CONSTRUCTION

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(15 - 17)

Employment change from last quarter	- 3.3
Employment change from year ago	+10.2
Wage change from year ago	+15.5

QUARTERLY

As anticipated, due to weather, Construction employment fell. Employment dropped by 4068 down 3.3%, the lowest first quarter seasonal decline since 1989, the first year of the publication. An unusually mild winter, low mortgage and interest rates and strong home sales and building have influenced employment levels. Special Trade (17) reported the largest quarterly loss down 1675 employees. Losses are seasonal, however the lowest experienced since 1989. Subsector activity reflected about half the normal drop in Plumbing, Heating & Air-Conditioning (171) down 210, and Concrete Work (177) down 626. Painting & Paper Hanging (172) experienced a larger than usual seasonal decline while Electrical Work (173) reported a gain of 224 over last quarter. Heavy Construction (16) lost 1478 employees about half of the decline occurring a year ago at this time. General Building (15) declined by 915 employees. Residential Building (152) reported the largest chunk of employment loss, down 753. Losses were cyclical but slightly more than at the same time last year, and more prevalent in the balance of state.


ANNUAL

Employment in the Construction industry is up 10.2% over a year ago adding 10,998. The decreased amount of seasonal losses occurring this quarter has exaggerated the amount of annual gain. Annual employment increases in Special Trade (17) jumped to 8004, up from the annual gain of 5484 reported last quarter. Subsectors reporting large annual gains and light quarterly seasonal losses are Plumbing, Heating & Air-Conditioning (171) up 1632 employees, Misc Special Trade Contractors (179) up 1475, Electrical Work (173) up 1458, and Concrete Work (177) up 1358. Masonry, Stonework, Tile Setting & Plastering (174) added 1100 employees over a year ago. General Building (15) added 1966 employees. Two thirds of the growth occurred in Nonresidential building up 1332 employees. Residential building added 578 employees. Low interest rates and a healthy economy that encourages spending and speculation have influenced both Special Trades and General Building. Heavy Construction (16) grew by 1028 employees. Highway and street paving and construction projects generated the larger share of the employment gain.

1997 SIC CHANGES

Construction added approximately 224 employees and $2,232,218 in quarterly payroll as a result of reclassification.

Colorado Employment and Wages (ES202) First Quarter 1998