COLORADO'S UNEMPLOYMENT RATE DIPS TO 7% IN SEPTEMBER

October 21, 2009

·         Colorado’s unemployment rate has decreased again, this time by 0.3 percent for September.

·         Our rate has dropped 0.8 percent the past two months, and we are now at 7 percent -- nearly 3 full points below the national average of 9.8 percent.

·         “The worst of the job losses is behind us,” says Don Mares, executive director of the Colorado Department of Labor and Employment.

·         Colorado’s unemployment rate has consistently remained at least 2 points below the national average for most of the year. While the national rate has been climbing steadily, Colorado’s rate is about the same as it was six months ago.

·         Colorado’s unemployment rate is lower than rates in 38 other states and the District of Columbia, including Michigan, which has the nation’s highest rate of 15.3 percent.

·         Colorado’s September unemployment rate declined in 51 of 64 counties, with the lowest rate of 2.0 percent in Cheyenne County on the Eastern Plains.

·         Governor Ritter’s economic development strategy is leading Colorado forward.

·         Governor Ritter has launched aggressive initiatives that are re-energizing Colorado’s economy, creating jobs and making our state more competitive than ever.

·         Governor Ritter has built the New Energy Economy, provided tax cuts to 30,000 small businesses, invested in employee training, and reformed the business tax code to encourage growth in Colorado.

·         A new round of 2009 pro-business legislation -- including improved job training, greater access to loans for small businesses and incentives for creating jobs in Colorado -- will speed and strengthen the state’s economic recovery.

·         Just this month, a California company, SunRun Solar, announced an expansion into Colorado thanks to one of those new laws, Senate Bill 09-051.

·         Colorado was one of the last states to enter the recession, following 26 consecutive months of economic growth, including the first six months of 2008.

·         Now, many experts, including Moody’s, believe we will be one of the first states to recover because of our diverse economy, the technological innovations being developed in Colorado, and our growing healthcare and clean-tech sectors.

·         Forbes.com and CNBC say Colorado is one of the best states in the country in which to do business.

·         Colorado was recently ranked the fourth-best clean-tech state in the country.

·         Standard & Poor’s says Colorado’s economy is outpacing the nation’s, particularly in terms of jobs, retail sales and housing.

·         Colorado had the fourth-fastest GDP rate in the country in 2008 and is expected to have among the strongest rates this year as well.

·         CNN ranked Louisville the best place to live in America in part because of its economy and overall quality of life.