Unemployment rate drops to a five-decade low


The unemployment rate fell to a five-decade low of 3.6%, according to the Associated Press. 

The Pikes Peak Workforce Center says the news is both good and bad. 

“It’s great for the economy when the unemployment rate is low,” said PPWC Communications Manager Becca Tonn. “It’s difficult for employers to hire.” 

With more than 12,0000 current job openings in the Pikes Peak Region, experts say businesses will be feeling the pressure. 

“Employers are scrambling and competing with each other to hire,” said Tonn. “Employers may have to look at different kinds of people they may not know like hiring someone who has a disability, homeless or involved in the justice system.”

Tonn says job seekers will also be seeing some challenges. 

“When the unemployment rate is this low sometimes people have been unemployed for a long time, so that puts a lot of pressure on them as they are looking for jobs,” said Tonn. 

While it may be challenging, the Pikes Peak Workforce Center says it’s not impossible to land a new job. At least 125 people walk into their building on a daily basis seeking help.

“We recommend they come here all services are free, we have 20 different workshops,” said Todd. 

The center’s Military Veterans and Employment Expo will take place Wednesday, May 29. 

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