MANUFACTURING

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(20 - 39)

Employment change from last quarter	- 0.1
Employment change from year ago	+ 1.0
Wage change from year ago	+ 6.3

QUARTERLY

Employment in Manufacturing fell for the third consecutive quarter. Since last quarter employment is down 210 for a loss of –0.1%. Eleven of the 19 sectors reported employment losses. Electrical Machinery (36) suffered the largest loss dropping by 402 as cutbacks abounded in many firms engaged in the production of electronic components and accessories. Employment in Apparel (23) dropped by 208. Layoffs in two companies and the closure of one firm accounted for most of the decline in this sector. The third largest decline occurred in Transportation Equipment (37) down 195. Most of the loss was the result of backlash surrounding the General Motors strike causing one Colorado firm to cutback staff. Rubber-Misc Plastic (30) declined by 144 employees due to a closure and layoffs covering a number of firms in Misc Plastic Products. The largest gain over the quarter was seasonal occurring in Stone-Clay-Glass (32). The addition of 233 employees followed peak demand for concrete products and ready mixed cement. Printing-Publishing (27) gained 195. The strongest subsector activity occurred in greeting card production up 120. Layoffs as part of a merger dropped about 120 from commercial printing.


ANNUAL

Three consecutive quarters of employment losses have taken its toll on annual growth in the Manufacturing industry causing it to rise only 1% adding 2049. Manufacturing hasn’t seen gains this low since 1995. Some sectors are still showing increases such as Non Electrical Machinery (35), up 1152 employees, as production of computer and office equipment continues in demand. Employment in the Printing-Publishing (27) sector, up 978, is down slightly from previous quarters due in part to a layoff following a merger in commercial printing. Electrical Machinery (36) added 944 employees. Electronic Components & Accessories, which generates most of the growth within this sector, suffered layoffs over the last two quarters diminishing overall growth in Electrical Machinery. Food Products (20) reported an annual loss of 982 employees. The largest contributing sector losses were meatpacking and poultry processing down 312 due to layoffs and beverages down 284 due to January SIC changes. Yearlong closures and cutbacks in Misc Plastic Products caused Rubber-Misc Plastics to drop by 580.

Colorado Employment and Wages (ES202) Third Quarter 1998