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SECOND QUARTER 1997 IN REVIEW
ALL INDUSTRIES

Employment change from last quarter + 2.4
Employment change from year ago+ 4.1
Wage change from year ago+ 8.7

Colorado=s economy in second quarter 1997 was characterized by sustained growth, low unemployment and low inflation. The impact of these positive factors can be witnessed by the addition of 45,621 employees over last quarter, the highest quarterly increase registered since 1987. Typically, second quarter is defined by improved weather, the beginning of the growing season, summer school break and the beginning of the tourist season. That translates into increased employment in Agriculture and Construction. Agriculture employment rose 37.4% over last quarter. It=s relatively small size, though, has it adding only 8058 employees. Construction reported the largest quartely employment gain adding 11,481. In terms of percent it increased 10.7%. Low interest rates and a healthy personal
income level have also impacted the Construction industry. Government employment is typified by declining school employment and increasing employment for summer recreation and maintenance activities. Over the quarter Government employment rose 1.8% adding 5415.

Annually, Colorado added 77,268 employees over second quarter a year ago for a gain of 4.1%. This gain is higher than those incurred during 1996. Services still carries the bulk of the annual growth up 29,925 employees due to continued demand for temporary help and computer support. Retail enjoyed the second largest employment gain up 11,041 workers. Based on percentage, FIRE had the largest increase up 7.4%. Recent expansions in the administration and provision of managed health care plans has caused this industry to expand.

 % EMPLOYMENT CHANGE
 QUARTERLYANNUAL
AGRICULTURE+37.4+ 6.7
MINING+ 1.7+ 0.1
CONSTRUCTION+10.7+ 7.1
MANUFACTURING+ 1.1+ 3.4
TCPU+ 0.7+ 1.9
WHOLESALE+ 1.5+ 4.8
RETAIL+ 1.4+ 3.0
FIRE+ 2.1+ 7.4
SERVICES+ 1.5+ 5.6
GOVERNMENT+ 1.8+ 1.6