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SECOND QUARTER 1999 IN REVIEW
ALL INDUSTRIES

Employment change from last quarter+ 2.2
Employment change from year ago+ 3.9
Wage change from year ago+10.0

QUARTERLY

Colorado employment rose 2.2% over first quarter adding 44,786 employees. Employment in second quarter typically peaks due to warmer weather encouraging lawn and garden projects, construction projects, summer vacations and outdoor activities. In addition to seasonal factors, low unemployment, continued low interest rates, strong consumer confidence, increased personal income and a stable inflation rate through April and May bolster employment this quarter. Increases in interest rates, unemployment and inflation occurring in June did little to effect this quarter’s strong employment gain. Quarterly, Construction showed the largest increase adding 13,372 employees. Agriculture seasonally added 8471 employees generating the largest percent gain at 34.4%. Mining, impacted by closing corporate offices, was the only industry to decline dropping by 491 employees.

ANNUAL

Annual employment growth at 3.9% reflected continued strength in the Colorado economy generating 79,328 new jobs. The health of the national and state economy along with the popularity of Colorado as a place to visit, live and do business contribute to the state’s positive employment statistics. Colorado’s predominate Service industry, up 27,652 employees, produced more than one third of the total state growth. Construction added the second largest number of employees and had the highest percent increase up 11.8% with 15,510 employees. Retail Trade ranked third in employment numbers adding 14,397 over a year ago. Low commodity prices and corporate relocations caused Mining to decline dropping by 8.2% and 1160 employees. Manufacturing shows signs of weakness losing employment for its third consecutive quarter down 1.8% and 3795 employees.

% EMPLOYMENT CHANGE
 QuarterlyAnnual
AGRICULTURE+34.4+ 5.3
MINING- 3.6- 8.2
CONSTRUCTION+10.0+11.8
MANUFACTURING+ 0.1- 1.8
TCPU+ 0.7+ 9.5
WHOLESALE+ 1.4+ 0.6
RETAIL+ 1.4+ 3.8
FIRE+ 0.4+ 4.2
SERVICES+ 1.4+ 4.7
GOVERNMENT+ 2.1+ 2.4

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Colorado Employment and Wages (ES202) Second Quarter 1999