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THIRD QUARTER 1999 IN REVIEW
ALL INDUSTRIES

Employment change from last quarter+ 1.3
Employment change from year ago+ 3.5
Wage change from year ago+10.7

QUARTERLY
Colorado employment rose 1.3% since second quarter 1999 adding 28,252. This quarter was typified by summer related activities such as vacationing, school closure, lawn maintenance and the peak-growing season. Colorado’s economy remains healthy, but like other parts of the country it has noticed a shortage of workers and increasing interest rates. On a quarterly basis, Services, most affected by tourism, added 660 employees, the largest gain in terms of numbers. Agriculture at the peak of its yearly cycle reported the largest percent gain increasing by 13.2%. Seasonal lawn & garden activities represented its greatest component. Government employment seasonally fell dropping by 9871 employees, the result mainly from school closures at the local government level. Mining continues to under perform in Colorado dropping 1.5% as commodity prices are low and corporations continue to close administrative offices.
ANNUAL
Annually Colorado’s employment growth was 3.5% adding 72,109 employees over third quarter a year ago. Numbers and percent of growth, however, has slowed from the 4%+ of 1997 and high 3% of 1998. The Colorado economy reflects one driven by Services as evidenced by the increase of 25,642 employees, more than one third of the total state growth. Construction added 13,723 employees the second largest expanding industry and the largest in terms of percent, increasing by 9.5%. Retail followed closely with 13,597 employees up 8.6%. Mining continues to be plagued by losses down 9.5% losing 1332 employees. Corporate restructuring and fewer drilling projects have taken its toll on this industry. Manufacturing suffered losses dropping 2865 employees. For four consecutive quarters this industry has experienced annual losses, the largest occurring in computer related production and transportation equipment.

PERCENT CHANGE
 QUARTERLYANNUALLY
AGRICULTURE+13.2+ 6.2
MINING- 1.5- 9.5
CONSTRUCTION+5.3+9.5
MANUFACTURING+ 0.2- 1.5
TCPU+ 1.9+ 8.6
WHOLESALE+ 0.9+ 0.6
RETAIL+ 2.5+ 3.5
FIRE+ 0.6+ 2.5
SERVICES+ 1.9+ 4.3
GOVERNMENT- 3.1+ 2.4




Colorado Employment and Wages (ES202) Third Quarter 1999