Friday, August 17, 2012

Colorado Recovery Watch - July 2012

The most recent economic data from the U.S. Bureau of Labor Statistics for the month of July depict the development of an unfortunate trend in Colorado. July saw yet another increase in the state unemployment rate, which includes the self-employed and farm workers, and a decrease in the state labor force. Although employment data from July is varied, it is clear that the recovery from the 2007 recession is facing serious problems. At the same time, safety net programs showed inconsistent participation trends. Total enrollment in Medicaid and CHP+ decreased slightly, marking the first decline in enrollment in those public health programs for the first time in more than two years. However, the food stamp program experienced a minor increase in enrollment.

In July, Colorado’s unemployment rate increased for the fourth consecutive month to 8.3 percent keeping pace with the National unemployment rate which was also 8.3 percent. (Figure 1) Colorado’s 8.3 percent unemployment rate is a return to the August 2011 rate and is a 0.4 percentage increase since the beginning of 2012. The July unemployment rate in Colorado is now 4.2 percentage points higher than when the recession began.

In the latest edition of Colorado Recovery Watch, Rice Fellow Andrew Ball examines a range of data showing where the state of Colorado stands on the road to economic recovery.
Colorado Recovery Watch is a monthly snapshot of economic data, with a special focus on jobs and public-assistance programs. Read it online, along with other analysis of jobs and economic security from the Colorado Center on Law and Policy.

No comments: