State Labor Department Releases Analysis of Second Quarter 2016 Economic Data
For immediate release
(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 2016 Quarterly Census of Employment and Wages (QCEW) results.
June 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 down by about 14,300 or five-tenths of a percentage point. April and May 2016 estimates are expected to be revised down by about one-tenth and six-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 an upward revision to payroll jobs estimates in the 2nd quarter include trade, transportation and utilities, financial activities, and education and health services.
- The industry sectors expected to undergo a downward revision to payroll jobs estimates in the 2nd quarter are construction, leisure and hospitality, professional and business services, mining and logging, and manufacturing. Jobs in government, other services, and information may also be revised down.
- Payroll jobs estimates for the Colorado Springs and Boulder Metropolitan Statistical Areas may be revised up in the 2nd quarter.
- The areas expected to undergo the greatest downward revisions to payroll jobs estimates in the 2nd quarter are the Denver, Greeley, and Fort Collins Metropolitan Statistical Areas. Estimates for the Pueblo and Grand Junction Metropolitan Statistical Areas may be revised down.
A complete overview of the expected revisions to Colorado nonfarm payroll jobs is available in the pdf document (see link below).
Expected Revisions to Colorado Nonfarm Payroll Jobs based on third quarter 2016 QCEW data will be released on Wednesday, February 22, 2017.