New Mexico Unemployment (Albuquerque, Las Vegas: city hall, homes, employment)

[jayely1]

I always read on this forum how people say there are no jobs anywhere in New Mexico..Just read in the paper today New Mexico has the lowest unemployment rate in the US!!

[mortimer]

Albuquerque Jobs

[bradly]

No, New Mexico is the 19th Lowest in the United States for unemployment rate.

New mexico is getting worse. Just 6 months ago we were only 5th lowest.

[karmathecat]

I'm not disputing any of the numbers being given, but if you're going to cite a ranking, could you provide a link to the source?

[rybert]

I have a feeling we're about to see the layoff storm in full-force here in NM. The other day DPS laid off 24 of their staff. That's a pretty good barometer for the ABQ/NM economy.

[jayely1]

Can't provide a link, it was in the newspaper today, Sorry! I named the worst and the best, and New Mexico was the lowest.

[Mike Horrell]

I have to agree with Rybert...

As I said in that other thread..

"New Mexico did not have a "boom" economy so was not as badly hit by the loss
of easily shed, "surplus economy" jobs, the first to go. Now that serious budget
cuts, private and public, are becoming increasingly inevitable, the job situation
will only become worse as cuts will come closer to the bone. "

What I would add to that earlier comment is that these serious cuts will take
longer to recover from and will have a more direct impact on not only those being
cut, but also the general economy. "Surplus Economy" jobs are easily recreated
after a minor slump; recreating core jobs will depend on real, sustained recovery.

And it's quite possible that some will be permanently gone even in a full recovery
as recent productivity increases without matching employment increases indicate
that companies are learning to meet market demand with fewer employees.

A good thing for stock owners and other investors, a bad thing for those out
of work.

[bradly]

Originally Posted by karmathecat

I'm not disputing any of the numbers being given, but if you're going to cite a ranking, could you provide a link to the source?

Well look it up, Its on wikipedia. With Sources.

List of U.S. states by unemployment rate - Wikipedia, the free encyclopedia




And anyway, Rybert responding to you.

It has taken full force already. Especially in the city government. When I was in Las Vegas it was crazy.. they would just let go so many at city hall... the city was a mess. I could not stay there. Nevada ranks second. As a city planner in Las Vegas it was so sad to see all the projects stalled. I'm suprised they even needed me. It was a city of cranes with nothing to work on. We had about 23 projects over 10 stories on hold and started, some even just left to sit forever. That the city had to condemn the property... and near were I lived, beautiful homes that once went for 750k now go for 410k boarded up... really sad stuff.

[mortimer]

Originally Posted by Mike Horrell

... companies are learning to meet market demand with fewer
employees. A good thing for stock owners and other investors, ...

Not in the long run.

I wouldn't own stock in a company that wasn't growing and
adding employees and *not* cutting back on R&D, etc.

[Mike Horrell]

Originally Posted by mortimer

Not in the long run.
I wouldn't own stock in a company that wasn't growing and
adding employees and *not* cutting back on R&D, etc.

Actually, increased productivity means doing more with less, not cutting back
on growth or R%D (although most companies probably have cut back). .

If it took 100 employees to do a certain volume of work a year ago and now
you're doing it with 80, that's pure gain for the company and its stock holders.
While productivity gains themselves may not be enough to correct a steeply
declining marketplace, they certainly lessen the costs of staying in business and
make the corporate survival more likely.

Tough on the ones that have been let go, though...