State’s Labor Numbers Reported Friday
Lake County Unemployment Hits 16.7%
Updated 5/28/2020/9 a.m.
Today, May 28 the Colorado Department of Labor and Employment (CDLE) announced there were 15,603 initial regular unemployment claims filed the week ending May 23. This is compared to 17,825 the week prior (week ending May 16). This is the sixth week in a row of gradual declines in regular unemployment claims.
In addition, there were 6,635 Federal Pandemic Unemployment Assistance (PUA) initial unemployment claims (gig worker, self-employed) filed May 17 – 23. Over the past ten weeks a total of 421,403 regular unemployment initial claims have been filed and a grand total of 498,851 claims including federal PUA benefits.* To see all the specific data released in this may 28 report, CONNECT HERE.
The initial report from May 24 begins here.
Yes, the numbers and statistics can be a bit jarring when it comes to the number of jobs lost and small businesses hanging in the balance. On Friday, May 22, the Colorado Department of Labor and Employment (CDLE) released its latest numbers on the state’s employment situation as of April 2020,
Locally, the unemployment rate is 16.7%, which of course is not an encouraging number, especially when compared to the national’s 14.7% and the state’s averages of 11.3%. However, when Lake County’s numbers are compared to neighboring tourist-reliant counties, like Summit (21.1%) Eagle (20.5%) and Pitkin/Aspen (23.1%) Leadville is doing a smidge better.
Regardless 16.7% is a stark number and one that only reveals the stats thru April 12, “therefore, this release provides an estimate of Colorado’s employment situation during the first full month of efforts to contain COVID-19 within the state and associated impacts.” Time will tell if those stats from mid-April will continue to plummet or hold steady.
According to the report released last Friday, over the year, the unemployment rate is up eight and four-tenths of a percentage point from 2.9 percent. The number of Coloradans participating in the labor force decreased 58,100, total employment decreased 315,100 and the number of unemployed increased 257,000. The national unemployment rate increased from 3.6 percent in April 2019 to 14.7 percent in April 2020. The May 2020 Colorado Employment Situation will be released at 8 a.m. on Friday, June 19, 2020. The full schedule of release dates for the calendar year 2020 estimates is available HERE.
PPP “Forgiveness” Calculator Online
In other labor news, for those Lake County businesses that were able to take advantage of the Paycheck Protection Program (PPP) loan program there is now an online “Forgiveness” calculator available from the Small Business Administration. This week the agency released some long-awaited guidance for those companies struggling to maximize forgiveness of the loans they secured through this program to assist in keeping their employees on the payroll throughout the pandemic.
Businesses will have to fill out and return the Paycheck Protection Program Loan Forgiveness Application. Businesses will need to have their payroll, rent and utility payment documents handy to complete the two-page application and attached schedule. The documents may, but are not required to, be submitted with the application. That the loan conditions were met will be self-certified by the business. Businesses should return the application to their lender, who can also provide assistance in completing it.
Trooper Tips: Thank You!
By Master Trooper Gary Cutler, Colorado State Patrol
With everything that has been going on around the world it is easy to get down. So, this month I’m not bringing up anything about Covid-19. Instead I thought it was a good time to throw something positive into the mix.
Each month I write about the proper way to drive here in Colorado. There is a lot of don’t do this and don’t do that in my articles. This month, on behalf of every State Trooper I wanted to take a few moments and thank those of you who are driving properly.
Often the good drivers get passed over and we only focus on bad driving behaviors. I know there are a lot of drivers out there I will never talk to, for the simple reason they have good driving behaviors.
For all of you who come to complete stops at stop signs and stoplights. For those who obey speed limits and adjust their speed when conditions warrant it. For those who know the rules for driving… thank you for diving safely within the law.
As always, safe travels!
Thank You for Your Service!
Mining Company Makes Market News
Congratulations to the Class of 2020
Lake County High School Seniors were honored with special banners that hang from the lamposts along historic Harrison Avenue in downtown Leadville. It was one of several ways the Class of 2020 was honored this graduation weekend in a COVID-19 reality that does not allow for the gathering of more than 10 people at any event or business in Lake County as well as other guidelines issued by the public health officials.
This year, the seniors missed some of the traditional milestone events for their last year of high school. “We think it’s important to acknowledge how hard this has been on the class of 2020 and their families. We did not get to have the spring musical, spring sports, prom or traditional graduation. These are important events and milestones for students. While this has not been a normal spring, we are proud and grateful for how our community has stepped up to support our seniors,” wrote Bunny Taylor on the school district’s website.
Senior Class Celebration Video