Looks Like the Unemployment Line Is Going to Get Longer
By April 30, 2009 10:29 AM
Earlier this week, Level 3 Communications Inc., a phone company in Broomfield, announced plans to cut 150 jobs this quarter as company stock plummeted by 14 percent, according toÂ Bloomberg News
. Cuts at Level 3 are just a snapshot of a Colorado economy now struggling almost everywhere.
The Denver metro area's unemployment rate soared to 8.2 percent in March--following seven straight months of rising joblessness, notesÂ The Denver Post
, citing U.S. Bureau of Labor Statistics data and quoting an expert who says the picture won't get any better this year. (Just a year ago, Denver's unemployment rate was 4.8 percent.) Pueblo's rate is now 9.1 percent--the highest in the state--and Boulder's is relatively lucky at 6.3 percent--the lowest among metro areas in Colorado.
There are bright spots, including the federal government's infusion of $110 million yesterday for renewable-energy research and wind-technology development (via Boulder'sÂ Daily Camera
). If you're looking for a job, your best bet is to network, network, network--and that includes using Facebook, writes theÂ Steamboat Pilot & Today