Colorado Unemployment Worse Than First Thought

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Source: Denver Post

Colorado's economic downturn was more severe and any recovery much weaker than first thought, a new employment report shows.

Colorado's unemployment rate hit 9.1 percent in January, moving ahead of the U.S. rate for the first time since the 2008 recession, according to Thursday's report from the Colorado Department of Labor and Employment.

"We seem to be still going in the wrong direction, whereas the U.S. labor market has turned around a little bit," said Martin Shields, a professor of economics at Colorado State University in Fort Collins.

The U.S. unemployment rate has fallen from 9.7 percent in January 2010 to 9 percent this January, while Colorado's revised unemployment rate rose from 8.9 percent to 9.1 percent over the same period. ...


Read more: http://www.denverpost.com/business/ci_17588764