In terms of percentages and absolute numbers Retail Trade suffered the largest declining first quarter in the history of this publication. Employment dropped by 10,438 workers from last quarter. Although employment declines are typical this time of year following the end of Christmas, these losses are much larger than normal. General Merchandise (53) down 3710 employees reported the largest loss. Its drop, however, is normal. Misc Retail (59) dropped 3624 employees. Losses were well above the seasonal expected. SIC changes out of the sector for approximately 661 employees coupled with large seasonal increases in Misc Shopping Goods Stores (594) fourth quarter and subsequent layoffs accounted for much of the decline. Bldg Material-Garden (52) dropped 878 employees. Due to new business a year ago first quarter the seasonal drop typical for this sector was not apparent until this year. Losses in Auto Dealers-Service Stations (55), down 525, is due to the reclassifi-cation of approximately 600 to other SIC categories. Eating & Drinking (58) reported an increase of 1503 employees. Increases which typically occur in first quarter are lower than normal.
ANNUAL
The Retail industry added 10,515 employees over last year growing 3.0%. Eating & Drinking (58) surpassed all other sectors in growth adding 5310 employees. Gains are slightly lower than had been in the past due to slower quarterly growth. Auto Dealers-Service Stations (55) reported the second largest gain up 1367 employees. Increases occurred mainly in Motor Vehicle Dealers (551) due to over the year expansions in existing businesses. General Merchandise (53) and Food Stores (54) added 1063 and 1036 employees, respectively. Both sectors added new business establishments throughout the year and incurred expansions in existing businesses. Apparel & Accessories (56) was the only sector to decline. The closure of a large chain and cutbacks at a number of businesses accounted for the drop.
1995 SIC CHANGES
Due to reclassification Retail Trade lost approximately 2569 employees and $14,346,574 in quarterly payroll.
Colorado Employment and Wages (ES202) First Quarter 1996
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