Retail Trade declined 1.5% since last quarter losing 5270 employees. Losses, though slightly heavier than preceding years, are typical following the end of the Christmas holidays. General Merchandise (53) reflected the largest loss dropping 4453 employees. Seasonal decreases as well as the closing of a number of stores by a major chain subtracted 1055 employees from Apparel & Accessories (56). Food Stores (54), down 899 employees, reflected SIC changes for about 160 to Wholesale and 140 to Auto Dlrs-Service Stations (55). Overall, Food Stores lost about 277 to SIC changes counting changes into as well as out of the sector. Furniture Stores (57) which contains music, computer and electronic appliance stores dropped 747 employees. Cutbacks following the end of the Christmas buying season as well as a large SIC change to Manufacturing covering about 230 were responsible for the decline. Growth in Eating & Drinking (58) establishments continued adding 2579 employees.
ANNUAL
Retail trade reflects one of the largest growing industries in Colorado over the last year. Employment has grown 24,376 for a gain of 7.5%. The largest growing segment of Retail Trade is Eating & Drinking up 8896 employees. Restaurants have mushroomed all around the state. The opening of a myriad of chain stores during the year in General Merchandise (53), Furniture Stores (57), and Misc Retail (59) contributed to their annual growth. Respectively, increases were 4778, 1652, and 3782 new employees.
1994 SIC CHANGES
Retail Trade lost approximately 23 employees and $795,733 in quarterly payroll due to reclassification.
Colorado Employment and Wages (ES202) First Quarter 1995
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