New unemployment claims in Colorado hit low since pandemic began
Colorado had 3,317 new unemployment claims filed last week, marking the lowest number of new claims since the COVID-19 pandemic began in March 2020, the state’s labor department said this week.
Colorado reached its peak in new unemployment claims with 104,207 during the week ending on April 11, 2020, according to data released Thursday by the Colorado Department of Labor and Employment (CDLE).
CDLE Executive Director Joe Barela said the department is “thrilled” at the lowering number of claims.
“As Colorado’s economy begins to rebound, we’re focused now on connecting Coloradans to available work opportunities before the federally funded pandemic benefits end in the coming weeks,” he said.
Colorado’s unemployment rate for June was 6.2%, down from a peak of 12.1% in April 2020, but still above the 5.9% national rate, according to the U.S. Bureau of Labor Statistics.
The state’s weekly average of new unemployment claims was 14,300 during 2020, up from the 1,900 in 2019, according to CDLE.
Federal unemployment benefits such as Pandemic Unemployment Assistance (PUA), Pandemic Emergency Unemployment Compensation (PEUC), and Federal Pandemic Unemployment Compensation (FPUC) are set to end after Sept. 4, the department noted, adding that it’s “preparing to transition back to administering its regular state unemployment benefits” early that month.
CDLE said approximately 98,000 people in the state are still receiving federal PUA and PEUC benefits, and 36,000 are still receiving weekly FPUC payments of $300.
“Regular state unemployment benefit payments will continue for everyone who still has an available balance on their standard UI claim,” CDLE added.
This article was originally posted on New unemployment claims in Colorado hit low since pandemic began