State Labor Department Releases Analysis of First Quarter 2016 Economic Data
(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 2016 Quarterly Census of Employment and Wages (QCEW) results.
March 2016 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 down by about 12,700 or five-tenths of a percentage point. January and February 2016 estimates are expected to be revised down by about two-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 an upward revision to payroll jobs estimates in the 1st quarter include trade, transportation and utilities and government. Jobs in financial activities, education and health services, and other services may also be revised up.
- The industry sectors expected to undergo a downward revision to payroll jobs estimates in the 1st quarter are leisure and hospitality, construction, mining and logging, and manufacturing. Jobs in information may also be revised down.
- The areas expected to undergo the greatest upward revisions to payroll jobs estimates in the 1st quarter are the Boulder and Colorado Springs Metropolitan Statistical Area. Estimates for the Fort Collins Metropolitan Statistical Areas may be revised up.
- Payroll jobs estimates for the Greeley and Denver Metropolitan Statistical Areas are expected to be revised down. Estimates for the Grand Junction 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 2016 QCEW data will be released on Wednesday, December 7, 2016.
For Immediate Release
Date: August 31, 2016/ 8:00 AM
Contact: Bill Thoennes (303) 318-8004 or Cher Haavind (303) 318-8003
Office of Government, Policy and Public Relations