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State’s minimum wage could increase by nearly 3% again in January
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State, The Colorado Sun

State’s minimum wage could increase by nearly 3% again in January

By Tamara Chuang | The Colorado Sun The minimum wage in Colorado and a few local governments is going up again Jan. 1.  The raising of the minimum wage has been an annual event for the state and the city of Denver for years and, starting this year, Edgewater and Boulder County joined in. That’s because all are tied to the change in the Consumer Price Index, also known as inflation. Denver’s rate will jump 52 cents next year to $18.81 an hour, up from the current $18.29. Colorado’s is tentatively increasing 39 cents to $14.81, from $14.42. The state’s official new wage will be announced around Labor Day, according to state labor department officials. READ THE FULL STORY AT THE COLORADO SUN
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Council gives unanimous support to Denver’s plan to spend $3M on youth job program
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denvergazette.com, Local

Council gives unanimous support to Denver’s plan to spend $3M on youth job program

By Alexander Edwards | Denver Gazette The Denver City Council on Monday agreed to spend $4 million in an attempt to curb youth violence and support the struggling city center. A $1.5 million contract with Denver Public Schools was doubled, and $1 million will be spent to hire a planning firm to update an area plan for downtown. The city has approved spending almost $5 million this year to keep Denver’s kids occupied during the summer months, and away from crime. The city will now spend $3 million on the Denver Youth Employment Program on top of Mayor Mike Johnston’s own YouthWorks effort which, broadly speaking, has the same goals. READ THE FULL STORY AT THE DENVER GAZETTE
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Big Lots shuttering more than half of Colorado locations among 300 nationwide
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BizWest, State

Big Lots shuttering more than half of Colorado locations among 300 nationwide

By Christopher Wood | BizWest Discount retailer Big Lots Inc. (NYSE: BIG) will close more than half of its remaining Colorado stores, including locations in Greeley and Longmont. The Columbus, Ohio-based company is closing almost 300 stores nationwide, including at least eight of its 14 locations in Colorado. The closures come a year and a half after Big Lots shuttered locations in Fort Collins, Arvada, Denver and Englewood. READ THE FULL STORY AT BIZWEST
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Bidenomics: Housing costs hitting record highs, Harvard University report says
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Fox Business, National

Bidenomics: Housing costs hitting record highs, Harvard University report says

By Kennedy Hayes  | Fox Business The high cost of housing is making it hard for many Americans to make ends meet, and monthly rents are rising faster than wages, according to a new housing report from Harvard University. The Joint Centers for Housing Studies of Harvard University report was released in June. The annual report says housing deals are hard to come by right now. Daniel McCue, the senior researcher on the Harvard University Housing Report, says home prices are steep right now and there is not enough supply. READ THE FULL STORY AT FOX BUSINESS
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Could your Safeway be sold soon? See 89 Colorado stores on planned sale list
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kdvr.com, Local

Could your Safeway be sold soon? See 89 Colorado stores on planned sale list

By Samantha Jarpe | Fox 31 News Albertsons Companies, which owns 103 Safeway stores in the state of Colorado, released a list of 91 stores across the state it plans to sell if a planned merger between the company and Kroger is approved. Of these, two are Albertsons-branded stores and 89 are Safeway-branded stores. With 103 Safeway stores in the state, that means that all but 14 Safeway stores in the state would be sold to C&S Wholesale Grocers, a New Hampshire-based company. This includes all locations within Denver, Aurora and Boulder, among many more. According to a divestiture plan released by the two companies in April, C&S Wholesale would license the Safeway brand in Colorado, meaning the stores would likely not have to rebrand if the deal goes through. READ THE...
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Survey: Colorado business leaders’ confidence ‘tempered but positive’
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State, The Center Square

Survey: Colorado business leaders’ confidence ‘tempered but positive’

By Joe Mueller | The Center Square A survey of Colorado’s business leaders revealed their confidence is “tempered but positive” going into the third quarter of the year. The Leeds Business Confidence Index, a report from the University of Colorado’s Leeds School of Business, found all measured components posted year-over-year gains heading into the second half of the year, but all components slipped from the second quarter of this year heading into the upcoming third quarter. The index examines the national and state economy, industry sales, profits, hiring plans and capital expenditures. “Across the array of reasons given to explain their outlook, interest rates, election uncertainty, and sentiment were commonly cited as the most pressing factors,” according to the report. REA...
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John Deere will layoff more than 600 in production shift to Mexico
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Fox Business, National

John Deere will layoff more than 600 in production shift to Mexico

By Michael Dorgan  | Fox Business John Deere, the world’s largest seller of tractors and crop harvesters, on Friday announced another wave of layoffs, telling around 610 production staff at plants in Illinois and Iowa that they will be out of a job by the end of the summer.   The company is slashing around 280 workers from a plant in East Moline, Illinois, while another 230 employees are being let go at a factory in Davenport, Iowa. About 100 production employees at the company’s Dubuque, Iowa, plant will also be impacted. All layoffs are said to be effective from Aug. 30, the company tells FOX Business. The layoffs are being made due to reduced demand for John Deere's products from those factories. The company says it generated $10.166 billion in profits last ye...
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Colorado employers may finally have found enough workers, but 1.7 open jobs remain for every unemployed worker
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State, The Colorado Sun

Colorado employers may finally have found enough workers, but 1.7 open jobs remain for every unemployed worker

By Tamara Chuang | The Colorado Sun Colorado received some notable mentions in the latest national job-openings report. The state had the largest one-month increases in both workers who quit jobs or left involuntarily. That helped the state rank as the second highest in the nation for workers who quit jobs and third highest for those who lost them in April, according to the latest Job Openings and Labor Turnover Summary, or JOLTS. The last time the state hit a 3.5% quit rate was in the summer of 2021, when the Great Resignation took hold and employers faced the worst labor shortage in years. But the frustrations employers felt with getting ghosted by new hires back then doesn’t appear to be happening today, at least from what Tony Gagliardi is hearing. As state dire...
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More retirees consider return to work in response to high inflation squeeze
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Fox Business, National

More retirees consider return to work in response to high inflation squeeze

By  Megan Henney | Fox Business A growing number of retired Americans are considering returning to work as they continue to battle chronic inflation, according to a new survey published by the Motley Fool. About 44% of respondents said they are thinking about looking for work because their Social Security benefits have not adequately kept pace with high inflation. While Social Security recipients received a 3.2% cost-of-living adjustment in 2024, retirees say they are still struggling financially, the survey findings show. That is largely because the actual rate of inflation exceeded this year's 3.2% cost-of-living bump in March, April and May. READ THE FULL STORY AT FOX BUSINESS
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In debt for dad: Consumers to show Father’s Day appreciation with $22.4 billion in spending
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Fox Business, National

In debt for dad: Consumers to show Father’s Day appreciation with $22.4 billion in spending

By Aislinn Murphy | Fox Business Scores of American consumers have fathers and father figures for whom they want to show their appreciation this Father’s Day, and according to a National Retail Federation (NRF) estimate, they will collectively splash out an eye-popping amount of money to do so. The NRF and Prosper Insights & Analytics found in a survey that this year’s expected Father’s Day spending by American consumers will amount to the "second highest figure in the survey’s history" at $22.4 billion, according to a news release.  The survey found 75% of U.S. consumers expressed intentions to partake in the holiday. READ THE FULL STORY AT FOX BUSINESS
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