Wednesday, March 11, 2009

Unemployment rises to 6.6 percent

More troubling, though not unexpected economic news today. The state unemployment rate has risen to 6.6 percent--and it's likely to get worse before it gets better. This already eclipses the peak unemployment rate from the last recession.

We keep hearing that Colorado is "doing better" than other states and the rest of the country. Well, that's dandy, but better is not good enough. Not when 181,000 Coloradans are looking for work. And that doesn't even take into account the people who are out of work and no longer seeking work, nor the people who are underemployed or seen their hours and wages cut.

This might be a statement of the obvious, but we hope lawmakers are keeping their eyes on the ball here, and pursue improvements to accessing worker safety net services like unemployment insurance, Medicaid and food stamps, which also boost the economy. We also know it's long past time that Colorado reform the state budget, so the state isn't locked in with earmarks and formulas for one area, when we desperately need to invest in another.

Yes, SB 228, I'm talking about you...

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