and Employment released an analysis of expected revisions to the monthly nonfarm payroll jobs estimates based on first quarter 2014 Quarterly Census of Employment and Wages (QCEW) results.
 
March 2014 total nonfarm payroll jobs estimates, produced by the Bureau of Labor Statistics and the Colorado Department of Labor and Employment, are expected to be revised up by about 4,000 or two tenths of a percentage point. January and February 2014 estimates are expected to be revised up by about four tenths and three tenths of a percentage point, respectively.
 
This analysis is based on employer reports filed with the Department of Labor and Employment, which include a count of workers at each business establishment in Colorado and are available through the QCEW program.
 
Other key findings of the analysis include: 
  • Industry sectors expected to undergo the greatest upward revisions to payroll jobs estimates in the 1st quarter include construction, trade, transportation and utilities, and financial activities. Jobs in education and health services and mining and logging may also be revised up.
  • The industry sectors expected to undergo a downward revision to payroll jobs estimates in the 1st quarter are professional and business services, leisure and hospitality, and government. Jobs in manufacturing and other services may also be revised down.
  • The area expected to undergo the greatest upward revision to payroll jobs estimates in the 1st quarter is the Denver Metropolitan Statistical Area. Estimates for Colorado Springs, Greeley, and Grand Junction may also be revised up.
  • Payroll jobs estimates for the Boulder, Ft. Collins and Pueblo Metropolitan Statistical Areas may be revised down.
  • A complete overview of the expected revisions to Colorado nonfarm payroll jobs is available in the attached pdf document.
  • Expected Revisions to Colorado Nonfarm Payroll Jobs based on second quarter 2014 QCEW data will be released on Wednesday, November 26, 2014.
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