[] [] []

SECOND QUARTER 1998 IN REVIEW
ALL INDUSTRIES

Employment change from last quarter+ 2.1
Employment change from year ago+ 3.9
Wage change from year ago+12.1

Colorado employment rose 2.1% over first quarter adding 41,157 employees. Second quarter gains are typically the strongest of the year due to staffing up for summer growing, maintenance, construction and tourism. The Colorado economy remained healthy with low unemployment, low inflation and few effects from the Asian banking crisis and General Motors strike. Construction was the strongest growing industry in terms of employment adding 12,819. A few of the large construction projects taking place at this time are Ocean’s Journey, the new aquarium, The Pepsi Center, the Interlocken Omni Hotel and a northern portion of E470. Agriculture had the second largest employment increase and the largest percent gain over last quarter. Manufacturing was the only industry to lose employment dropping by 52.


For the first time in history Colorado employment topped the two million mark at 2,020,722. Annually, Colorado added 76,623 employees for a 3.9% gain. Services, which constitutes about 30% of the Colorado industry employment, generated one third of the employment gain adding 25,579. Continued growing demand for computer consultants and temporary help contributed to the high volume increase in Services employment. In absolute numbers Construction posted the second largest gain up 12,336 employees. By percent, Construction reported the largest jump at 10.4% over a year ago. Low interest and mortgage rates and strong population increases have benefited this industry. Mining reported the smallest annual gain of any industry up 129 employees. Increased demand for cement materials, coal production and small oil & gas projects have kept this industry from its history of decline.

PERCENT EMPLOYMENT CHANGE
 QUARTERLYANNUAL
AGRICULTURE+38.2+ 6.2
MINING+ 0.9+ 2.9
CONSTRUCTION+10.8+10.4
MANUFACTURING+ 0.0+ 2.9
TCPU+ 0.9+ 4.9
WHOLESALE+ 1.9+ 2.7
RETAIL+ 1.2+ 2.0
FIRE+ 2.1+ 6.9
SERVICES+ 0.6+ 4.6
GOVERNMENT+ 1.9+ 2.0

Colorado Employment and Wages (ES202) Second Quarter 1998