State Labor Department Releases Analysis of Third 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 third quarter 2016 Quarterly Census of Employment and Wages (QCEW) results.
September 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 6,100, or two-tenths of a percentage point. July and August 2016 estimates are expected to be revised down by about four-tenths and five-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 3rd quarter include government, trade, transportation, and utilities, financial activities, other services, professional and business services, and education and health services.
- The industry sectors expected to undergo a downward revision to payroll jobs estimates in the 3rd quarter are construction, leisure and hospitality, and mining and logging. Jobs in information and manufacturing may also be revised down.
- The areas expected to undergo upward revisions to payroll jobs estimates in the 3rd quarter are the Colorado Springs and Fort Collins Metropolitan Statistical Areas.
- Payroll jobs estimates for the Denver, Greeley, Boulder, and Grand Junction Metropolitan Statistical Areas are expected to be revised down. Estimates for the Pueblo Metropolitan Statistical Area 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 2016 QCEW data will be released on Wednesday, May 24, 2017.