State Labor Department Releases Analysis of Fourth Quarter 2015 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 2015 Quarterly Census of Employment and Wages (QCEW) results.
December 2015 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 10,700 or four-tenths of a percentage point. October and November 2015 estimates are expected to be revised down by about two-tenths and one-tenth 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 4th quarter include professional and business services, trade, transportation and utilities, and government. Jobs in other 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, construction, manufacturing, financial activities, and mining and logging. Jobs in information and education and health services may also be revised down.
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 Boulder Metropolitan Statistical Area may be revised up.
Payroll jobs estimates for the Greeley and Colorado Springs Metropolitan Statistical Areas are expected to be revised down. Estimates for the Fort Collins, 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 first quarter 2016 QCEW data will be released on Wednesday, August 31, 2016.