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Wednesday, April 01, 2009

Colorado Springs unemployment rise up to 8.1%

Since the beginning of February the unemployment rate in the Colorado Springs area jump up to 8.1% from 7.7%. Our last policy analysis is on low wage subsidy, many company cannot afforded to hired people, even though, they think about cutting hours for everyone so at least they still in a working force but it not possible because of no profit. The local payrolls are declining to 2.8%. According to the Gazette, “Job losses came as local retailers cut 600 jobs and employers in professional and business service eliminated 400 jobs.” Job losses are happening now in many places but Springs alone, there are about 200,000 people are looking for work. The economy in Springs are still a lot better then what going out around us, but still, we can’t stay better forever. I think it just like any other states, the unemployment probably will rise even more in a few months because of more troops will return in couple of months and there not enough jobs for everyone.

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