Colorado Records Lowest Unemployment Since COVID Hit

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Colorado Getting Some Good News

Colorado and its economy received some good news on Thursday: the Colorado Department of Labor and Employment says that the state has recorded the fewest numbers of unemployment claims since the COVID-19 pandemic began.

The Fewest Number of Claims Reported

The week ending in August 29th had the state reporting 5,837 regular initial claims, the lowest number since the beginning of the virus. Colorado has reported 542,619 regular initial claims since mid-March when the pandemic started. The Pandemic Unemployment Assistance’s weekly report of claims was not available for the week of August 29th.

Colorado Records Lowest Unemployment Since COVID Hit

Since March 29th, the Department has paid nearly $4.8 billion in unemployment benefits. This number includes regular unemployment benefits as well as fits since March 29th. That number includes regular unemployment benefits and Pandemic Unemployment Assistance funds. Of that number, $568.4 million has been given to gig workers or people who are self-employed, and have filed for Pandemic Unemployment Assistance.

Who Makes Up The Claims

The demographic that made up the most of the unemployment claims was the Accommodation and Food Service industry at 12.8%. In second is the Retail Trade industry is second at 11.4%, with Healthcare and Social Assistance at third with 10.8%.

It is a very good piece of news as the economy across the country – and world – has been hit hard by the pandemic. As many places continue to open up and find some semblance of normalcy, it is encouraging to see more people being able to find work during this time.

For all your financial news and more, be sure to check back in here with ScoopHash.

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