State Labor Department Releases Analysis of Fourth Quarter 2014 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 fourth quarter 2014 Quarterly Census of Employment and Wages (QCEW) results.

December 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 16,300 or seven tenths of a percentage point. October and November 2014 estimates are expected to be revised up by about five tenths and four 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 4th quarter include government, trade, transportation and utilities, professional and business services and other services. Jobs in mining and logging, information, financial activities and education and health services may also be revised up.

  • The industry sectors expected to undergo a downward revision to payroll jobs estimates in the 4th quarter are leisure and hospitality and construction.

  • The area expected to undergo the greatest upward revision to payroll jobs estimates in the 4th quarter is the Denver Metropolitan Statistical Area. Estimates for Colorado Springs and Ft. Collins are also expected to be revised up. Estimates for Boulder and Grand Junction may be revised up.

  • Payroll jobs estimates for the Greeley 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 first quarter 2015 QCEW data will be released on Wednesday, August 26, 2015.

 

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For Immediate Release
Date: May 27, 2015/ 8:00 AM
Contact: Bill Thoennes (303) 318-8004 or Cher Haavind (303) 318-8003
Office of Government, Policy and Public Relations
Websites: 
www.coworkforce.com

Colorado Department of Labor and Employment 
633 Seventeenth Street, Suite 1200 
Denver, CO 80202