The Bureau of Labor Statistics recently released its Colorado employment data for February. The data shows the state was on solid footing prior to the COVID-19 crisis.
As data becomes available, it is possible to quantify the severity of the economic crisis. For example, over 10 million Americans have filed initial unemployment claims in the past three weeks. By comparison, about 11 million initial claims were files during the entire year of 2019. This national data portends what we can expect to see in Colorado. For more details click here or go to https://cber.co/economic-updates/
Moving forward, medical leaders are gaining a better epidemiological understanding of COVID-19. Their work to save lives is commendable.
The medical community is laying the foundation for re-opening the economy. Congress and the Federal Reserve have done their part by announcing fiscal and monetary stimulus plans that are being put in place to support businesses and workers.
And on the home front, we are learning about the benefits of shelter at home. Our family is eating better, sleeping more, and we have started spring cleaning a month earlier.
Stay safe. Stay healthy.