The FIRE industry reported a gain of 0.7% and the addition of 990 employees over second quarter. Of the seven sectors comprising the FIRE industry four suffered losses this quarter and one incurred most of the quarterly gain. Real Estate (65) gained 973 employees, the result of seasonal hiring for property maintenance and pool operation. The lure of the stock market and demand for investment advice in our upbeat economy contributed momentum for the addition of 377 in Security & Commodity (62). Employment in Banking (60) rose by 134. Gains occurred in Commercial Banks. Credit Agencies (61) sustained the largest quarterly loss dropping by 248 employees. Cutbacks in the category of mortgage bankers and brokers caused the decline. Holding & Investments (67) fell by 182 employees due to cut backs and some streamlining due to acquisitions in Holding Offices. Some small gains in Patent Owners & Lessors and Investors Not Elsewhere Classified offset losses. Investors Not Elsewhere Classified includes venture capital companies and investment speculators for their own account. Insurance Agents (64) lost 40 employees and Insurance Carriers (63) lost 24. Conversion of some employees to independent contractors affected totals.
ANNUAL
Annually, growth in the FIRE industry was reported as 0.7% having added 1330 employees. Four sectors declined and three gained employment over the year. Security & Commodity (62) experienced the largest employment gain rising by 2312. Security Brokers, Dealers & Flotation Companies grew by 1346 employees. Services Allied with the Exchange of Securities or Commodities, which includes investment advisory services and mutual fund managers, added 973 employees. Real Estate (65) was the second fastest growing sector up 1328 employees. Real Estate Agents & Managers, the largest component of the sector, rose by 937 employees. Banking (60) was the only other sector to register an annual gain, rising by 542 employees, with most of the increase found in commercial banking. The largest employment loss occurred in Credit Agencies (61) down 1678 due to cutbacks in Mortgage Bankers & Brokers. SIC changes and expansions in Personal Credit Institutions up 306 offset sector losses. Insurance Carriers (63) fell by 957 employees. Layoffs in Title Insurance; Fire, Marine & Casualty Insurance; and Accident & Health Insurance & Medical Service Plans contributed to the decline.
Colorado Employment and Wages (ES202) Third Quarter 2000
