Colorado Unemployment Rate Has Doubled Since February, Could Double Again By May

(CBS4/AP) -- Colorado unemployment rates jumped to 4.5% according to the U.S. Bureau of Labor Statistics. It's the highest rate in nearly five years -- and experts say it could jump to 10% by the end of April, based on reports of unemployment claims released yesterday.

More than 266,000 people have filed for unemployment benefits over the past month of the coronavirus pandemic in Colorado. The Colorado Department of Labor and Employment says that includes 104,000 people who filed initial claims just last week.

The surge is largely driven by workers displaced in the hotel and restaurant industries, personal physician, dentist and other medical specialists' offices, children's day care, auto dealers and manufacturing. Those sectors saw significant drop-offs in business since statewide stay-in-place orders, non-essential business closures and other measures were adopted to combat the coronavirus pandemic in March.

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