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THIRD QUARTER 1997 IN REVIEW
ALL INDUSTRIES

Employment change from last quarter+1.7
Employment change from year ago+4.4
Wage change from year ago+10.6

Despite the thinking that an economic slowing will occur at some point, this quarter did not reflect any slowing. Total Colorado employment at 1,976,769 was the highest level ever recorded and represents a gain of 1.7% over last quarter. This increase added 32,670 employees to the roll of the working. In addition to positive economic conditions such as low interest rates and a strong job market, factors affecting this quarter were mild weather, summer school break, the height of the growing season and summer tourism. Typically, Agriculture, Mining and Construction rise in the third quarter as all three industries rely on good weather for peak productivity. Some portions of Government seasonally add employees to cover summer recreation programs and maintenance, but, overall Government employment drops due to school closures. Services reported the largest quarterly employment gain up 14,972 and Agriculture up 12.4% reported the largest percent of increase covering about 3700 employees. Mining had the smallest gain adding only 521 employees. This small gain, however, is a vast improvement over past Mining performance.

Annually, Colorado added 82,516 employees for a gain of 4.4% reflecting employment growth levels of late 1994. A healthy economy in tandem with a healthy job market has markedly affected consumer confidence and impacted employment growth in all industries. Services and Retail Trade reflect the most active increases in relative numbers. Services added 33,176 employees and Retail Trade grew by 9547. Finance, Insurance & Real Estate (FIRE) generated a lot of activity over the year growing by 7.7%, the largest percent gain.


 % EMPLOYMENT CHANGE
 QUARTERLYANNUAL
AGRICULTURE+12.4+4.0
MINING+3.8+4.4
CONSTRUCTION+6.3+7.2
MANUFACTURING+1.8+4.2
TCPU+0.8+2.1
WHOLESALE+1.5+4.5
RETAIL+2.3+2.6
FIRE+1.9+7.7
SERVICES+2.7+6.1
GOVERNMENT-3.6+1.9


Colorado Employment and Wages (ES202) Third Quarter 1997