State Labor Department Releases Analysis of Second Quarter 2014 Economic Data
Job growth trend continues with second quarter 2014 results.
(DENVER) – Today, the Colorado Department of Labor and Employment released an analysis of expected revisions to the monthly nonfarm payroll jobs estimates based on second quarter 2014 Quarterly Census of Employment and Wages (QCEW) results.
June 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 7,900 or three tenths of a percentage point. April and May 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 2nd quarter include construction, trade, transportation and utilities, and financial activities. Jobs in other services and information may also be revised up.
- The industry sectors expected to undergo a downward revision to payroll jobs estimates in the 2nd quarter are leisure and hospitality, government and professional and business services. Jobs in education and health services, manufacturing and mining and logging may also be revised down.
- The area expected to undergo the greatest upward revision to payroll jobs estimates in the 2nd quarter is the Denver Metropolitan Statistical Area. Estimates for Colorado Springs, Greeley, Grand Junction and Ft. Collins may also be revised up.
- Payroll jobs estimates for the Boulder 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 third quarter 2014 QCEW data will be released on Wednesday, February 25, 2015.
For Immediate Release
Date: November 26, 2014/ 8:00 AM
Contact: Bill Thoennes (303) 318-8004 or Cher Haavind (303) 318-8003
Office of Government, Policy and Public Relations