Little change expected for Department of Labor fourth quarter economic results
May 24, 2017
Colorado job numbers
The Colorado Department of Labor and Employment reported little revision concerning the state’s job growth for the fourth quarter of 2016. Statewide, industry sectors that are expected to undergo an upward revision to nonfarm payroll jobs estimates in the fourth quarter are:
» Government by 5,500.
» Construction by 1,300.
» Financial activities by 1,100.
Payroll jobs estimates for mining and logging, manufacturing, leisure and hospitality and information may also be revised up, according to the release.
The Colorado Department of Labor and Employment will take about 600 jobs off of Weld County's job growth in the fourth quarter of 2016, indicating a little change to total nonfarm payroll jobs, according to a news release issued Wednesday.
According to fourth quarter 2016 Quarterly Census of Employment and Wages results, December 2016 total nonfarm payroll jobs estimates, produced by the Bureau of Labor Statistics and the Colorado Department of Labor and Employment, across the state are expected to be revised up by about 2,100 jobs, or one-tenth of a percentage point. The release said October 2016 estimates are expected to be revised down by about 8,100 jobs, or three-tenths a percentage point, and 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.
Weld County's overall jobs numbers are expected to be revised to 99,400 in October of last year, which is the number of jobs that were originally reported. In November, the number was revised to 100,000 jobs, up from the expected 99,800, and in December, Weld's number of jobs was revised down to 99,600 from 100,400.
Weld, also known as the Greeley Metropolitan Statistical Area, had the second largest downward adjustment in the state at .8 percent in the fourth quarter, with Fort Collins with the largest downward adjustment at 1.3 percent.
Industry sectors expected to undergo an upward revision to payroll jobs include government, construction and financial activities. Jobs in mining and logging, manufacturing, leisure and hospitality and information may also be revised up, according to the news release.
The industry sectors expected to undergo a downward revision to payroll jobs estimates are professional and business services, other services, trade, transportation, and utilities, and education and health services.
Jobs in Boulder statistical area is the only one to be revised up, the release said, while job estimates for the Colorado Springs, Denver, Fort Collins, Pueblo and Grand Junction Metropolitan Statistical Areas will join Greeley in being revised down slightly.