State Labor Department Releases Analysis of Fourth Quarter 2016 Economic Data
For Immediate Release
Date: May 24, 2017/ 8:00 AM
Contact: Bill Thoennes (303) 318-8004 or Cher Haavind (303) 318-8003
Office of Government, Policy and Public Relations
(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 2016 Quarterly Census of Employment and Wages (QCEW) results.
December 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 up by about 2,100, or one-tenth of a percentage point. October 2016 estimates are expected to be revised down by about 8,100, or three-tenths a percentage point. No changes are expected for the November 2016 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 4th quarter include government, construction, and financial activities. Jobs in mining and logging, manufacturing, leisure and hospitality, and information may also be revised up.
- The industry sectors expected to undergo a downward revision to payroll jobs estimates in the 4th quarter are professional and business services, other services, trade, transportation, and utilities, and education and health services.
- Payroll jobs estimates for the Boulder Metropolitan Statistical Area are expected to be revised up in the 4th quarter.
- Payroll jobs estimates for the Fort Collins Metropolitan Statistical Area are expected to be revised down. Estimates for the Colorado Springs, Denver, Grand Junction, Greeley, and Pueblo Metropolitan Statistical Areas may also 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 2017 QCEW data will be released on Wednesday, August 23, 2017.