Employment in FIRE dipped mildly losing 167 employees down 0.1%. Sector activity, however, was mixed. Credit agencies (61) reported the largest quarterly loss dropping by 480 employees. Cutbacks in companies involved in mortgage banking and loan brokering generated all of the sector loss. Insurance Carriers (63) fell by 389. Cutbacks in companies involved in title insurance covered more than half of the loss. SIC changes affected the remainder of the losses moving a little over 100 each from Life Insurance and Fire, Marine & Casualty Insurance. Insurance Agents (64) declined by 287. Reporting changes instituted by an employer moved about 100 to Health Services (80). Layoffs by one company undergoing considerable downsizing subtracted another 50 from the sector. Security & Commodity (62) reported the largest employment increase gaining 498. Expansions by a number of security brokers, dealers and custodians along with SIC changes into investment advice fostered the gain. Real Estate (65) added 386 employees. Gains were seasonal resulting from service expansions during the ski season. Holding & Investments (67) added 53 employees with SIC changes moving 62 into the sector. Banking (60) grew by 54 with 74 from SIC changes.
ANNUAL
FIRE experienced a small annual gain of 922 employees up 0.7%. Sector activity was mixed with significant changes occurring in Security & Commodity (62) and Credit Agencies (61). Security & Commodity added 2447 employees. Hiring expansions in Security Brokers, Dealers & Flotation Companies added 1423 employees. Expansions by one large employer in Services Allied with the Exchange of Securities or Commodities contributed more than 600 to the subsector gain of 1034. Increased interest rates prompting a slowdown from the accelerated activity in the real estate market a year ago caused a loss of 2339 in Credit Agencies. Losses were almost exclusive to Mortgage Bankers and Brokers, which fell by 2305. However, the closure of two businesses in Personal Credit Institutions added to the loss dropping another 355. Insurance Carriers (63) fell by 1005 employees. Title insurance services declined by 743 due to a slowing in the real estate market and cutbacks in Accident & Health Insurance & Medical Service Plans subtracted another 448. The sector Banking (60) saw a gain of 984 composed of 726 from service expansions in Commercial Banks and 173 from Credit Union expansions.
1999 SIC CHANGES FIRE lost approximately 24 employees and gained $4,240 520 in quarterly payroll as a result of reclassification.
Colorado Employment and Wages (ES202) First Quarter 2000
