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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.
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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.