The number of people continuing to receive unemployment benefits nationwide fell to 11 million, according to the Labor Department report Oct 8. The number of people seeking continuing unemployment assistance in Colorado has continued its slow and uneven decline, dating back to its peak in mid-June when nearly 450,000 people sought to continue assistance. In the week ending on Sept. 26, 218,292 Coloradans continued to file for unemployment benefitsa. Of these, approximately 126,000 are supported by the traditional national unemployment scheme and 64,500 are enrolled in the PUA program. That number has fallen steadily over the past few months, reflecting the fact that some of the unemployed workers have found work again. Tourism is believed to be the last part of the recovery. The researchers found that large cities like Denver and Boulder recovered faster. Once it’s safe, economists said that Coloradans will be encouraged to take vacations in the state to support local entrepreneurs. Unemployment among Asian Americans skyrockets nationally Marlene Kim, an economics professor at the University of Massachusetts, fears that misinformation could exacerbate the financial situation. “Unfortunately, if people continue to believe these myths that Asians are more
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November 2020 | Cover Story
likely to have the virus, that they’re bringing the virus, certainly Asians will have a more difficult time, especially Asian businesses in Asian areas like Chinatowns I think will continue to suffer,” Kim says. “And we’ve seen a number of businesses already close in Asian areas of the country.” The pandemic has taken a heavy economic toll on Asian Americans nationally, who’ve experienced unemployment rates spike by more than 450%, from 2.5% in February to 13.8% in June, according to the U.S Department of Labor. “It’s the worst I’ve seen in decades,” Kim says. “Asians typically have among the lowest unemployment rates, and it really shot up during COVID.” Asian American business owners push forward In Denver, Simon Tran moves forward with his plans to open his restaurant. “To be honest, the only thing COVID has done for me was give me a chance to finally run my own place. COVID has given a lot of younger operators the opportunity to finally get a business moving,” he said, while acknowledging that long-standing restaurants are closing in Denver. Tran’s restaurant Botellón Spanish Tapas & Wine will open the last week of October. While he is unsure how his restaurant’s opening will do during the third wave of the pandemic, he believes that “a large portion of the market has been cooped
up and is eager to experience new foods, even if it is in the form of take-out.” Back in January, Guo Wei was also making plans to open his food truck business
Botellón 1618 17th Avenue, Denver, CO 80218 botellondenver.com BG Dough. When COVID hit, he initially halted his plans but then decided he needed to get out there. BG Dough which specializes in Chinese egg filled pancakes is available at breweries across downtown Denver (see restaurant peek). Business owners like Tran and Guo are making the best of their situations—and some Asian restaurants are thriving more than ever due to the high volume of to-go orders. The housing market continues to climb Despite the volatility being experienced in many sectors, Colorado is witnessing one of the hottest real estate markets during the pandemic. Home sales are exploding in all regions
