Manufacturing employment took a big plunge this quarter due to SIC changes. The industry lost 6681 employees dropping 3.4% since last quarter. Approximately 6000 were reclassified from Chemicals (28) to TCPU as the main focus of a large employer shifted from manufacturing to reclamation. Overall, Chemicals (28) lost 6175 employees. Food Products (20) incurred the second largest decrease. Employment dropped 1040 with losses in every subsector. Losses occurred for many reasons: closures, SIC changes, seasonal layoffs and adjustment due to misreporting. Closures affected two plants one in Meat Products (201 ) and the other in Misc Food Preparations (209). SIC changes account for the loss of about 145 employees in Dairy Products (202) reclassified to Wholesale. Over reporting in fourth quarter of about 45 employees in Bakery Products (205) and 120 in Beverages (208) contributed to subsector losses. Transportation Equipment (37) experienced the largest employment increase, up 982. Approximately 600 of the increase was due to SIC changes. Furniture (25) added 503 employees. About 235 of the increase was a SIC change from Retail.
ANNUAL
Manufacturing employment rose 1.4% adding 2621 employees. Electrical Machinery (36) had the largest employment gain, up 1916, due mainly to yearlong growth in Electronic Components & Accessories (367). Transportation Equipment (37) added 1218 employees. Guided Missiles & Space Vehicles & Parts (376) was the largest growing subsector due to expansions and the addition of about 475 from SIC changes. Non-Electrical Machinery (35) added 1049 employees. About half were from over the year growth in Computer & Office Equipment (357). Chemicals (28) registered a drop of 6613 employees. SIC changes for 6000 employees to TCPU and 200 to Services created the break in this sector.
1994 SIC CHANGES
Manufacturing lost approximately 5974 employees and $76,393,120 in quarterly payroll due to reclassification.
Colorado Employment and Wages (ES202) First Quarter 1995
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