Since last quarter FIRE decreased 91 employees dropping 0.1%. Sector activity was mixed. Losses were greatest in Credit Agencies (61) down 351 employees. Diminishing business in Mortgage Bankers & Brokers (616) as a result of increased interest rates and sluggish home sales caused the drop. Insurance Carriers (63) which includes Title Insurance companies incurred the second largest drop losing 200 employees. Cutbacks also due to declining home sales caused decreases in this sector. Holding & Investments (67) dropped 160 employees. SIC changes out of the sector are responsible for the drop. Real Estate (65) generated employment growth increasing 325 employees due to seasonal staffing for ski lodging management.
ANNUAL
FIRE dropped 676 employees down 0.6% from last year. Credit Agencies (61) suffered the greatest loss down 1817 employees. Layoffs, closures and cutbacks in Mortgage Bankers & Brokers (616) are responsible for the decline. Insurance Carriers (63) lost 263 employees due to cutbacks mainly in Title Insurance (636). Decreases in Credit Agencies and Insurance Carriers were triggered by slowing home sales. Over the year expansions added 542 employees to Insurance Agents (64). Security & Commodity (62) added 391 employees. Most of the gain occurred because of SIC changes into the sector this quarter from Services.
1994 SIC CHANGES
FIRE gained approximately 160 employees and $2,206,110 in quarterly payroll due to reclassification.
Colorado Employment and Wages (ES202) First Quarter 1995
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