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THIRD QUARTER 1998 IN REVIEW
ALL INDUSTRIES

Employment change from last quarter+ 1.8
Employment change from year ago+ 4.0
Wage change from year ago+ 9.8

QUARTERLY

Employment in Colorado grew 1.8% since the previous quarter adding 35,752 employees. Data this quarter were affected by the summer growing season, tourism, school vacations, road repair and building activities. The Colorado economy remained healthy with low inflation, low unemployment and continued employment growth, though somewhat slower than in 1997. Over the quarter Services added the greatest number of employees up 13,670, with half of the gain from contract services and other increases from summer tourist related business. Retail had the second largest quarterly gain due to seasonal staffing and new store openings. Losses hampered the Mining and Manufacturing industries and Government. Government losses were seasonal due to school closings for the summer but losses in Mining and Manufacturing were influenced by low commodity prices and dwindling product demand.

ANNUAL

On an annual basis Colorado employment rose 4.0% adding 79,408 employees. The largest employing industry, Services, generated 30% of the new growth in the state adding 24,261. The outsourcing of computer programming support, temporary help and telemarketing has sustained the growth in this industry. Construction increased 11.6% and added 14,661 employees. This was the greatest percent gain over a year ago. Low interest and mortgage rates have contributed towards the hiring strength in this industry, but a large natural gas pipeline project undertaken this quarter on the west slope added about 800 to the numbers. After five quarters of annual gain, Mining fell back into its pattern of losses dropping by 142 employees. It was the only industry to register an annual loss. Corporate office cutbacks in the wake of declining commodity prices impacted this industry.


% EMPLOYMENT CHANGE
 QUARTERLYANNUAL
AGRICULTURE+12.3+ 6.1
MINING- 0.1- 1.0
CONSTRUCTION+7.5+11.6
MANUFACTURING- 0.1+ 1.0
TCPU+ 2.7+ 6.9
WHOLESALE+ 1.0+ 2.1
RETAIL+ 2.8+ 2.5
FIRE+ 2.4+ 7.4
SERVICES+ 2.3+ 4.2
GOVERNMENT- 3.1+ 2.5


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Colorado Employment and Wages (ES202) Third Quarter 1998