News

Intel to slash 12,000 jobs worldwide

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Intel Corp. said Tuesday that it will eliminate 12,000 jobs worldwide by mid-2017, an 11 percent reduction in its work force. Those reductions are part of Intel’s attempts to transform itself “from a PC company to one that powers the cloud and billions of smart, connected computing devices,” the company said. The cuts will come “through site consolidations worldwide, a combination of voluntary and involuntary departures, and a re-evaluation of programs,” Intel said. This piece originally appeared on the ABQ Free Press website.

ABQ Free Press

Albuquerque lowest metro in region for job growth

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The Albuquerque metro area’s economy continued to lag behind other areas in the region in terms of job growth in February. The area added 3,200 jobs in the year that ended Feb. 29 for a 0.9 percent growth rate. But that was tied for last in terms of jobs growth for 10 metro areas in the region. Austin had a 4.2 percent growth rate, in Phoenix it was 3.5 percent, and in El Paso it was 3 percent, according to data Wednesday from the U.S. Bureau of Labor Statistics.

Bureau of Business and Economic Research

No easy fix for NM’s economic woes

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Economic headlines for New Mexico have rarely been good in recent months. In November and December, the state led the nation in highest unemployment rate. In January, New Mexico improved, but only to 49th. Stories abound of people moving out of the state to states with better economic climate. Which brings to mind the “r” word that everyone dreads when it comes to the economy: Recession.

News

NM lags on job creation since depth of recession

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While recent news has shown New Mexico is adding jobs, a report from Stateline at the Pew Charitable Trusts shows that New Mexico is still far from average when it comes to filling the hole dug by the recession. The report shows that since the worst employment numbers during the recession, New Mexico is among the states with the least amount of jobs recovery. The report cites federal data. Ten states (Alabama, Arkansas, Maine, Mississippi, Missouri, New Hampshire, New Jersey, New Mexico, Pennsylvania and West Virginia) have seen total employment grow 5 percent or less compared to their lowest points, according to the analysis of Bureau of Labor Statistics data. On average, employment has increased 8 percent among all 50 states and the District of Columbia since each one’s individual nadir.While the average is eight percent, New Mexico’s recovery lags behind at just 3.77 percent since September of 2010.

News

Udall backs early childhood education in address to legislature

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Sen. Tom Udall was in New Mexico and addressed a joint session of the House and Senate on Friday. Udall addressed the state’s economy and early childhood education. This was the fourth joint session with U.S delegates of the week. Earlier in the week, lawmakers heard from Reps. Steve Pearce, Ben Ray Lujan and Michelle Lujan Grisham.