State Labor Department Releases Analysis of First Quarter 2017 Economic Data
For Immediate Release
Date: August 23, 2017/ 8:00 AM
Contact: Bill Thoennes (303) 318-8004 or Cher Haavind (303) 318-8003
Office of Government, Policy and Public Relations
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 2017 Quarterly Census of Employment and Wages (QCEW) results.
March 2017 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 10,600, or four-tenths of a percentage point. January 2017 estimates are expected to be revised down by about 5,700, or two-tenths a percentage point. No changes are expected for the February 2017 estimates.
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 government, construction, and mining and logging. Jobs in manufacturing, and leisure and hospitality may also be revised up.
- The industry sectors expected to undergo a downward revision to payroll jobs estimates in the 1st quarter are other services, trade, transportation, and utilities, and professional and business services. Jobs in education and health services, financial activities, and information may also be revised down.
- The areas expected to undergo upward revisions to payroll jobs estimates in the 1st quarter are the Colorado Springs, Greeley, and Grand Junction Metropolitan Statistical Areas. Estimates for the Fort Collins Statistical Area may also be revised upward.
- Payroll jobs estimates for the Boulder Metropolitan Statistical Area are expected to be revised down. Estimates for the Denver Metropolitan Statistical Areas may also be revised down.
- No changes are expected for the Pueblo Metropolitan Statistical Area.
Expected Revisions to Colorado Nonfarm Payroll Jobs based on second quarter 2017 QCEW data will be released on Wednesday, November 29, 2017.
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