It was recently reported by Steve Lynn with BizWest, a Northern Colorado and Boulder Valley publication, that Colorado added 15,700 more jobs last year than initially reported by the federal Bureau of Labor Statistics, which is a staggering difference of nearly 25 percent.
Mr. Lynn explains:
The bureau originally said Colorado added just 63,200 non-seasonal jobs based on monthly Current Employment Statistics data compiled in mid-2014.
But Broomfield economist Gary Horvath, former managing director of the University of Colorado-Boulder’s Leeds School of Business research division said the actual figure is 78,900.
This figure come from an annual analysis of Bureau of Labor Statistics’ Quarterly Census of Employment and Wages data by Horvath.
“It was pretty significant,” he said. The data “was showing a pretty large difference.”
Horvath said the discrepancy was due to differences between non-seasonal and seasonal employment and unexpected growth in several industry categories.
Monthly Current Employment Statistics come from samples of business employment figures while the Quarterly Census of Employment and Wages, which Horvath examined, track employee counts from individual businesses. The bureau released revised figures last week.
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Reference:
Lynn, S (2015). Economist: Colorado added 25 percent more jobs in 2014 than feds originally reported. BizWest. Retrieved from: http://bizwest.com/economist-colorado-added-25-percent-more-jobs-in-2014-than-feds-reported/