Job prospects are apparently bright for Colorado workers in a few select industries, according to a study highlighted in today's Denver Post. Any good news about the economy is encouraging, but job growth in the aerospace, telecommunications and financial services industries should be viewed in the context of conditions for all workers in the state.
Unfortunately, that context is rather grim, as the Colorado Fiscal Policy Institute's report on the "State of Working Colorado" demonstrates. The report, issued earlier this month, found economic conditions for Coloradans declined during the past decade as wages were stagnant, poverty increased and more state residents turned to the government for help with health care and food.
The study that was the subject of the Post's story was commissioned by the Metro Denver Chamber of Commerce and was "intended to showcase the shinier side of the state's most competitive sectors so it can bolster its case for recruiting and keeping those businesses," according to the newspaper. The study specifically excluded some industries that would have given a more complete picture. The State of Working Colorado included analysis of all industries.
Another point to consider: The industries identified as thriving in the chamber's study have been the recipients of huge government subsidies during the past couple of years. Firms in those industries have received bailouts, tax breaks and government contracts -- all of which has had the welcome effect of creating or saving jobs. It just reinforces what the Fiscal Policy Institute has argued for years: The public sector has an important role to play in the economy, and investment in public services can help yield economic security for everyone.
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