State Labor Department Releases Analysis of Third 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 third quarter 2015 Quarterly Census of Employment and Wages (QCEW) results.
September 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 up by about 30,300 or one and two-tenths of a percentage point. July and August 2015 estimates are expected to be revised up by about one percentage point and nine-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 3rd quarter include professional and business services, trade, transportation and utilities, government, information, financial activities, and other services. Jobs in manufacturing 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 3rd quarter are mining and logging, construction, and leisure and hospitality.
- The area expected to undergo the greatest upward revision to payroll jobs estimates in the 3rd quarter are the Denver, Colorado Springs, and Fort Collins Metropolitan Statistical Areas. Estimates for the Boulder Metropolitan Statistical Area may be revised up.
- Payroll jobs estimates for the Greeley Metropolitan Statistical Area is expected to be revised down. Estimates for the 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 fourth quarter 2015 QCEW data will be released on Wednesday, June 1, 2016.
For Immediate Release
Date: February 24, 2016/ 8:00 AM
Contact: Bill Thoennes (303) 318-8004 or Cher Haavind (303) 318-8003
Office of Government, Policy and Public Relations