Denver has a new plan to get unemployed residents back into the workforce. In an executive order announced Wednesday by Gov. Jared Polis, the “Colorado Jumpstart Incentive” seeks to entice the unemployed by providing a $1,600 incentive bonus to those who acquire jobs and keep them for at least two months.

“In March 2021, Colorado’s unemployment rate remained unchanged from February at 6.4% and the labor market recovery has been slow. Job openings continue to outpace hiring throughout the State,” the order says. “I understand that starting a new job takes resources, like transportation, child care, and clothing, so the payments in this Executive Order will provide Coloradans with these resources to return to the workforce more quickly and assist with the statewide economic recovery from COVID-19.”

 

The CDLE estimated last week that there were still 162,886 people receiving either regular unemployment, PUA or Pandemic Emergency Unemployment Compensation (PEUC) benefits through continued claims the week of May 1. The state’s unemployment rate has remained mostly flat for the past few months at 6.4%. And the state says there are more than 100,000 current open jobs on the state job board.

Colorado joins a bevy of other states that are strengthening incentives for out-of-work residents to find employment again, such as Connecticut and Arizona.

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