RETAIL TRADE

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(52 - 59)

Employment change from last quarter	- 1.9
Employment change from year ago	+ 2.2
Wage change from year ago	+ 5.6

QUARTERLY

Retail employment fell 1.9% losing 7470 employees. Losses were seasonal as many were laid off following the end of the Christmas sales season. General Merchandise (53), which contains most department stores, incurred the largest loss dropping 4045 employees. Losses were typical and seasonal. Misc Retail (59) dropped by 1449 employees. Losses were also seasonal due to layoffs in specialty stores following the Christmas shopping frenzy. Employment in Building Materials-Garden (52) dropped by 796. SIC changes out of the sector for about 150, corporate office layoffs involving around 50 and seasonal cutbacks contributed to the decline. Apparel & Accessories (56) reported a drop of 727 employees. Losses usually run about 1000 but were less this year as no chain store closed its doors at the end of the Christmas season. Furniture Stores (57) declined by 618 employees. Seasonal losses were stronger than a year ago and more profound in Radio, Television and Consumer Electronics Stores. Eating & Drinking (58) was the only sector to increase over the quarter adding 525. Many employees were added in the restaurant industry particularly in the ski resort counties offsetting losses of almost 2000 in Metro Denver.


ANNUAL

Retail growth was 2.2% over a year ago having added 7973 employees. All but one of the eight sectors in the Retail industry gained employment. Misc Retail (59) reported the largest increase up 2307 employees. Within Misc Retail, Misc Shopping Goods showed the largest gain driven by expansions in sporting goods, bicycle, book and jewelry stores. Employment in Eating & Drinking (58) rose by 2075 with 85% of the growth occurring in the Balance of State. Food Stores (54) gained 1181 employees. Growth was split between Grocery Stores and Misc Food Stores which contain health and vitamin stores and coffee stores. Four new grocery stores owned by two large grocery retailers opened during the year and another large retailer expanded its stores contributing to the growth in Grocery Stores. Within Misc Food Stores one large health store opened, several vitamin chains expanded and coffee shops grew. Auto Dealers-Service Stations (55) added 756 with growth shared by new motor vehicle dealers and gasoline service stations. Building Materials-Garden (52) was the only sector to slip during the year, dropping 112 employees. All five subsectors registered a small loss, although SIC changes for about 150 occurred in home building stores.

1997 SIC CHANGES

Due to reclassification Retail Trade lost approximately 173 employees and $2,038,681 in quarterly payroll.

Colorado Employment and Wages (ES202) First Quarter 1998