In one stunning day, employers, including some of the nation’s “largest and most sturdy,” cut 55,000 jobs, the latest indicator that the “misery is spreading” throughout the economy, writes The Washington Post. The slashing comes at a time when the number of people receiving unemployment insurance benefits is at the highest level since 1982.
In Colorado, where OppenheimerFunds announced that some job cuts could occur, unemployment figures, to be released today, will show a “record increase,” according to 9News.
From another perspective, the Rocky Mountain News writes about a job fair in Denver.
Meanwhile, the U.S. House will debate a new $825 billion stimulus package this week, and Colorado’s share would be at least $2.9 billion, according to The Denver Post, which notes the infusion would help build schools, retrain jobless workers, and help rescue the state budget.
Former lobbyist Freda Poundstone has another idea for helping the state budget: drastically cut taxes and fees, according to the Rocky Mountain News, in a plan Dems call outright reckless.