In today’s economy, one factor - joblessness - remains the most vital factor one can consider when assessing whether our local and regional economies are on the rebound from the worst economic slump since the Great Depression.
Wall Street financial analysts usually focus on the overall growth of the economy. The news last Saturday that Japan’s economy grew by 1.1 percent in the fourth quarter of 2009 was heralded as a clear indicator the largest Asian economy is now in recovery mode. Japan has seen its economy grow now for three straight quarters, and the effects of the massive Toyota recalls, which started in January, are not expected to derail the uptick that has analysts of world markets smiling.
Here on Main Street, though, we look at how well our local work force is performing and whether unemployment is stressing our economy. At any one time, we may or may not be insulated from what is happening on a larger scale, including what is happening on Wall Street, or in Japan.
Higher unemployment locally means less money circulating through our financial institutions, which in turn impacts the performance of loans and the availability of capital for both homes and business start-ups, expansion or retention. Unemployment in Otero County or Southeastern Colorado certainly isn’t the only factor to consider when assessing whether there’s access to money, but it is a major influence, even if it’s only psychological. Jobless rates are a true indicator how functional, resilient and innovative our local business community has become in the new economy.
That is why news that Otero Junior College will be the recipient of a $5 million grant to implement the Nursing Innovations in Rural Colorado project on a regional scale was such good news. Teri Erickson, who according to OJC officials worked tirelessly with Denise Root, director of the nursing program, to write the complex grant application, deserve our praise and thanks.
Congresswoman Betsy Markey said, “Investing in job creation at OJC will help Coloradans receive high-quality training and employment services, which will lead to good jobs in health care and other much-need professions.”
Perhaps no factor is more important to quality of life here in La Junta than whether our neighbors have a chance to earn a steady paycheck, or whether our children have access to quality jobs when they are finished with their education. And investing in health care is certain to improve the quality of life here because in a slumping economy, the health care industry is one of the most difficult to keep stabilized.
Medical professionals know their services are needed, but they need to be reassured that they are needed here most of all. We also need to help them understand what they might have lost sight of in the midst of the recession, and that is the fact a larger paycheck in an urban setting doesn’t necessarily equate to a better quality of life. Just the opposite is often true.
The other factor that we all need to keep in mind - which obviously the folks like OJC President Jim Rizzuto know inherently - is that we need to help one another overcome obstacles that prevent people from getting and keeping good jobs. Let’s face it, it can be extremely tough to get a good job if you’ve lost one. Probably, most people never think of what they would do if they were suddenly unemployed, especially if they haven’t experienced joblessness sometime in the recent past. We need to constantly remind people of all the tools and resources they have for overcoming unemployment - just in case. By doing that, we know we will be prepared to effectively help when a neighbor, a spouse or a good friend is suddenly out of work and needs to take positive steps quickly to get back on the job.
Unemployment benefits are only a Band-aid. Colorado’s unemployment system is extremely difficult to navigate and horribly complex with all its rules and regulations. It’s so much like having a full-time job - after a major cut in pay - that it’s hardly worth the effort. As joblessness has grown in the state, the difficulties in connecting to and utilizing the unemployment benefits system have become acute.
That’s why investing in job-training and job creation through OJC, or through Otero County, which finally received the go-ahead to engage a job training program with local industries, are much better solutions. If it’s true that making money requires investing money, then we must invest our money wisely. There’s no better place to invest state, federal and local money than in creating and sustaining local jobs. They are the fuel for our future prosperity.
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In today’s economy, one factor - joblessness - remains the most vital factor one can consider when assessing whether our local and regional economies are on the rebound from the worst economic slump since the Great Depression.
Wall Street financial analysts usually focus on the overall growth of the economy. The news last Saturday that Japan’s economy grew by 1.1 percent in the fourth quarter of 2009 was heralded as a clear indicator the largest Asian economy is now in recovery mode. Japan has seen its economy grow now for three straight quarters, and the effects of the massive Toyota recalls, which started in January, are not expected to derail the uptick that has analysts of world markets smiling.
Here on Main Street, though, we look at how well our local work force is performing and whether unemployment is stressing our economy. At any one time, we may or may not be insulated from what is happening on a larger scale, including what is happening on Wall Street, or in Japan.
Higher unemployment locally means less money circulating through our financial institutions, which in turn impacts the performance of loans and the availability of capital for both homes and business start-ups, expansion or retention. Unemployment in Otero County or Southeastern Colorado certainly isn’t the only factor to consider when assessing whether there’s access to money, but it is a major influence, even if it’s only psychological. Jobless rates are a true indicator how functional, resilient and innovative our local business community has become in the new economy.
That is why news that Otero Junior College will be the recipient of a $5 million grant to implement the Nursing Innovations in Rural Colorado project on a regional scale was such good news. Teri Erickson, who according to OJC officials worked tirelessly with Denise Root, director of the nursing program, to write the complex grant application, deserve our praise and thanks.
Congresswoman Betsy Markey said, “Investing in job creation at OJC will help Coloradans receive high-quality training and employment services, which will lead to good jobs in health care and other much-need professions.”
Perhaps no factor is more important to quality of life here in La Junta than whether our neighbors have a chance to earn a steady paycheck, or whether our children have access to quality jobs when they are finished with their education. And investing in health care is certain to improve the quality of life here because in a slumping economy, the health care industry is one of the most difficult to keep stabilized.
Medical professionals know their services are needed, but they need to be reassured that they are needed here most of all. We also need to help them understand what they might have lost sight of in the midst of the recession, and that is the fact a larger paycheck in an urban setting doesn’t necessarily equate to a better quality of life. Just the opposite is often true.
The other factor that we all need to keep in mind - which obviously the folks like OJC President Jim Rizzuto know inherently - is that we need to help one another overcome obstacles that prevent people from getting and keeping good jobs. Let’s face it, it can be extremely tough to get a good job if you’ve lost one. Probably, most people never think of what they would do if they were suddenly unemployed, especially if they haven’t experienced joblessness sometime in the recent past. We need to constantly remind people of all the tools and resources they have for overcoming unemployment - just in case. By doing that, we know we will be prepared to effectively help when a neighbor, a spouse or a good friend is suddenly out of work and needs to take positive steps quickly to get back on the job.
Unemployment benefits are only a Band-aid. Colorado’s unemployment system is extremely difficult to navigate and horribly complex with all its rules and regulations. It’s so much like having a full-time job - after a major cut in pay - that it’s hardly worth the effort. As joblessness has grown in the state, the difficulties in connecting to and utilizing the unemployment benefits system have become acute.
That’s why investing in job-training and job creation through OJC, or through Otero County, which finally received the go-ahead to engage a job training program with local industries, are much better solutions. If it’s true that making money requires investing money, then we must invest our money wisely. There’s no better place to invest state, federal and local money than in creating and sustaining local jobs. They are the fuel for our future prosperity.
