FINANCE, INSURANCE & REAL ESTATE
(60 - 67)
FIRE experienced one of its slowest years in four years adding 834 employees for a gain of 0.8%. Over the last three years employment has grown from a low of 3.2%, adding better than 3000, to a high of 6.8% adding more than 6000. Activity was mixed within the components of FIRE and growth was disbursed in Metro Denver a little heavier than Balance of State.
Following last year’s lull in Banking growth, where only 91 were added, this year’s addition of 426 seems quite substantial. Historically, Banking employment fluctuates wildly from year to year. Increases occurred mainly in Metro Denver. Arapahoe county added 337 employees followed by Denver county with 120. Banking in Boulder county took a drop of 118 due to restructuring that followed many ownership changes.
Credit Agencies suffered a loss of 795 employees wiping out all of last years gain. Last year Credit Agencies added 659 employees. Losses were greatest in the Metro Denver area where most of the activity takes place. Higher mortgage rates forced many closures and layoffs in Mortgage Bankers & Brokers.
Insurance Agents, Brokers & Service reported continued gains up 498 employees from a year ago. This was the largest growing segment of the FIRE industry. About 75% of the gain occurred in Metro Denver with Jefferson county adding 281 employees. Increased demand for contracted services, specifically claims processing, led to the gain here.
|Bal. of State||31,333||32,493||35,076||36,821||37,200|
Colorado Employment and Wages (ES202) Annual Average 1995