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FOURTH QUARTER 1999 IN REVIEW
ALL INDUSTRIES

Employment change from last quarter+ 0.4
Employment change from year ago+ 3.4
Wage change from year ago+11.5

Colorado experienced an unusually slow fourth quarter adding only 8743 employees during the quarter for a gain of 0.4%. Employment this quarter was effected by the end of the growing season, the return to school from summer break, and the opening of the ski season. The economy remains healthy though increasing interest rates are being noticed and hiring shortages prevail. Slipping into slow season, Agriculture reported the largest loss in terms of both employment and rate dropping 19.2% and 7186 employees. The largest quarterly gain occurred in Government up 3.3% and 10,035 employees due to school resumption. Though not the largest loss over the quarter, Services employment fell by 282 the result of a slow start to the ski season precipitated by a shortage of snow. Contrary to quarterly changes over the past year and a half Mining experienced its first employment gain with the addition of 37 employees.

Annually Colorado’s employment growth was 3.4% adding 71,127 employees over fourth quarter a year ago. Increases in employment in the Services industry continues to pre-dominate, generating more than one third of the state’s entire growth. Services gained 25,899 employees annually. On a percent basis Construction had the largest increase up 9.5%. It ranked second in growth by numbers with 13,150 new employees. Many projects put in place with low interest rates tied down prior to recent increases and the wealthy and healthy economy has driven the Construction industry. Retail growth in numbers followed Construction closely, up 13,064 employees. Manufacturing fell by 1981 employees the result of a myriad of layoffs and some January SIC changes. In terms of percent Mining suffered the greatest loss down 6.4% equating to a drop of 873 employees. Corporate cutbacks continue to stifle industry growth.

% Employment Change
 QUARTERLYANNUAL
AGRICULTURE-19.2+ 6.6
MINING+ 0.3- 6.4
CONSTRUCTION- 1.6+9.5
MANUFACTURING+ 0.1- 1.0
TCPU+ 2.6+ 8.8
WHOLESALE+ 0.7+ 1.0
RETAIL+ 1.1+ 3.3
FIRE- 0.3+ 1.6
SERVICES- 0.0+ 4.3
GOVERNMENT+ 3.3+ 1.7



Colorado Employment and Wages (ES202) Fourth Quarter 1999