FINANCE, INSURANCE & REAL ESTATE

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(60 - 67)

Employment change from last quarter	+ 2.3
Employment change from year ago	+ 7.4
Wage change from year ago	+15.5

QUARTERLY

After years of slow activity employment in FIRE is quite strong having added the largest monthly gain since the beginning of the publication in 1986. Employment rose 2.3% over last quarter gaining 3059. All sectors added employment, however, the strongest increase was noted in Real Estate (65) up 941 employees. Many businesses, particularly those managing and appraising real estate, experienced small gains. Some of the gains were seasonal as many management companies staff for summer lawn and pool maintenance. Counties with ski areas reported strong gains due to their growing popularity as summer destinations. Increased wealth has created an explosion of mortgage bankers and brokers causing employment in Credit Agencies to gain 620. Insurance Carriers (63) grew by 570 employees. Expansions in Fire, Marine & Casualty Insurance offices and Title Insurance businesses generated the bulk of the increased employment. Expansions and questionable reporting covering about 100 employees contributed to the addition of 321 in Holding & Investments (67).
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ANNUAL

On an annual basis FIRE gained 9172 employees growing 7.4%. Insurance Carriers (63) reported the largest sector increase gaining 2716 employee. Components with sizable gains were Fire, Marine & Casualty Insurance up 929 due to expansions; Title Insurance up 710 due to accelerated new home sales and refinancing activity; and Accident & Health Insurance & Medical Service Plans up 419 due to service expansions. Low mortgage rates, strong personal income growth and a very healthy economy have contributed to the addition of 2606 in Credit Agencies (61) and 1581 in Real Estate (65). Growth in Credit Agencies was almost entirely devoted to increases in mortgage brokers and banking. Employment growth in Real Estate (65) was the result of expansions in appraisers, real estate managers and real estate agents. Increased personal and spendable income and liquidity combined with advances in the stock market have fueled the addition of 843 in Security & Commodity (62). Banking (60) added 720 employees over the year with about half coming from gains in check cashing businesses, clearing houses and electronic transfer activities.

Colorado Employment and Wages (ES202) Third Quarter 1998