Colorado Revised Employment Stronger in 2012
State labor officials are revising the way they calculate payroll job figures, using a method they hope will paint a more accurate picture of the employment situation in Colorado.
The state Department of Labor and Employment says it will begin using employer reports to estimate revisions to the monthly jobs numbers produced by the Bureau of Labor Statistics.
Using the new method, officials have already revised last year’s job growth upward by almost a half percent. Alexandra Hall, Chief Economist for the department, says the picture is positive for most of Colorado’s job sectors.
"We can see there are several industries that we’re expecting relatively large upward revisions to -- professional and business services, education and health services," says Hall. "But there are some industries that are going to be revised down somewhat, like construction."
Hall says Colorado is one of the first states in the nation to calculate employment figures this way. She says the new information comes closer to the true employment picture because it takes into account that one person may hold more than one job.
Overall, Hall says the state has recovered about 82 percent of the jobs lost since early 2009 due to the recession.