Colorado – The Economy and Jobs.
According to the Bureau of Labor Statistics (BLS) Colorado’s unemployment rate stands at 7.3%. For the better part of 2012 Colorado’s unemployment rate was mired in the 8% range. Colorado’s U6 unemployment rate, U-6, total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers, was 14.6% for all of 2012.
While the focus on the Colorado State Legislature for the past month has been on the confiscatory anti-gun Second Amendment Legislation, jobs and the states economy have gone by the wayside. Colorado legislators say they are legislating to improve the state economy and jobs. They cite:
A BILL FOR AN ACT
CONCERNING THE RIGHT OF A PERSON TO WAIVE CONFIDENTIALITY
REQUIREMENTS PROTECTING PERSONAL WORK INFORMATION
OBTAINED BY THE DEPARTMENT OF LABOR AND EMPLOYMENT
FOR UNEMPLOYMENT BENEFIT CLAIMS TO PERMIT THE
DEPARTMENT TO FORWARD CERTAIN INFORMATION TO
On and after January 1, 2014, the bill permits a corporation to become a benefit corporation if it includes a statement to that effect in its articles of incorporation and also specifies in its articles of incorporation an additional purpose of providing a general or specific public benefit. A corporation needs to obtain two-thirds of the shareholders’ consent to amend its articles of incorporation to become a public benefit corporation; shareholders have dissenting rights.
The corporation and its directors and officers are not liable for failure to pursue or create a general or specific public benefit. The bill specifies directors’ and officers’ standards of conduct. A benefit corporation must prepare a benefit report if so required by its articles of incorporation, and must send the report to its shareholders. The report may assess the corporation’s performance in achieving its general or specific public benefit against a third-party standard.
CONCERNING CREATIVE DISTRICTS, AND, IN CONNECTION THEREWITH,
AUTHORIZING THE CREATIVE INDUSTRIES DIVISION OF THE
COLORADO OFFICE OF ECONOMIC DEVELOPMENT TO OFFER
INCENTIVES IN THE FORM OF NEED-BASED FUNDING FOR
INFRASTRUCTURE DEVELOPMENT IN STATE-CERTIFIED
CREATIVE DISTRICTS AND TO PROVIDE SUCH FUNDING FROM ANY
MONEYS APPROPRIATED TO THE CREATIVE INDUSTRIES CASH
FUND FOR THAT PURPOSE.
The synopsis of the bills doesn’t directly show any positive movement or actions to stimulate the economy or create jobs for those who are seeking them.
First, we’d be remiss if we didn’t thank our most loyal following of readers, the Colorado State House Democrats. Apparently, when we published on Friday a post calling out the Democratic leadership in the State House for not advancing any of their jobs package, they were paying attention. Yesterday, they distributed a press release about a ‘Big Day for Dems’ Jobs Bills’ after three bills passed the second reading in the House. Remember, these were not the bills heralded in the big Democrat jobs package at the beginning of the year – it’s just another bait and switch by House Democrats.
Here’s what Democratic Speaker of the House Mark Ferrandino had to say about this monumental feat:[Somewhere in the background a record screeches] There’s just one problem with Ferrandino’s grand exclamation. They’ve already not made jobs priority number one. Here is what was prioritized above jobs – gun control, sex ed for 1st graders, discussion of Hitler’s dog, banning the cutting of cow’s tails, civil unions, adultery laws, and now overturning the death penalty. And that’s just the beginning.
‘House Democrats made a commitment to the people of Colorado to make jobs and the economy our number one priority. We’re honoring that commitment today and with the other major components of our jobs package, which will soon be coming to the full House for action.’
House Democrats today patted themselves on the back for advancing three bills that they claim will create jobs – HB13-1123, HB13-1138, and HB13-1208. None of these bills will address the lack of jobs in Colorado. According to a Gallup/Wells Fargo survey of small businesses from the end of January, Democrat policies are top reasons that small businesses haven’t hired. From the survey press release:
When owners who are not looking for new employees were asked to evaluate eight potential reasons they are not doing so, overall business conditions headed the list as usual, including not needing new employees at this time (with 81% indicating this as a reason), worries that revenues or sales won’t justify adding more employees (74%), and worries about the current status of the U.S. economy (66%).
However, 61% of owners pointed to worries about the potential cost of healthcare, 56% to worries about new government regulations, (Peak emphasis) and 55% to worries about cash flow or the ability to make payroll. Thirty-two percent point to it being hard to find qualified employees.
Has Colorado’s Democratic leadership done anything to alleviate the burden the Obamacare has placed on businesses? No. Has Colorado’s Democratic leadership done anything to reduce burdensome government regulations? No. In fact, they’ve doubled down on government regulation and, in fact, their overreach has already chased two companies out of Colorado with their gun control legislation.
Let’s remember when Colorado’s Democrats in the legislature say their ‘number one’ priority is jobs and the economy, they really mean gun control, sex ed, voting rights for criminals, and green tax credits. And, then, jobs. Translation: Colorado’s unemployed families must wait until the Democrats return political favors before these hurting families find some measure of relief.
Just another bait and switch.
(Via Colorado Peak Politics.)