The wage and salary data produced by BLS shows that Colorado has recovered about 67% of jobs lost as a result of the Great Recession compared to 51% for the U.S.
The LAUS data also produced by BLS tells a much different story.
The Colorado LAUS Data shows that between the 2008 peak and the 2010 trough, Colorado lost more than 135,000 jobs. As of October 2012, the state had recovered only 26% of these jobs.
From October 2011 to October 2012, the LAUS data reports that the number of employed in Colorado has increased by 4,700. Over the past year, state CES employment has increased by 41,600 (NSA) or 42,100 (SA) and those numbers are likely to be revised upwards. For the numbers to reconcile, this disparity suggests that at least 37,000 contract workers, sole proprietors, or family businesses went out of business over the past year.
The U.S. LAUS Data shows that between the 2008 peak and the 2010 trough, the U.S. lost more than seven million jobs. It has since recovered 67% of these jobs.
From October 2011 to October 2012, the LAUS data reports that the number of employed in the U.S. has increased by 3.1 million. Over the past year, U.S. CES employment has increased by more than 1.922 million (NSA) or 1.949 million (SA). The differences between these numbers can be reconciled, as the difference can most likely be attributed to the growth of contract workers, family businesses, or sole proprietors.
The LAUS data shows that Colorado has recovered 26% of the jobs lost during the Great Recession compared to 67% for the U.S.
These results raise yet another red flag about the LAUS data published by the Colorado LMI, CDLE, and BLS. Click on the following dates for a review of the downturns for the 1980s and the late 2000s.
©Copyright 2011 by CBER.