QUARTERLY Employment in the FIRE industry rose 0.7% and added 850 workers over first quarter. Security & Commodity (62) was the largest growing sector over the quarter adding 778 employees. Large employment expansions at two firms engaged in security brokering contributed to the gain of 457 in Security Brokers, Dealers & Flotation Companies. Continued hiring at one firm providing investment services was responsible for most of the 321 employee gain in Services Allied With The Exchange of Securities or Commodities. Real Estate (65) grew by 230 employees. Activity in this sector is seasonal but stronger than usual. Many businesses hired larger staff than last year to provide for the maintenance of building and grounds and recreation facilities. Banking employment rose by 185 with most gains in national commercial banks. Credit Agencies (61) lost employment over the quarter dropping by 265. Losses were strongest in Mortgage Bankers and Brokers. Insurance Carriers (63) lost 189 employees as many of the larger firms in Fire, Marine & Casualty Insurance converted agents to independent contractors. Title Insurance reported an employment spurt offsetting sector losses by adding 53. ANNUAL The FIRE industry reported a 0.9% employment increase over second quarter a year ago adding 1172 employees. Sector activity was mixed with 4 gaining employment over the year and three declining. The health of the economy and investment mediums was reflected in the addition of 2569 employees to Security & Commodity (62). Security Brokers, Dealers & Flotation Companies grew by 1548 employees. Services Allied with the Exchange of Securities or Commodities, which includes investment advisory services and mutual fund managers, added 1026 employees. The Real Estate (65) sector expanded by 1210 employees. Employment growth was strongest in Real Estate Agents & Managers up 939. The largest sector decline occurred in Credit Agencies (61) down 2135 employees due to yearlong staffing reductions in Mortgage Bankers & Brokers precipitated by rising interest rates. Insurance Carriers (63) fell by 1310 employees. Title Insurance employment dropped by 676. Layoffs in Hospital & Medical Service Plans caused a loss of 469. The current conversion of insurance agents to independent contractors generated most of the 323 employee decline in Fire, Marine & Casualty Insurance.
Colorado Employment and Wages (ES202) Second Quarter 2000
