Potential 32% Unemployment Would Account for 1.82 Million People Out of Work in Colorado

Share This!

Denver, CO – A 32% unemployment rate would account for 1.82 million people out of work in Colorado. You can thank Governor Jared Polis.

That’s right, nearly two million Coloradans may be out of work according to a recent Federal Reserve estimate.

We warned that this was coming. Polis does not care about Coloradan’s livelihoods. He just wants to flex the power he assumed. Oh yeah, and he is blaming you and President Donald Trump for his authoritarian and job-killing actions, but we digress.

The CNBC article goes on to discuss a research paper from St. Louis Fed economist Miguel Faria-e-Castro.

The central part of Faria-e-Castro’s compilations comes from previous Fed research showing 66.8 million workers in “occupations with high risk of layoff.” They are sales, production, food preparation and services. Other research also identified 27.3 million people working in “high contact-intensive” jobs such as barbers and stylists, airline attendants, and food and beverage service.

The paper then took an average of those workers and estimated a loss of just over 47 million positions. That would bring the U.S. unemployment rolls to 52.8 million, or more than three times worse than the peak of the Great Recession. The 30% unemployment rate would top the Great Depression peak of 24.9%.

The government creating an economic downturn with an unemployment rate greater than that of the Great Depression is almost incomprehensible.

Long term economic damage

Yes, COVID-19 is a real threat. Wherever possible, you should follow social distancing guidelines and stay home. Unfortunately, we fear putting this many Americans out of work, even for a short period of time, will cause long term damage to the economy.

The damage this will cause to individuals and families is perhaps worse than the overall economic damage. How many people can no longer pay their rent or put food on their table? A $2.2 trillion stimulus package is not going to fix things. It might prolong the inevitable for some, but for others, a small check from the federal government will not go far enough to save their livelihoods.

And Polis is barely batting an eye. This is all in the job description [Citizen Press emphasis] of the socialist dictator that Polis fancies himself.

Yes, we want to flatten the curve of infection. But a government that exercises this level of control with little regard for the future impact it will have on jobs is not weighing the true cost of their actions.

We cannot say this enough – Polis is to blame.

If you lose your apartment or even your home because your job is gone – Polis is to blame. If you are one of the potential 1.82 million people out of work in Colorado – Blame Governor Jared Polis.

Please share!

Remember to check back with the Colorado Citizen Press. We’re always looking for good stories to write. Please use our “Citizen Tip Line” early and often. Please like us on Facebook and follow us on Twitter (@USACitizenPress)!