State Labor Department Releases Analysis of Second Quarter 2017 Economic Data Upward revisions expected with second quarter 2017 results
(DENVER) – Today, the Colorado Department of Labor and Employment released an analysis of expected revisions to the monthly nonfarm payroll jobs estimates based on second quarter 2017 Quarterly Census of Employment and Wages (QCEW) results.
June 2017 total nonfarm payroll jobs estimates, produced by the Bureau of Labor Statistics and the Colorado Department of Labor and Employment, are expected to be revised up by about 9,500, or four-tenths of a percentage point. April and May 2017 estimates are expected to be revised up by about four-tenths and two-tenths of a percentage point, respectively.
This analysis is based on employer reports filed with the Department of Labor and Employment, which include a count of workers at each business establishment in Colorado and are available through the QCEW program.
Other key findings of the analysis include:
Industry sectors expected to undergo an upward revision to payroll jobs estimates in the 2nd quarter include construction, government, mining and logging, education and health services, manufacturing, and financial activities.
The industry sectors expected to undergo a downward revision to payroll jobs estimates in the 2nd quarter are trade, transportation, and utilities, other services, information, leisure and hospitality. Jobs in professional and business services may also be revised down.
The areas expected to undergo upward revisions to payroll jobs estimates in the 2nd quarter are the Denver, Greeley, Grand Junction, and Colorado Springs Metropolitan Statistical Areas.
Payroll jobs estimates for the Fort Collins Metropolitan Statistical Area are expected to be revised down. Estimates for the Boulder and Pueblo Metropolitan Statistical Areas may also be revised down.
A complete overview of the expected revisions to Colorado nonfarm payroll jobs is available in the attached pdf document.
Expected Revisions to Colorado Nonfarm Payroll Jobs based on third quarter 2017 QCEW data will be released on Wednesday, February 21, 2018.