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Some 2014 monthly nonfarm payroll job statistics for the Boulder and Fort Collins metropolitan areas may be revised downward, according to the Colorado Department of Labor and Employment, while Greeley’s job stats may be revised upward.
The finding was part of Wednesday’s release of an analysis of expected revisions to the monthly job estimates based on first-quarter 2014 Quarterly Census of Employment and Wages, or QCEW. The analysis is based on employer reports filed with the department, which include a count of workers at each business in Colorado and are available through the QCEW program.
Final revisions are to be released Nov. 26, according to the department.
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Statewide, March 2014 total nonfarm payroll job estimates are expected to be revised up by about 4,000, or two tenths of a percentage point. January and February 2014 estimates are expected to be revised up by about four tenths and three tenths of a percentage point, respectively.
For the Boulder area, however, seasonally adjusted job figures are expected to be revised downward 0.6 percent for January and February and 0.7 percent in March. For the Fort Collins area, the downward revision is expected to be 0.1 percent for January and March and 0.4 percent for February. For Greeley, meanwhile, upward revisions of 1.4 percent for January, 1.2 percent for February and 1.6 percent for March are expected, according to the statistics released Wednesday by the department.
Statewide, industry sectors expected to undergo the greatest upward revisions to first-quarter payroll job estimates include construction, trade, transportation and utilities, and financial activities. Jobs in education and health services and mining and logging may also be revised up.
The industry sectors expected to undergo a downward revision to payroll job estimates in the first quarter are professional and business services, leisure and hospitality, and government. Jobs in manufacturing and other services may also be revised down.
The area expected to undergo the greatest upward revision to payroll job estimates is the Denver metro area. Estimates for Colorado Springs and Grand Junction may also be revised upward, while estimates for the Pueblo area may be revised downward.